Selling Bangkok condo after I leave Thailand

[roberta]

Having waited almost six months trying to sell my condo, I cannot wait any longer.  I am giving up and going back the the UK in just over 2 weeks.  I have listed my condo with an agency, and they can handle the transaction, but I need a proxy to sign for me.  I feel uneasy about giving this power to the agency.  I have a trusted Thai friend to whom I would like to give the the permanent power of attorney to sign for me in all matters concerning the sale of the specific condo in question, whenever that occurs.  Is this possible?  Do I need a lawyer to do this?  

[BigCinBKK]

Yes.


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[kannot]

You need to go to the land office, they will tell you what to do, you  need to go with your Thai friend , you do  not need a  lawyer

[roberta]

Ah yes, we went to the land office, and they said that we could fill out a paper they gave us and sign it, and bring together with a signed copy of my passport, and she could sign for me - but only for a month!  After that it expires, and we must make a new one, but of course I shall not be here to do so.  So that won't work.

[Senechal]

You should list the property yourself and not trust agencies to do a great job. 

 

If I had a $10 for every listing I've seen where the information was inaccurate, map location was wrong, price had the wrong number of zeroes or photos were awful, I'd be rich by now.

 

Let an agency handle visits, but do the listings yourself.  My two baht.

[trogers]

12 hours ago, roberta said:

Ah yes, we went to the land office, and they said that we could fill out a paper they gave us and sign it, and bring together with a signed copy of my passport, and she could sign for me - but only for a month!  After that it expires, and we must make a new one, but of course I shall not be here to do so.  So that won't work.

Why not get a few more unfilled copies of those papers and sign and mail them to your Thai friend, with the latest signed copy of your passport, when a buyer is found?

[funandsuninbangkok]

Another satisfied real estate investor in Thailand. Stuck with an unsellable condo and going home. 

 

Pigeons enjoy empty units. Make sure to keep a window open. 

 

Rent in Thailand, invest in stocks offshore

[tomwct]

Never buy anything unless you can walk away from it in Thailand. This country is not the "NORM"!

[roberta]

My agent has told me that it is even more difficult than I feared. The paper from the land office can, according to an officer there, be completed without dating it.  The date can be filled in when a sale is assured.  But the agent says that her experience has been that the land office will not actually accept any such thing, unless it has been stamped and sealed by a Thai notary, and only then if she pays 6000 baht to the officer as an incentive.  She says that I can have it so validated at the Thai embassy in London, and she will send the documents to me when a sale is agreed, and I can send them back with said stamps and seals.  I have no idea if this will work or not.  The story seems to change every day about what I can and cannot do.  I will probably end up having to fly back to Bangkok for a few days to deal with this.     

 

I did not intend to "invest" in the condo.  Buying it made economic sense at the time, as the saving of rent was equivalent to a yield of about 4% on the purchase price - far better than any bank could provide, and I expected to spend most of the rest of my years here.  I have had to reduce the asking price but there is now some interest from buyers.  I am leaving Thailand because I have had a change of heart about what is most important to me; I came here for a warm climate and a low cost of living, amidst a congenial population, and I found all of that.  But I also found rapidly worsening traffic congestion, and noise everywhere.  Noise from traffic, noise from loudspeakers blaring in streets, in parks,  from schools, and - worst of all - from temples.  And crowds, crowds everywhere.  As I age, my tolerance for this cacophony has diminished rapidly, and now I long for peace and quiet, for green pastures and woodland ways, for sweetly flowing rivers where waterfowl abound, in short - all that I remember as the best of life in rural England, and if I must live in in penury, and in a far cooler clime to do so, then I must bear it.  That is the reason why my condo is for sale.  

[Destiny1990]

What makes u think it will sell of soon?most likely u have it for many more years  so why sign any poas and other crap?just keep advertising it and in case of a real buyer fly in for to seal the sale.Out of curiosity what condo unit u want to sell in Bkk?

[MyFriend You]

I guess you have considered renting the place??  and decided not too??   Loads of rentals in Bangkok, but loads of people looking for a nice place as well.

I wouldn't trust giving power of attorney to anyone in Thailand, since it is paid for,just have them list it a a reasonable price, bearing in mind this is a down market.  But don;t under any circumstances give poweer of attorney to anyone, especially a lawyer you pbly don;t even know - you may find out you sold it to him for a few hundred thousand baht.

[TerryLH]

If you post details of the condo and the price, you might find someone interested on this site.

[roberta]

7 minutes ago, TerryLH said:

If you post details of the condo and the price, you might find someone interested on this site.

I am not sure that advertising is allowed here, but I'll risk it...

 

Condo for Sale; 107 sq m; 2 bed, 2 bath; Bangkapi. 4 MB

 

Elegantly furnished and decorated condo on the 17th floor of building B at Klongchan Place, near the Mall, Bangkapi. Corner unit, occupying one-quarter of an entire floor.

