Thread: Where to get foreclosures?

Hi all,

I am interested in investing some money in property, especially in foreclosures. Now my question: how easily are foreclosures available? And which locations are good to invest in?

Any information will be appreciated

The banks will tell you what they have on their books and the locations. No doubt there are bargains around if you have a good look.

If you only want it for investment take care there are many pitfalls for the unwary.

I would consult an english speaking lawyer first.

Where do you want which area? I would suggest looking only at land which usuall is owned by Thais and they borrow money on the land and can't pay back

Thai property is illiquid, Bangkok is probably the only place that is even approaching a mature secondary market. If you are non-resident and still want to invest in Thai property, by far your best location is the SET. No legal issues, you can actually sell your shares- and you are probably buying into a land bank and development stream at no great premium to what you could achieve yourself, more likely a discount.

Due to Thai bank dubious accounting principles, foreclosures are not necessarily a bargain- in fact they can be priced well over market. I'm told there are buys to be had, but they require a fair amount of sorting.

Originally Posted by Andy2012

Hi all,

I am interested in investing some money in property, especially in foreclosures. Now my question: how easily are foreclosures available? And which locations are good to invest in?

Any information will be appreciated

Have a look around Chong Mek on the Laos/Thai i have heard theres a lot of investment up there,

Have a look at this in Chiang Mai
Price is 1.45M and looks like a bargain but I don't know the neighbourhood.
In that area the rent should give you 8% ROI


http://homeinchiangmai.shutterfly.com/pictures/58

The problem with foreclosures is this. Nothing is centralized. Let's say that I want to look at foreclosures with Bangkok Bank. Sounds easy, but it ain't.

A person has to go to each and every Bangkok Bank to find the foreclosures.

My suggestion is to start in in area that you like and begin to visit the banks. Then be prepared to hear that they are not in charge of foreclosures only the main branch. TIT...

You will never get the best deals unless you donate a brown envelope to the bank manager (I was asked straight out by a manager for half mil)
When the bank takes back the property the manager (and his family/friends) have first dabs then if no takes it gets passed down to the assistant manager etc.
As an outsider, dream on

I used to see books with properties sold through Bangkok Bank. You should take a look in one of the branches and ask for the books that come out regularly. They usually have them somewhere where the public can pick them up easily.

: : : Krungsri Property : : : (Re-possessed properties of Krungsri Bank)

Originally Posted by Albert Shagnastier

: : : Krungsri Property : : : (Re-possessed properties of Krungsri Bank)

Do you think they would take a reduced offer on an asset, or is the price you see the price you pay?