spooky2015 Posted December 9, 2015 Share Posted December 9, 2015 Right now me and my Thai wife stay in Chiang Mai for a couples of days, also for look some Building land. We already found a nice plot,owner is the bank (forceclosure).Is it right that to buy land from bank it takes time around 1 Month? Can´t do it in 1 week only? Anybody in here who have experience in buy land or house from bank? I am happy for a quick Reply. Thank you Regards Link to comment Share on other sites More sharing options...
BarnicaleBob Posted December 9, 2015 Share Posted December 9, 2015 I have a good friend who purchased 4 rai of repossessed land from a bank this past Summer with out any problems. It did take a couple of weeks to close on, not sure why but could be it takes time to clear the chanote (title to the land) on repossessed land. He used an attorney to look over the paperwork to insure there were no other leans on the property. He is now building a house on his land and all is going well. Link to comment Share on other sites More sharing options...
Gutenberg Posted December 9, 2015 Share Posted December 9, 2015 Must be really lucky to get a good deal. But maybe for some the deal is always good. I once went into the bank and tried to check on repossessed land/houses to find out that the law says the property may not be sold under the value of the defaulted loan. Funny to see half of rais with shacks on it for moon prices. Link to comment Share on other sites More sharing options...
kaptainrob Posted December 9, 2015 Share Posted December 9, 2015 Took us about a month to settle as bank must give notice of pending sale to their client,the mortgagor. FaIrly straightforward process. Link to comment Share on other sites More sharing options...
Daniel Boon Posted December 10, 2015 Share Posted December 10, 2015 is there a site, listing properties in various regions? Link to comment Share on other sites More sharing options...
khwaibah Posted December 10, 2015 Share Posted December 10, 2015 is there a site, listing properties in various regions? The site http://www.bangkokbank.com/BangkokBank/AboutBangkokBank/AboutUs/PropertiesForSale/Pages/default.aspx is in english but their site for the properties is in Thai only. http://www.bangkokbank.com/BangkokBankThai/AboutBangkokBank/AboutUs/PropertiesforSale/Search%20Properites%20for%20Sale/Pages/Main.aspx. Link to comment Share on other sites More sharing options...
mrwebb8825 Posted December 10, 2015 Share Posted December 10, 2015 My wife and I are looking at a house in forclosure but the bank wants to hold 2 private bidding sessions to see how much above the total debt defaulted on they can get for it. The owner bought it at 1.2 million, defaulted on 775,000 and is trying to sell it himself for 1.5 million. 1st bidding session starts the 1st week of Jan. The whole process, as I understand it, can take 2 months. Link to comment Share on other sites More sharing options...
ajcnx Posted December 10, 2015 Share Posted December 10, 2015 Hi I bought a land from Kasikorn Bank Last year. It is was marked for a certain price but you can always offer them a price with your letter which is sent to Bangkok Head Office. after consideration they might accept your offer or may be little more than what you offered. everything took around more than a month . but was smooth enough with no hassles. Link to comment Share on other sites More sharing options...
ajcnx Posted December 10, 2015 Share Posted December 10, 2015 Hi I bought a land from Kasikorn Bank Last year. It is was marked for a certain price but you can always offer them a price with your letter which is sent to Bangkok Head Office. after consideration they might accept your offer or may be little more than what you offered. everything took around more than a month . but was smooth enough with no hassles. Link to comment Share on other sites More sharing options...
Daniel Boon Posted December 10, 2015 Share Posted December 10, 2015 is there a site, listing properties in various regions? The site http://www.bangkokbank.com/BangkokBank/AboutBangkokBank/AboutUs/PropertiesForSale/Pages/default.aspx is in english but their site for the properties is in Thai only. http://www.bangkokbank.com/BangkokBankThai/AboutBangkokBank/AboutUs/PropertiesforSale/Search%20Properites%20for%20Sale/Pages/Main.aspx. tried the site, as you said, in Thai, any suggestions for looking for land (several rai or more) in east Surin Link to comment Share on other sites More sharing options...
onthemoon Posted December 10, 2015 Share Posted December 10, 2015 We bought our house from the bank. It was a good deal, as we know the area. I don't remember how long it took, but I certainly doubt it was only a week. Link to comment Share on other sites More sharing options...
khwaibah Posted December 10, 2015 Share Posted December 10, 2015 is there a site, listing properties in various regions? The site http://www.bangkokbank.com/BangkokBank/AboutBangkokBank/AboutUs/PropertiesForSale/Pages/default.aspx is in english but their site for the properties is in Thai only. http://www.bangkokbank.com/BangkokBankThai/AboutBangkokBank/AboutUs/PropertiesforSale/Search%20Properites%20for%20Sale/Pages/Main.aspx. tried the site, as you said, in Thai, any suggestions for looking for land (several rai or more) in east Surin Car and your Thai partner. The only local that I'm aware of that maybe of help is http://www.surin.thaiapartments.net who also has the Corner Cafe. https://www.facebook.com/cornercafesurin Link to comment Share on other sites More sharing options...
spooky2015 Posted December 10, 2015 Author Share Posted December 10, 2015 (edited) Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards Edited December 10, 2015 by spooky2015 Link to comment Share on other sites More sharing options...
jerome2 Posted December 10, 2015 Share Posted December 10, 2015 I had to pay cash otherwise it would take 1 week but the whole process took 2 months plus 1 for the owner to check out of the electic company *#^@)@*$ that could take for ever once you have paid ...and cannot get electricity until they do it Link to comment Share on other sites More sharing options...
billinparadise Posted December 10, 2015 Share Posted December 10, 2015 http://www.krungsriproperty.com/Home.aspx can change to English in top right corner ,,,hope it helps,,,cheers Link to comment Share on other sites More sharing options...
