Hello and please accept my apologies for going straight to posting rather than the usual Intros, etc. I feel I'm on a time sensitive issue here.
I'll graciously accept any comments regarding this impending transaction.
Being a long time reader here (especially in this section) I know many of you are quite knowledgeable in the area of land, farming and general rural living in Thailand. For this reason, I come to you today.
I'd put my shingle out through a few acquaintances regarding interest in purchasing farmland in Issan either as a short or long term investment or simply as a gift.
Something very close to home surfaced today.
My sweet little Issaner teerak has an uncle. Her Mom's sister is married to him. We call him "Police," cuz he's been an accountant for the police for most of his working life. He has always been more than kind and gracious to her immediate family (my in-laws) over the years, long before she met the token breadwinner of the farangi persuasion (that'd be me). I've met him on several occasions and if my perceptions mean anything - he's about as solid as they come.
The Police's grandfather signed 7 Rai of rice paddy (Chanote) land over to him several years ago and since that time it has been producing "suay" rice and doing quite well. I believe any earnings are still sent to Grandpa who lives quite a distance away.
Well, grandpa wants to sell and Police has offered it me.
This is located between Udon and Sakonnakorn, closer to Udon and East of HWY 2.
• 7 Rai of Rice land (currently ready to cut)
• 250,000 baht w/ Chanote
• Flat land
• Old waterhole (may need fresh dredging)
• Next to family plots
• Right off concrete road / connects to highway
Recently 2 rai was purchased nearby by others @ 400,000
Others have shown interest but don't have the scratch.
Also, he has NOT broadcasted this around the village, nor published anything or registered with any agents. In short, he considers this offer a family favor of sorts.
Ok, so...with my limited knowledge and zero experience, what are my pitfalls?
I understand the traps in buying land, period - but this seems a decent price. Was even considering offering him 300, since he's a stand up guy.
My head is STILL spinning from reading through threads here, digesting agency info. and Thai govt. docs. Can someone tell me in plain English?? (Does the Chanote titled land guarantee a legal sale in my wife's name)? Ok, there are no guarantees in life and even fewer in Thai property deals, but Chanote is as good as it gets in terms of your chances, right?
Thanks for any suggestions, urges to buy, urges to reconsider or otherwise.
All the best