Property price dropped was offered land at a reduced price

[WilliamCave]

To start of with a few years ago I made an offer for a piece of land next to our land

The price was 1.7 million baht. It is in Chiang Khong Chiang rai we never meet before we just called them on the phone ,,,we got there number from a neighbour this was some time in January of 2013 we never meet them or they did not know we owned the land next to them and I was not interested at that price .

Now a few days agomy wife received a phone call to find out if we were interested in the land they got our number of the no trespassing signs on our property that is fenced in .

Now we were offered the land about 3.4 rai for 1.2 million baht with Chanote

And they are willing to negotiate the price even .

I talked to my wife about it and was questioning as to why they now are interested in selling and my wife did some inquiring in the area and found out the farmers were very far in dept and needed to sell ASAP .

And others in the area do not have the money to purchase the land .

This happend also about 2 months ago. My wife got a phone call about some land that her friends family had and needed to sell it ASAP . I ask her then why and she said that her friends family got in to dept and needed to sell . The price was good but we were not interested to buy it .

I think one of the reasons they call us is because I am a westerner and could have the money to purchase ASAP .

I have been talking to a well to do thai friend about this and he was telling me now is the time to buy because they have borrowed so much money they do not generate the money to pay of bills and it is coming more and more in this citation

So are borrowing and mis- management starting to catch up to some . I did read on TV some time ago about how many do not have the ability to even make ends meet at the end of every month due to massive dept and borrowing .

I am getting these calls now about land ,, where as 2 years ago couldn't even negotiate so it might be coming in to heads with some .

Any one else notice this

This is only my experience lately not saying it is a trend .

[WilliamCave]

To further up date we got a call again today about the land and my wife is counter offering and seems they might grab it . Some of theses farmers are desperate

[Pib]

Personal debt has always been a driver behind selling land. But it's also not unusual for a Thai to place land on sale only at a high price that they only want to sale if they can get a "high" price they know they have little chance of getting, but they want to give it a try for X-amount of time....sometimes years. Then one day they decide they have waited long enough for their unrealistic high price, they are getting older, the kids needs money for something, etc., and then overnight the decide to accept a much lower price....the going price for similar land.

Summary: hard telling why they are now willing to accept a lower price...could be for many different reasons.

[Gonsalviz]

My wife has bought 2 parcels of land the same way. They are sending the daughter to University and need the money. They now only have enough land to grow rice for themselves.

We also gained 4 rai from an uncle because he needed money to pay off his car with the intention of taking the land back when he got the money. He has now decided he doesn't want the land any more.

It is not unusual at all.

[PattayaPhom]

My wife has bought 2 parcels of land the same way. They are sending the daughter to University and need the money. They now only have enough land to grow rice for themselves. We also gained 4 rai from an uncle because he needed money to pay off his car with the intention of taking the land back when he got the money. He has now decided he doesn't want the land any more. It is not unusual at all.

Henry Potter in Wonderful life springs to mind

[con du rai]

they know something you dont http://www.thaivisa.com/forum/topic/808762-myanmar-bombs-china/