Do property auctions in Thailand exist?

Hi. Yes they exists and they take place separately in each province. They take place once a week in the same building. Their are website to help you see the availability. Rarely, a neighboring province will go to have a select group of properties auctioned in the nearby province. I have tried what you are doing and it’s not easy and it is not as you expect. On the led.go.th website you will see the listings, you will see that they get auctioned 4 times. Each time the auction threshold is lowered in a percentage increment. There are roughly 100 properties up each week from 400 or so. The insiders have many things going on that only thai can understand. For example, you won’t know until the day before if the available property is to be auctioned the following day, even though the listing says it’s scheduled, unless you have access to a special report. There are teams of people who buy the land together by paying the base amount at auction. For example the full price must be paid for the winning bid with 60 days. But by visiting the bank an and for an additional small fee, it can be extended another 30 days. At the time of winning the auction, a small percent of the price is collected. If you don’t pay the balance later. It’s auctioned again. There are also bank reps at the Auction getting properties skipped over, or held by the bank it’s all paper, no digital. It’s a nightmare. Thai people are friendly and safe. Go to the auction and test it out. There will be a group of Thais there who help people buy back their lands by securing the deposit and getting them more time. They also by the land and then try to resale them in the 90 days for a slightly higher price to profit. There are all kinds of doggy things going on. Often people don’t know their empty land got a lien on it from a relatives unpaid car payment. It’s super confusing stuff and the perfect spot you want to win, may actually jus the in the auction and never be called to bid. Even for years. I have heard of lawyers playing all kinds of tricks to hold properties without paying the full balance. It’s one of these things you need to slowly test drive and win your bid. Then be able to pay the full balance in 90 days.

Good luck. I wish I could be of more help.

Gatsby

Really appreciate you taking the time to reply Gatsby- All was very useful and also some confirmation around it not being an easy investment nor process.

I have recently moved to Krabi with my girlfriend and therefore thought it would be a nice place to start although it seems that property isn't the easiest to find here, especially the smaller properties or properties that are run down and need some TLC.

I have looked on the LED website but can't seem to find their advertised properties or anything around the subject of foreclosure or Auctions...any help? (Thanks in advance again!)

A long shot...but you don't happen to know of any auctions or helpful contacts in Krabi do you? I am lucky to have a helping hand as my girlfriend is from Krabi so will start by speaking to family members and take it from there.

Thanks again Gatsby.

Not too much info on auctions as noted Thailand is heavy on paperwork....so networking at your local amphur is a good place to start. That said, a new piece of land just came available in Krabi here.. https://www.remax.co.th/en-th/listings/ … tingWords=

Hi !
Ok let me see if I sent the link correctly.
The advice I have learned over time, is that the real estate agents suck, there is no integrity on their sites and they just use click bait to lure you in. None of them have to pass a test or post accurate listings. It’s a mess and all lies. I found that even remax is a failure here. It’s not the same as the remax we are accustomed to nor is there a care for the terrible name affiliation.   I will try again with the link later. It’s not easy to navigate that site without getting your gf to go link by link. One of them takes you to another platform. On that platform the drop down boxes start with province, etc etc. I will recap later when I get in touch with someone who can give me the direct link. You’ll even see at least one picture for each listing and they sheets will looks like actual listings. 
For now... And this is what I only do now, though the auction route is interesting, which I have obtained a single property in auction last year, is to go the alternate route. No agent, and get out there and find the perfect spot by yourselves. At dusk or dawn go looking. What I suggest is, you pick the area you like, drive up and down each and every street looking for the “for sale“ signs. Even when you are not sure, just holler at the neighbors. I’ve been given contacts of people wishing to sell, just by looking at them too long, and the neighbors wishing to help the foreigner out. Lol. Getting an agent, is a waste of time. They won’t be able to find you a single steal of a deal. Never. Mortgages here are backwards. First you find the property, then you get approved from the bank. They also don’t approve first mortgages for vacant land. They also check income coming in from where in the gf or co signers back account for the past 6 months and total they have. You can fudge anything here with a lawyer. You got to play with it, and not be worried about a thing. Get the whole family involved. Get the 20% down ready and all their names with the local brokerage company on the land you want. Get the lawyer to give you documentation the way the brokerage asks.  The whole system here is in desperate need of a revamp. There is no integrity at all. Pay to play. I will be back with that link direct, later.
Gatsby

Hello everyone,

I hope you are all doing fine.

We had to remove several posts from this topic.

It's ok to have different point of views but, please, do not insult each others, it brings nothing more to the debate.

I'm sure we can have a healthy debate about this situation, so please stay courteous to one another.

Thank you very much.

Regards.

Loïc
expat.com Team

Hello,

Blessings and Thank you for any advice you can offer.

The home I'm living in may go to auction (our landlord has to clear their debts and is being sued) The government bank is holding this home as collateral until said debts or law suit has been closed.

we would like to buy the home should it get posted to auction, any advice?

We have our lawyer asking the government agent about details.

We can have the 20% ready w our lawyer at auction.

Any other advice on how to mitigate losing the house at auction?

Hi,

You can first check with the bank directly to see if they list the property in auction inside the bank itself. The current owner will have the priority on finding a way to keep the house. In a second time, the bank can also release the property with the auction department.

Check the debts that the property has. In some case, the new owner has to pay for it (such as late payment taxes ; common fee etc.) ; sometimes it's already covered by the organization that manage the sell

Also, the person that will put the deposit, has to be the same person for the new owner's registration at the land department office

Best regards

****