Setting a property sales price

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laphanphon
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Re: Setting a property sales price

Post by laphanphon » Sat Dec 31, 2016 3:19 pm

Depends on a lot of variables.

You could actually find out the assessed price, as their are 2 gov't websites for taxation purposes, at least where I am (Udon Thani) and quite accurate. One for land pricing, and other for structures. And no I don't have, wife does, and all in Thai.

Now weigh that against what you paid, hopefully not too much, and what you want to sell for.

I've oversaw 2 builds, and expected and got 10 % ROI per year on the first build, sold, and expect the same on the second build, under contract to sell now. Lived 7 years in first house and 5 years in this house, so a decent ROI, and have lived rent free for 12+ years of the 16 that I've been here.

As anywhere, should be easy to price, taking those not being motivated sellers in your development, and taking the average price, 2nd market, not buy in price, per sq meter and land size of land/property already sold, giving a good estimate of your market price for your development.

Hopefully you bought wisely, and will get a nice ROI. At worse, break even and lived rent free.
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Re: Setting a property sales price

Post by jingjoe » Sat Dec 31, 2016 4:56 pm

if you have a price in mind for your house, go visit a few real estates and ask them what can i buy for this amount and what as sold recently for this price, then you can compare location, house size, conditions etc to your place.

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Re: Setting a property sales price

Post by aragon » Mon Jan 02, 2017 12:22 pm

magnum wrote:I used well known world wide agent who came to house took all pictures and did all the work sold within 4 week.
Hi magnum: Could you share the contact details of this agent, as we have a place we want to sell and the agents we've dealt with so far have been absolutely US.
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Re: Setting a property sales price

Post by StevePIraq » Mon Jan 02, 2017 12:52 pm

hhfarang wrote:
It's exactly what I have always been saying that this market is not like western property markets where one expects the property to appreciate, here it is the other way around.
Wow, that's sad to hear. We sold our home there about 3 years ago and exactly doubled our money. It took 5 years to sell but we expected that because of the high price range it was in. I know of another expat there that built a home in town for around 8 million and sold it for 28 million several years later. It also took a few years to sell but but he made a 250% profit. I guess it's a different market now...
So how did he come up with a value of 28m for a property built at a cost of 8m?
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Re: Setting a property sales price

Post by caller » Mon Jan 02, 2017 6:49 pm

StevePIraq wrote:So how did he come up with a value of 28m for a property built at a cost of 8m?
Time & location is surely the answer to that. Same as anywhere. I bought a house in 1999 that was built in 1918, I'm willing to bet that the value far exceeded the build cost!

My sister and her hubby bought land and built at Noosa Waters in QLD. 18 months later they sold it for double the price it cost them to buy and build.
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Re: Setting a property sales price

Post by JamesWest » Mon Jan 02, 2017 7:13 pm

as people convey their experiences buying and selling, it would be helpful if you added a date, maybe just a year that you bought and sold.

only because the markets are changing and it would add some perspective.

and did you sell to a thai/farang or to only a farang?
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Re: Setting a property sales price

Post by laphanphon » Mon Jan 02, 2017 10:01 pm

Built 2000, sold 2007. Rented 3 year.

Built 2011, sold now, under contract awaiting financing. Actually a builder is buying the house.....LOL

Land prices have skyrocketed, to silly prices, especially in 'in town', along some building materials, about 10 % a year. Though many things fairly consistent pricing, surprisingly. Simply the availability of newer, modern materials, and styling.
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Re: Setting a property sales price

Post by hhfarang » Tue Jan 03, 2017 12:23 am

StevePIraq wrote:
hhfarang wrote:
It's exactly what I have always been saying that this market is not like western property markets where one expects the property to appreciate, here it is the other way around.
Wow, that's sad to hear. We sold our home there about 3 years ago and exactly doubled our money. It took 5 years to sell but we expected that because of the high price range it was in. I know of another expat there that built a home in town for around 8 million and sold it for 28 million several years later. It also took a few years to sell but but he made a 250% profit. I guess it's a different market now...
So how did he come up with a value of 28m for a property built at a cost of 8m?
I don't know how he came up with it but he originally asked 30m, then reduced it to 28m for which it eventually sold. He built it around 2002, lived in it for about 10 years. It was a mansion in town near Phetkasem in the area between Soi 94 and Market Village Mall. My home was comparable in build and on a much larger piece of land, but it was located out of town to the south so due to location only it went for about 12m less. Both were sold within a year of each other in the 2012-2013 time frame.
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Re: Setting a property sales price

Post by StevePIraq » Tue Jan 03, 2017 9:35 am

Hey guys thanks for all the input, some very valuable info provided.

Another question, is the a Thai marketing network as the only property agents I have seen deal in either English or Russian, there must be a large market for advertising to Thais.
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Re: Setting a property sales price

Post by PBbeacher » Tue Jan 03, 2017 10:13 am

Thai's typically do not like to buy second hand property, especially houses (things that go bump in the night!)

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Re: Setting a property sales price

Post by laphanphon » Tue Jan 03, 2017 11:47 am

Then who's buying all these 2nd hand houses, as only Thais are legally able to own...........and expats don't even add up to a tenth of a % on the population scale.
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Re: Setting a property sales price

Post by StevePIraq » Tue Jan 03, 2017 12:01 pm

Many Thais rent so maybe Thais buy these cheap homes and rent them out to Thais.
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Re: Setting a property sales price

Post by jingjoe » Tue Jan 03, 2017 1:53 pm

i sold my last house to a thai pilot, my agent used this site below,..about prices i looked at this yesterday a 3bed 3bath house 160sqm 2 stories, nine years old on 460sqm plot, nice tidy estate, needs some painting and furniture, listed at 4.4 million bht, owner accepted 2.2 million bht, said it had been on market for two years and he wanted out..

[Mod Edit] T&Cs do not permit links to property agents (I'm sure StevePIraq has seen it)

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Re: Setting a property sales price

Post by StevePIraq » Tue Jan 03, 2017 2:30 pm

On checking the web site I see two properties on my development at total give away prices including furniture, well below build cost when new, and they have both been on the market for ages. Makes me think I may have to offer some Green Shield stamps and a set of knives with mine.
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Re: Setting a property sales price

Post by caller » Tue Jan 03, 2017 7:01 pm

I do question what properties are actually truly available on some agents websites? When I was looking, I went to one agents (not the one I eventually bought from) after studying their website and asked to view 8 properties. Of that 8, I was taken to 2 and a few others that I hadn't asked to see and more annoyingly, a couple on a development that I had first viewed 10 years earlier and wasn't interested in, as well as being taken to some, however nice, that didn't even have the 3-bedrooms I requested.

Likewise, after studying the window of another agent, I went in and queried 2/3 properties where I already knew the developments, only to be told that they were no longer available.
Talk is cheap

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