Very large living/dining room, full western style kitchen with breakfast bar, 2 double bedrooms, 2 bathrooms both with tub and shower, study/office room which can double as an extra bedroom. 2 large balconies, facing two different directions. 5 air-conditioners. Garage parking for 2 cars.

Next to Seri Thai road, with frequent bus service, and opposite the terminal pier of the Khlong Saen Saeb boat service for fast, traffic-free and frequent service to the city centre. About 15 minutes walk from the Mall, Bangkapi. Restaurants and convenience stores in building. Large swimming, pool and gym. 3 elevators. Good security. Sprinkler system in whole building.

 

 

Photos are here;  https://drive.google.com/open?id=0B_SCJmOTYHD4cnIzcl9WZVlHOEUhttps://drive.google.com/open?id=0B_SCJmOTYHD4cnIzcl9WZVlHOEU

[sgracer]

I wouldn't trust anybody, not even the "trusted thai friend" I would sell it myself.

 

maybe have some patience?

 

 

[trogers]

58 minutes ago, roberta said:

I am not sure that advertising is allowed here, but I'll risk it...

 

Condo for Sale; 107 sq m; 2 bed, 2 bath; Bangkapi. 4 MB

 

Elegantly furnished and decorated condo on the 17th floor of building B at Klongchan Place, near the Mall, Bangkapi. Corner unit, occupying one-quarter of an entire floor.

Very large living/dining room, full western style kitchen with breakfast bar, 2 double bedrooms, 2 bathrooms both with tub and shower, study/office room which can double as an extra bedroom. 2 large balconies, facing two different directions. 5 air-conditioners. Garage parking for 2 cars.

Next to Seri Thai road, with frequent bus service, and opposite the terminal pier of the Khlong Saen Saeb boat service for fast, traffic-free and frequent service to the city centre. About 15 minutes walk from the Mall, Bangkapi. Restaurants and convenience stores in building. Large swimming, pool and gym. 3 elevators. Good security. Sprinkler system in whole building.

 

 

Photos are here;  https://drive.google.com/open?id=0B_SCJmOTYHD4cnIzcl9WZVlHOEUhttps://drive.google.com/open?id=0B_SCJmOTYHD4cnIzcl9WZVlHOEU

Prospective sales at a good price for this location (above Bt60k per sqm) would be nearing completion of the train line.

[Monkeyrobot]

When you have a confirmed buyer why don't you fly back for a few days to sign the nessesary paperwork , land office ect and orginize payment to your U.K. Bank , for the cost of an airfare and say 5 days small holiday you will sleep a lot better at night. You might even stay longer and buy another condo!! Good luck with the sale. 

[bazza73]

6 hours ago, roberta said:

My agent has told me that it is even more difficult than I feared. The paper from the land office can, according to an officer there, be completed without dating it.  The date can be filled in when a sale is assured.  But the agent says that her experience has been that the land office will not actually accept any such thing, unless it has been stamped and sealed by a Thai notary, and only then if she pays 6000 baht to the officer as an incentive.  She says that I can have it so validated at the Thai embassy in London, and she will send the documents to me when a sale is agreed, and I can send them back with said stamps and seals.  I have no idea if this will work or not.  The story seems to change every day about what I can and cannot do.  I will probably end up having to fly back to Bangkok for a few days to deal with this.     

 

I did not intend to "invest" in the condo.  Buying it made economic sense at the time, as the saving of rent was equivalent to a yield of about 4% on the purchase price - far better than any bank could provide, and I expected to spend most of the rest of my years here.  I have had to reduce the asking price but there is now some interest from buyers.  I am leaving Thailand because I have had a change of heart about what is most important to me; I came here for a warm climate and a low cost of living, amidst a congenial population, and I found all of that.  But I also found rapidly worsening traffic congestion, and noise everywhere.  Noise from traffic, noise from loudspeakers blaring in streets, in parks,  from schools, and - worst of all - from temples.  And crowds, crowds everywhere.  As I age, my tolerance for this cacophony has diminished rapidly, and now I long for peace and quiet, for green pastures and woodland ways, for sweetly flowing rivers where waterfowl abound, in short - all that I remember as the best of life in rural England, and if I must live in in penury, and in a far cooler clime to do so, then I must bear it.  That is the reason why my condo is for sale.  

I am wondering if you have considered all the options. You could rent the Bangkok condo out while trying to sell it, and move to quieter parts of Thailand. Rent there, and scout around until you find a more congenial place.

[JSixpack]

8 hours ago, tomwct said:

Never buy anything unless you can walk away from it in Thailand. This country is not the "NORM"!

 

You're still leaving our members still exposed to terrifying risk, man. Remember, we don't know what nasty surprises they have in store for us.

 

Now after years of reading postings from our sharpest members with the best advice, in 2014 I distilled the collective wisdom into the now-classic shrewd, street-smart TVF Poster Three Primal Laws Of Survival In Thailand:

 

1. Never invest in anything you aren't ready to lose;

2. Never own more than you can carry with you;

3. Keep your suitcase packed at all times.

 

Which is all we need. Quoting one or more of the Laws properly (as you didn't quite) gives you ten (+10) points of valuable TVF posting cred from the peanut gallery.

