Pianoman Posted July 17, 2002 Report Share Posted July 17, 2002 My GF has the chance to purchase her family's small house and about 2 acares of land about 2 hours northeast of Bangkok.. Father died four years ago, and Mother can't keep up the payments to the bank... She can take/purchase the place by just taking over the remaining bank payments and allowing "Mom" to stay until she dies... I have not heard from the bank regarding the balance owed as of yet, but thought I would ask if anyone could even give me an idea/range of what the value could be... Are we talking $5,000 USD or $50,000 USD????? Any input would be greatly appreciated... Pianoman Link to comment Share on other sites More sharing options...
Guest Posted July 17, 2002 Report Share Posted July 17, 2002 Hard to say without more description. Is it in town, outside of town, farm (moneymaking), on the banks of a river? Is it desirable land? Is there a paved road? I assume there's electricity. A pile of rocks 10 km from town by a terrible dirt road will be worth very little no matter how nice the house is....maybe less than $5000. A cardboard shack in town across the street from the market could be worth quite a bit more...maybe more than $100,000. Link to comment Share on other sites More sharing options...
Pianoman Posted July 18, 2002 Author Report Share Posted July 18, 2002 The land is flat, large pond at far end where PaPa use to raise fish and frogs to sell... on paved road about 2 miles out of a small village.... Electricity, water is from a well.... Not really a "Garden Spot", but then I would not intend on living there myself.... Again, any suggestions / guesses / estimates of value would be greatly appreciated... Pianoman Link to comment Share on other sites More sharing options...
Guest Posted July 18, 2002 Report Share Posted July 18, 2002 Based on my experience in the Philippines which is comparable to Thailand I would say that your 2 acres or approx 1 hectare (2.2 acres) would likely be worth less than $10,000 and probably closer to $5000. I sold 3 family lots in the Philippines, about 300 miles from Manila. 1) .75 develped and landscaped hectares on the beach for $150,000 with pool and nice but deteriorating house 2) .66 hectares, 100m from the beach for $5000 3) 1.8 hectares, 500 m from the beach for $5000 All these lots had electricity but not a paved road. All prices paid were considered very low. I could have held out for double. #'s 2 & 3 were both income producing coconut plantations Link to comment Share on other sites More sharing options...
think_too_mut Posted July 18, 2002 Report Share Posted July 18, 2002 Really hard to say..... What I know - 6 hours from BKK (Sa Kaew) , 20x20m block of land, village, residential area, on the paved road = 50K bahts. A small, new, one large room house on it - another 50 K bahs. You may expect many conflicting responses here... Link to comment Share on other sites More sharing options...
Pianoman Posted July 19, 2002 Author Report Share Posted July 19, 2002 Thanks for all of the input... Assuming that "PaPa" was paying the bank over the last 8 to 10 years, and that the Current Value is in the 100,000 baht range, it seems that it might be a good idea to consider paying off the balance with the hopes of making a few baht down the road... Oh,well, Time (and the bank) will tell... Again, thanks for the input.. Pianoman Link to comment Share on other sites More sharing options...
sinsin2 Posted July 22, 2002 Report Share Posted July 22, 2002 land 20,000b per rai ...tops. house 200,000b sounds fair....depends 0n the quality of the wood. Link to comment Share on other sites More sharing options...
Pianoman Posted July 23, 2002 Author Report Share Posted July 23, 2002 Just got the numbers from the bank, and will look into it further when I arrive next month... Balance owed on principle 257,608 baht... Current unpaid "debt charge" 27,471 baht... Interest rate is 6.75%... So, it looks like for a little over $7,000 USD plus legal fees, I can own (O.K., control) some property in Thailand... Pianoman Link to comment Share on other sites More sharing options...
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