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Dear Forum,

 

I would like to sell 'my' house in Thailand which is situated in a nice moo barn in Bangkok. The place is about seven years old on a newish build but since I no longer live there I am trying to cut all my liabilities. Plus I can't be arsed with the place anymore too. Its fully furnished with top of the range stuff so will hopefully be able to sell it as it is. 

 

I'm just wondering the process / pit falls I need to look out for when getting an agent to list the property. I've never had to sell a house before so have no idea of the process. I suppose I need to get it valued first, then it goes on the market etc etc?  Can anyone help advise on the best way so I don't end up getting ripped off in the process? Is it pretty much a similar process to the UK when doing this?

 

Cheers, 


Dave,

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Indicate a price, maybe someone here will be interested. What area in BKK?

Edited by PatOngo

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12 minutes ago, chonburi12 said:

Is it pretty much a similar process to the UK when doing this?

Oh, yes.... nothing worry 

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Indicate a price, maybe someone here will be interested. What area in BKK?
Are you allowed to advertise a house for sale on this forum? Cause I've got one for sale as well.

Sent from my SM-J700F using Tapatalk

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Just now, carlyai said:

Are you allowed to advertise a house for sale on this forum? Cause I've got one for sale as well.

Sent from my SM-J700F using Tapatalk
 

Where?

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40 minutes ago, ChipButty said:

It's a buyers market at the moment second hand houses are not selling in Phuket unless it's in a fire sale, I know of one villa where they paid 12 million some years ago cant even get 8 million for it,

Sounds about right.

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 The selling process is simpler than the UK process-if the property is in a Thai name.If it is in a Thai name then your prospects will be Thai.

It is very  simple and very  cheap if the the property is in a company name. Typically in this circumstance your prospects will be Farang.

My view is that house building  slowed to almost zero as a consequence of the rise in the Baht . I think that there is a shortages of houses. This is my sense based on the Pattaya market. Friends of mine -again in Pattaya had no difficulty in selling their house. Selling condos is difficult -almost to being impossible.

Your post suggests that  you are a Brit.

I would set a minimum price in Baht such that you get back your original investment  as measured  in Sterling.

You may have to throw in the furniture.

 

 

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8 hours ago, carlyai said:

Are you allowed to advertise a house for sale on this forum? Cause I've got one for sale as well.
 

 

You can put your personal ads here.

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Don't know any real estate agents in Bangkok.  I have read 3% - 5% commission is normal for agents.

ThaiVisa has its own section on houses for sale if interested in advertising here.

https://property.thaivisa.com/ 

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You can use multiple agents, just make a good set of photos.

Agents ask 3-5%

Free good portals are DDproperty(com) DotProperty co th and also bahtsold.

Some of the franchise agents, are very pushy to let you sign papers (with nice fairy tales). Their only goal is to become the main broker, they will not work harder for you but just sit on it. Other agents will become less interested anymore. (as the main agent want comm. share without doing anything) My wife made that mistake 5 years ago... 

So keep it open for all agents.

Bangkok market is totally geared to Thai, so if you house is in company you have to calculate first transfer cost, and the corporate income tax when closing down the company. have the financials ready so that you know what you get nett in your pocket. Common a Thai dont want the company, as they need a loan.

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I've sold two houses in Bangkok.

 

From my experience agents are a complete waste of time and a rip off. They do very little that you can't do yourself for free but charge a lot for it. Basically , all they do is place pictures of your property on various websites with their contact number so that a buyer has to go through them.

 

You can post your own pictures on popular websites for free. The most popular is DD Property in both Thai and English.

 

https://www.ddproperty.com/

 

I used this website and others who's names I have forgotten.

The result was several phone calls from agents offering to sell my house .......only one call was a buyer.

 

To cut it short , by far and away the most effective method to sell your house is to put a large for sale sign on your front gate with your phone number.  Doing this I was approached by half a dozen buyers , one of whom bought the house.

 

Sometimes, people living in the same moobahn will offer to introduce you to a buyer ( a relative or friend of theirs ) for a small commission...typically 5000 bahtish. This also works well and is a lot cheaper than an agents fees.

 

Agents say they will take care of all the paperwork but there is not much of this and on the day of the sale ( when the cash changes hands ) you will have to go the land office anyway to sign various documents.

 

A common bit of corruption you will often come across is when people declare to the land office that the sale price is a lot lower than the real sale price. This reduces taxes to be paid and all parties get a slice of the savings with only the government taking the hit.

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15 hours ago, Denim said:

I've sold two houses in Bangkok.

 

From my experience agents are a complete waste of time and a rip off. They do very little that you can't do yourself for free but charge a lot for it. Basically , all they do is place pictures of your property on various websites with their contact number so that a buyer has to go through them.

 

You can post your own pictures on popular websites for free. The most popular is DD Property in both Thai and English.

 

https://www.ddproperty.com/

 

I used this website and others who's names I have forgotten.

The result was several phone calls from agents offering to sell my house .......only one call was a buyer.

 

To cut it short , by far and away the most effective method to sell your house is to put a large for sale sign on your front gate with your phone number.  Doing this I was approached by half a dozen buyers , one of whom bought the house.

 

Sometimes, people living in the same moobahn will offer to introduce you to a buyer ( a relative or friend of theirs ) for a small commission...typically 5000 bahtish. This also works well and is a lot cheaper than an agents fees.

 

Agents say they will take care of all the paperwork but there is not much of this and on the day of the sale ( when the cash changes hands ) you will have to go the land office anyway to sign various documents.

 

A common bit of corruption you will often come across is when people declare to the land office that the sale price is a lot lower than the real sale price. This reduces taxes to be paid and all parties get a slice of the savings with only the government taking the hit.

Many thanks for your advice. So whats the process once you have a buyer? How do you prevent being ripped off and actually make sure they pay you? Its financed on a mortgage through the Bank so I am not sure how the transaction goes through?

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