Making an offer

Hi everyone, just need a little bit of info to perhaps save me a few pounds. When buying property or land in Thailand is it the norm to make an offer, as is common practice everywhere else, if this is the case what is a sensible percentage discount to pitch an offer. Will be in Udon 6th May would like to put some faces to some names.

Daz

you mean ' when your thai wife, or thai girlfriend is buying land in thailand with your money ' can you barter for a lower price..hell yes, but good to do some homework, and find out the general going rate in the area first, then you will have some idea if his price is high, and what he may come down too..

maaka wrote:you mean ' when your thai wife, or thai girlfriend is buying land in thailand with your money'

Well stated.

I didn't think there was anything wrong with the OP's statement. He never insinuated ownership! Just a simple question relating to the buying of land. Shlt most of us have done it.

It's very important to make sure the land is free of emcumnances, quite easy with Chanoot titled property but if it's lease hold farm land you will need to talk to the Puyai Baan (village head man) and get advise from the village elders, they know most everything the land holders are doing with it including hocking it to the 'Land Bank' and normally act as witnesses whenever any trading is carried out with this type of land.

You will have to pay the taxes on the transaction -- VAT 7% and any back taxes owing on the land if it is found in arrears later.(Normally in the way of a Land Tax which is only a few baht per Rai per year)

Be careful when paying a deposit - normally 10% and NOT refundable so have all your check and balances in place before taking that step.

Sure negotiate and look at the property trends in area. Try to hide the fact that a Farang is funding or even interested in it.

Bandung_Dero wrote:Be careful when paying a deposit - normally 10% and NOT refundable so have all your check and balances in place before taking that step.

OT would go as far as to say do not pay a deposit. When you are ready to make the puchase, go to the land office with the seller, get everything transfered into your WFB's name, you will also have to sign something to say you paid for it - then go to the bank with the seller and pay them in full in the bank. That's the way I've done it ( a few times).
As for making an offer in the first place, always look for a saving on the asking price, so go ahead and make an offer.

OT...............

It's important to research the price of land in the area you are considering. This means selling prices, not asking prices. Generally, it means having your GF/Wife asking lots of people about land. If she can do this without them knowing she is connected to a foreigner it's all the better. If she's not your wife of long standing, there is always the possibility that she will inflate prices to she can earn a commission or under the table payment on any sale.

Some landowners will greatly inflate their previous asking price if they know a foreigner is involved, so it's not possible to suggest a percentage to knock off in making an offer.

A lady down the street from us was asking 1.2 million for 300 talang wa a couple months ago according to a neighbor. When my wife inquired about the price the lady stated 4 million. She knows my wife is married to a foreigner.

On making a deposit. Offer 5,000 baht regardless of the cost of the land. Any deposit is likely to be lost if something happens and the deal doesn't go through. If that amount is refused then try 10,000. No need to risk more than necessary. Any number of things can happen to ruin a deal.

Spend at least 3-6 months just looking and getting a feel for where YOU want to live. Good luck.