Repossessed houses for sale?

[willyumiii]

I am looking to purchase a house in my daughter's name, and am wondering if there is a website that lists repossesed houses for sale in Thailand.

All of the well meaning folks who will want to warn me about the reasons to not buy a house in Thailand need not bother.

I am tired of renting and throwing money away that I could be investing for my daughter's future.

I am doing this for her and not myself.

Any helpful information about where to find a list of decent, reasonably priced houses, even one worth fixing up a bit, would be appreciated.

I am not wealthy, but can afford to buy something decent.

I don't want a farang Mc Mansion...just a decent place to raise my family.

Thanks in advance.

To be a little more area specific, I live south of Korat and prefer this area..close enough to the city to get what I need when I need it, but not in the city itself.

Edited May 1, 2016 by willyumiii

[CharlieH]

YES the Banks often have listings, check their websites.

MOVED to Real Estate

[trogers]

Auction for one at the Legal Execution Dept, instead of inflated prices of websites of banks.

www.led.go.th

[CharlieH]

As an example:

To everyone who is interested KBank foreclose property, if you would like to get more information, please do not hesitate to call Asset Quality Management Department, Asset Quality Management Network nationwide or contact to KBank branches.If you would like to get more information, please feel free to contact foreclose property department, KASIKORNBANK Phaholyothin 4 fl., 8.30 a.m.- 4.30 p.m. or make a directly call at 0-2273-2571, 0-2273-2563, 0-2273-2568, 0-2562-6406-7 Mr.Tosapol Chungchaiyart, Mr.Pramote Unnawasakul, Ms.Supana Vanitchwattanakul.

[tomwct]

When a Bank offers a property for sale, the price listed is the price the bank wants. Most are overpriced 20%, so offer 20%

less in writing or wait until the bank auctions the house or land at a legitimate auction. Good Luck! Remember, if you and your daughter

have a problem, it's her property not yours! This is Thailand!

[fosseway]

When a Bank offers a property for sale, the price listed is the price the bank wants. Most are overpriced 20%, so offer 20%

less in writing or wait until the bank auctions the house or land at a legitimate auction. Good Luck! Remember, if you and your daughter

have a problem, it's her property not yours! This is Thailand!

Be very careful when buying at auction in Thailand, there is very little protection for the buyer built into Thai law, there are moves afoot to change this, When ?

A Thai friend bought a condo at a government auction, under the hammer, 4 years ago, for about 4 million, spent around 2 million in renovation costs, after about a year, the previous owner took my friend to court, contesting the sale, they won the case, the verdict saying the auction was at fault, my friend appealed, it has now been stuck in the high court for more than a year.

[Pib]

Normally you have to go to the banks and/or to their websites to see their property listings....and don't be surprised if the sites are in Thai only but google translate can help...for example the Bangkok Bank Property webpage.

[Paul944]

I found this site a while ago, http://mister-kwai.com/foreclosure-thailand-bangkok.html

ddproperty.com and bahtsold.com also have real estate listings. Best is to let the family ask around, more change to get a decent price.

[SOUTHERNSTAR]

We flip property and the only thing I can warn you about is that many of these properties are occupied by the previous owners. To get them out can be a hassle, court cases etc. Better to buy a property thats not occupied.

[khunPer]

As CharlieH has also mentioned, most banks have some listings. Up Issan I've seen photos and info on paper taped in the local branch, whilst KBank – and presumably others – have a printed folder covering the area/province. Some banks may list reprocessed properties on their webpage. KBank especially seem to be very positive in selling and offers finance also, but check the price level in the area, as the bank may wish to sell for what is due to them, and that might be over the market value...

[attento]

Do repossessed properties attract a lower sale price than those sold for other reasons?

If so, where is the "catch" ?

I have always believed that if something is sold below market value, there must be a reason (but not necessarily bad).

[sanukjim]

Many of repossession ed properties has many hidden liens and the bank or mortgage company will sell you there lien with out you knowing about the others.

[BritManToo]

I've never seen a repossessed bank bargain.

All the one's I've seen looked run down and way overpriced.

[1FinickyOne]

Banks have lists of property and you may be best off to buy land and then build from there... but as you know, the values of homes usually depreciate here... and for good reason.

[1FinickyOne]

Do repossessed properties attract a lower sale price than those sold for other reasons?

If so, where is the "catch" ?

I have always believed that if something is sold below market value, there must be a reason (but not necessarily bad).

They attract a lower sales price because they are not easy to re-sell.

[csabo]

http://www.thailand-real-estate-law-center.com/thailand-real-estate-attorney/thailand-foreclosures-resource-list/

Link has a dozen or so links to bank owned property sites each with multiple listings. I did not delve deeper searching specifically for Korat as you must do some of this on your own. Seems someone who is afraid of Google might want to rethink getting involved with a potentially disastrous legal nightmare but have it your way.

[bogozy]

9 years ago, we bought a reposessed small house from the bank. The price was reasonable, in accordance with the issues of the house.

My wife organised a renewing and extending work, so at now, the house is very nice and comfortable. Of course before my cautious wife did walk around and looking after all possibile cheats. So it was a good deal.

[rgs2001uk]

For all you guys looking for cheap houses, they dont exist, or they are cheap for a reason.

Developer ran out of money, the village looks like a ghost town, people just walked away.

Go and check out the tumble weed and empty pilings gathering rust in some of these repossessed properties, even the Thais were smart enough to walk away.

Go check out where the houses are sinking from lack of piling.

Go check out some of the scuzzy condos.

[thai3]

Just looked at the Bangkok bank list, one one there where we used to live, condo not a house. They always went for about 800k, on the site they are asking 924k, hardly a bargain and I imagine the rest are the same.