mortgages

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mortgages

Postby fredlk » Sun Sep 25, 2011 11:34 am

We, that is our friend Gam, did some research which took a lot of effort and digging in the files at the Land Office as they weren't willing to do so.
It seems that one of the two 160 Talang Wah plots behind me has been mortgaged, re-mortgaged, mortgaged again quite a few times and is currently mortgaged for 800,000 Baht. :shock:
This puts the price of land here almost on a par with Pattaya, but as a lot of it will be likewise mortgaged, sales of distressed property will take place regularly.
The other day a man from Kasikorn came asking for our help in locating a couple of plots as they needed to see it with a view to approving a mortgage.
I wisely didn't mention the price of the land I'm sitting on as it might affect the person's chances of acquiring the loan.
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Re: mortgages

Postby gliffaes » Tue Sep 27, 2011 6:47 am

I can only give my own exampl but having paid 800k for 10 rai norsorsamgor i sa w down the road a repo board from the bank and the wife asked them the price and it was 3 times our land prices. Its no different in fact id say worse so watch out all deals arent good and depends how much the bank loaned in the first place.
Either that or the wife is a hell of a negotiator or we got a real bargain?
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Re: mortgages

Postby otis-a » Tue Sep 27, 2011 8:38 am

10 rai of plain country land in these parts goes for about 500k tb
where to park dog when in town? A barking lot... :-)))
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