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phungo

Tips for real estate agent / how to sell farm land

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Posted (edited)

My thai wife has inherited 9 rai of farmland in Aranyaprathet. We've been trying to sell it by getting a real estate agent, it's been over a year but nothing has happened. The agent doesn't do any postings of the land, does not contact us, when we contact him, we get the same answer that hes workimg on it. This is now starting to really <deleted> me off. Why don't he just say he dont want to do it anymore instead of wasting our time for over a year now.

 

We have so many questions that could use this forum's help and guidance.

 

1. How much do you think we could sell for? The land is fertile and grows rice,

mangos, coconuts, etc.

2. We want to sell it ASAP b/c we need the money. How long do you think this takes?

3. Are there well known agents or buyers that you know of that we could comtact?

4. What is the tax rate for this? if land sold for 100 baht, how much will we actually get?

 

Thanks for your help!

 

Edited by phungo
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It useally goes from mouth to mouth among neighbours. 

 

The price?

 

what other pay for farm land in the neighbourhood with same title, close to infrastructure, water etc. 

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What title is the land and does it have it's own paper.

Are family currently farming the land or sitting idle.

More information needed,if as good as you say it is it would have been picked up in a month if the price was right.

 

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Nice hearing that it could be sold as quick as a month. It has its own title, wife said the title is the kind for land with no house on it. She doesn't know what to call it.

Family is farming the land.

 

It is next to (3 min walk) a new road being built to get to the Cambodia border/Rong Klua from Aranyaprathet. It is 15 minutes from the border.

 

Are there any pointers on how to sell this? Do we go talk to all the neighbors to see who wants to buy it? Find a new real estate agent? 

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13 minutes ago, phungo said:

Are there any pointers on how to sell this? Do we go talk to all the neighbors to see who wants to buy it? Find a new real estate agent? 

Word of mouth is usually the way land sells, should have a mayor if its close to a village, the mayor is usually a good source, and can spread the word, Thai's usually make a commission from this, so you will have to pay for their referral of a buyer, something you can negotiate first.

 

Things are slow at the moment, economy isn't that good and banks are tightening up from what I hear.

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Everything from 50 - 70 000 a rai I would guess from what you describe!

 

I have seen farmland as you describe starts from 130 000,- pr rai with chanote next to a district road. The most places I have been in Isan, the lowest price I have seen is 50 000,- for por bor 5 (i think it was called)

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36 minutes ago, phungo said:

Nice hearing that it could be sold as quick as a month. It has its own title, wife said the title is the kind for land with no house on it. She doesn't know what to call it.

Family is farming the land.

 

It is next to (3 min walk) a new road being built to get to the Cambodia border/Rong Klua from Aranyaprathet. It is 15 minutes from the border.

 

Are there any pointers on how to sell this? Do we go talk to all the neighbors to see who wants to buy it? Find a new real estate agent? 

I'm afraid if the family is farming the land it will be hard.

Put up a sign with phone number and 30,000 baht/rai.

If you get interest you can always put the price up.

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Posted (edited)

He cant be bothered because its to expensive. Keep dropping the price untill you meet the market (for land sold not asking price) How much you asking for it right now

Edited by madmen
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Posted (edited)

Realtors are useless selling land

 

You should kick yourself for letting a realtor waste a year

 

30,000 a rai is about right for farmland

 

Need to advertise on Thai social media websights and Thai newspapers put a sign on the property with a phone number talk to all the neighbors

 

However if you are in desperate need for this money, sounds like you have bigger problems than that

 

That money might stretch a year, then what?

 

 

 

 

Edited by bwpage3
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thanks for all the replies!

 

The title is a chanote.

She is asking for 1.2 million baht per rai. She has talked to neighbor and says that the going rate is 1 to 1.2 M. 

 

This seems like a huge discrepancy to what you suggested the price to be.

 

Prices on here seem to be a bit more in the ball park of what she is saying but there is a huge range also. https://www.ddproperty.com/en/sa-kaeo/aranyaprathet

 

I have no idea. I told her that if we can sell it for 1M / rai I'd be super happy.

 

 

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23 hours ago, phungo said:

We want to sell it ASAP b/c we need the money. How long do you think this takes?

If you want to sell it asap .... then price it accordingly.

Local land office has prices for land in most areas so they would be the one to contact and get an idea of what is the current rate per rai,  then cut 20% off that and place it on the internet, contact ddproperty thailand and have it placed with them and on their website, get some advertised posters made up with a picture of the land and size and price and place a few of them around near the land location & on the land of course.

Then wait for the call ... 

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47 minutes ago, phungo said:

thanks for all the replies!

 

The title is a chanote.

She is asking for 1.2 million baht per rai. She has talked to neighbor and says that the going rate is 1 to 1.2 M. 

 

This seems like a huge discrepancy to what you suggested the price to be.

 

Prices on here seem to be a bit more in the ball park of what she is saying but there is a huge range also. https://www.ddproperty.com/en/sa-kaeo/aranyaprathet

 

I have no idea. I told her that if we can sell it for 1M / rai I'd be super happy.

 

 

Chanote is the highest grade of land title and allows you to build permanent structures upon the land (in accordance with local building regulations) so it could be used for development which adds value. Farming land typically has a low grade title like Tor Bor 5 which does not allow for property development and so is typically used for crops or as a pasture/garden etc. This would have a much lower value. I don't know your area or the land prices there but the Chanote title would indicate a higher value. Try asking the local land office what their valuation would be (they would know for transfer tax purposes).

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2 hours ago, Democracy74 said:

Try asking the local land office what their valuation would be (they would know for transfer tax purposes).

Was going to say the same.. Land office rates are usually low, but thats 'quick sale' rate. 

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