clokwise Posted December 10, 2015 Share Posted December 10, 2015 I've been told the best foreclosed properties are privately offered to the bank's close customers first, what we see in their listings are the leftovers and the not so great deals. Can anyone confirm that? Link to comment Share on other sites More sharing options...
spooky2015 Posted December 10, 2015 Author Share Posted December 10, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than.Mean for me and my thai wife, not enough time for that whole process.I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right?Regards Link to comment Share on other sites More sharing options...
vincentc Posted December 10, 2015 Share Posted December 10, 2015 Hi, Basically, there are multiple sessions at the court were people will be bidding. Say the bank wants 1 million for it. typically the owner would approach a buyer and agree a price (say 1.2 million). at each session, the owner has the right to refuse to let it go for 1 million. then at session 3, it has to go for that 1 million. you then pay a deposit to the court (about 10 percent). you then have 1 month to pay the remainder to the court and register the land in your (wife's) name. the difference is settled with the owner at some point if any. pretty easy and trustworthy, just takes time because of the multiple sessions. you could of course outbid everyone from start but then there are no good deals to make. Link to comment Share on other sites More sharing options...
vincentc Posted December 10, 2015 Share Posted December 10, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards let the in-laws buy it for you if you are not there. Next time, transfer from Daddy to wifey. I remember the transfer fee in that case to be about 1.5 percent only Link to comment Share on other sites More sharing options...
spooky2015 Posted December 10, 2015 Author Share Posted December 10, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards let the in-laws buy it for you if you are not there. Next time, transfer from Daddy to wifey. I remember the transfer fee in that case to be about 1.5 percent only No in laws (Thai Family) available...it´s a pitty. :-( Link to comment Share on other sites More sharing options...
spooky2015 Posted December 10, 2015 Author Share Posted December 10, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards let the in-laws buy it for you if you are not there. Next time, transfer from Daddy to wifey. I remember the transfer fee in that case to be about 1.5 percent only No in laws (Thai Family) available....it´s a pitty. :-( Link to comment Share on other sites More sharing options...
LannaGuy Posted December 10, 2015 Share Posted December 10, 2015 never trust a thai Link to comment Share on other sites More sharing options...
TheCruncher Posted December 10, 2015 Share Posted December 10, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards Your wife can give power of attorney to a lawyer, so he can complete the deal in your absence. Link to comment Share on other sites More sharing options...
LannaGuy Posted December 10, 2015 Share Posted December 10, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards Your wife can give power of attorney to a lawyer, so he can complete the deal in your absence. no matter what you think always protect yourself as there are 1000s of stories of farangs being 'compromised' and thais will always convince themselves it was 'ok' and you 'owed it to them' stop, think and protect yourself Link to comment Share on other sites More sharing options...
cyberfarang Posted December 11, 2015 Share Posted December 11, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards You can`t buy land. Link to comment Share on other sites More sharing options...
LannaGuy Posted December 11, 2015 Share Posted December 11, 2015 Thank you so much for all the quick and usefully Informations. So, from what you said,it seem like around 1 month (or more)is real than. Mean for me and my thai wife, not enough time for that whole process. I guess for move (Transfer) the Land from Bank to my wife name, and also for go to the land office, for that my thai wife have to be in Thailand for sign....i am right? Regards You can`t buy land. His wife's name actually what he's doing is 'gifting' her the land etc. so hope all goes well and he never splits with her otherwise he loses the lot! anyway hope for the best, prepare for the worst would be sensible. I have bought land in a Thai name but I did it with usufruct, will and pre-signed PoA in place! take care, be wise and be safe! cheers Link to comment Share on other sites More sharing options...
MyFriend You Posted December 11, 2015 Share Posted December 11, 2015 I had to pay cash otherwise it would take 1 week but the whole process took 2 months plus 1 for the owner to check out of the electic company *#^@)@*$ that could take for ever once you have paid ...and cannot get electricity until they do it I got pissed off and paid it myself...........they happily accepted my money........problem solved, look, yo bought a house/apartment, why worry over a little thing like an electricity bill..........to hell with principle, you get t move in and be done with paperwork. Link to comment Share on other sites More sharing options...
MyFriend You Posted December 11, 2015 Share Posted December 11, 2015 (edited) I've been told the best foreclosed properties are privately offered to the bank's close customers first, what we see in their listings are the leftovers and the not so great deals. Can anyone confirm that? Told by Who?? GF or Thai wife?? or "GF's Pee Chai" ?? Go to SCB on Wireless Road, they have books full of properties, both for sale and foreclosed...........ask for an English speaking broker - hire a Lawyer - I made 1.3 Million baht profit on an Apartment on Lang Suan in 5 1/2 months...........the Chanote's ink was almost dry when a German Company called me and bought the place...............Beware who you listen too............Signed Fat Bank Account in Thailand Edited December 11, 2015 by TunnelRat69 Link to comment Share on other sites More sharing options...
stander Posted December 11, 2015 Share Posted December 11, 2015 I've been told the best foreclosed properties are privately offered to the bank's close customers first, what we see in their listings are the leftovers and the not so great deals. Can anyone confirm that? We have purchased several properties and land via bank foreclosure and we do now seem to get a heads up from the bank . Link to comment Share on other sites More sharing options...
spooky2015 Posted December 12, 2015 Author Share Posted December 12, 2015 (edited) time run so fast...crazy. Well, in fact i don´t want to pay for a lawyer for do it for me.Now i thinking about to send the bank the letter of intend, do a small deposit (how much is good?) and go back to my Country. In case i will not get the land, bank have to pay the deposit back. In case i can get that land, they will do inform me and i have to come back Thailand for Transfer the land to my wife´s Name. That´s my Plan.....good Plan? Edited December 12, 2015 by spooky2015 Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now