 

[tryasimight]

46 minutes ago, JSixpack said:

 

You're still leaving our members still exposed to terrifying risk, man. Remember, we don't know what nasty surprises they have in store for us.

 

Now after years of reading postings from our sharpest members with the best advice, in 2014 I distilled the collective wisdom into the now-classic shrewd, street-smart TVF Poster Three Primal Laws Of Survival In Thailand:

 

1. Never invest in anything you aren't ready to lose;

2. Never own more than you can carry with you;

3. Keep your suitcase packed at all times.

 

Which is all we need. Quoting one or more of the Laws properly (as you didn't quite) gives you ten (+10) points of valuable TVF posting cred from the peanut gallery.

 

You forgot the fourth law..........stay away from Thailand if you are older than your prospective in laws.

[tryasimight]

3 hours ago, trogers said:

Prospective sales at a good price for this location (above Bt60k per sqm) would be nearing completion of the train line.

What are you saying? He is overpriced, underpriced? not close enough to the train line? Give some clarity to your post as it seems to be written with some professional knowledge,

100m or so sq m @ 60k per sq m would make his condo seem quite cheap at 4 m thb as opposed to 6m thb

[guzzi850m2]

Nice condo, should be possible to sell to the right buyer, be patient.

 

So you leave Thailand just like that? Have you considered trying living up north? Chang Rai? mountains, rivers, cold in the winters.

 

No don't trust anybody man. If you insists going home, wait for the agent to contact you when eventually the condo is sold and then fly out and do the transfer.

 

Maybe a good lawyer in Bangkok can do it on your behalf? Okay will cost some money but better be safe than sorry.

 

Do you have more than one agent? When I had my 1st house for sale, I had it listed at 3 agents under an written agreement, no sale, no money for them.

[ericthai]

9 hours ago, tomwct said:

Never buy anything unless you can walk away from it in Thailand. This country is not the "NORM"!

So what did you lose??   Please tell me what country is the Norm?

[trogers]

1 hour ago, tryasimight said:

What are you saying? He is overpriced, underpriced? not close enough to the train line? Give some clarity to your post as it seems to be written with some professional knowledge,

100m or so sq m @ 60k per sq m would make his condo seem quite cheap at 4 m thb as opposed to 6m thb

That area is a shopping and transport hub, needing a mass transit to complete the package. Property values will climb, esp when new projects are priced above Bt100k per sqm in the next 5 years.

 

 

[ericthai]

Just now, trogers said:

That area is a shopping and transport hub, needing a mass transit to complete the package. Property values will climb, esp when new projects are priced above Bt100k per sqm in the next 5 years.

 

 

I agree with you.   

 

OP I can now understand why things are bothering you so much Bangkapi is just crazy area.

As others have mentioned you might want to hold on to you condo for a few years if you can afford too. The price in that area is going to go up.  Also why dont you check out Chang Mai / Chang rai area you can be on the outskirts of Chang Mai away from the city noise and traffic.

[11223344]

2 hours ago, tryasimight said:

What are you saying? He is overpriced, underpriced? not close enough to the train line? Give some clarity to your post as it seems to be written with some professional knowledge,

100m or so sq m @ 60k per sq m would make his condo seem quite cheap at 4 m thb as opposed to 6m thb

You can buy @60k per sq m in Sukhumvit 13 ...

[trogers]

32 minutes ago, 11223344 said:

You can buy @60k per sq m in Sukhumvit 13 ...

Not that hooker infested building/area...?

[Destiny1990]

1 hour ago, 11223344 said:

You can buy @60k per sq m in Sukhumvit 13 ...

Do u mean above the Trendymall in soi 13?or another building.

[lungnorm]

Just rent it out thru the agent and leave it to someone in your will and they will will get the condo and all the associated problems selling it from afar!!!

[kannot]

On 6/1/2017 at 7:48 PM, roberta said:

Ah yes, we went to the land office, and they said that we could fill out a paper they gave us and sign it, and bring together with a signed copy of my passport, and she could sign for me - but only for a month!  After that it expires, and we must make a new one, but of course I shall not be here to do so.  So that won't work.

My Wife has done this regularly with a few customers and it was  longer than a month. Maybe she knows the staff better at  the land office?

This is the land office at (close to) Seacon Square/Paradise Park shopping malls...............can guarantee youll get a different answer if asking at another office/same office different day/person

[Khon Kaen Dave]

Too many slips twixt cup and lip. In this case, the guy will be completely helpless once outside the country.Too many unscrupulous and greedy people out there. And you will have to have a descent amount of ready cash, to be able to buy a quick ticket back to the LOS (land of scams) when it all starts going tits up.

Beware trusted lawyers, and 'friends' when there is money to be made/stolen. Collusion is the word here methinks.

Good luck.