Selling a Judgement Debt in Phuket

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magsandbilly
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Selling a Judgement Debt in Phuket

Post by magsandbilly » Wed Nov 29, 2017 9:48 am

Hi All

Is there any company in Thailand that deals with the selling of Judgement Debt?

We have a judgement debt against Tamarind Hills, Layan, Phuket and as of the end of October 2017 we are due and amount of THB 31,386,430.30

We have units from the project going in to auction.

Our situation is that we are due to retire and are looking for funds now - not all of that amount above but would entertain any reasonable offer from someone willing to buy the judgement debt.

Any ideas, anyone, how we can find an investor to buy us out?

There are other buyers involved with this project elsewhere working with their own guy, So maybe inroads for an investor to pick up more of the units in the project and turn it into a great place.

Any advice would be appreciated.

magsandbilly
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Re: Selling a jusgement debt in Phuket

Post by magsandbilly » Wed Nov 29, 2017 9:50 am

Should read "Judgement Debt"

AJBangkok
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Re: Selling a Judgement Debt in Phuket

Post by AJBangkok » Fri Dec 01, 2017 9:48 am

I have a property just below Tamarind Hillis and I’ve driven up there to check out the mothballed building a couple of times as it’s a fantastic location. There is very little information on it on the internet. Will they be auctioning individual units or is there an option to keep the units?

I’m not sure what the original price was but Phuket is a buyers market and resale units in the few complexes around Layan ( excluding Laguna) sell now from between 45k and 60k per square meter depending on how desperate the seller is.

magsandbilly
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Re: Selling a Judgement Debt in Phuket

Post by magsandbilly » Sun Dec 03, 2017 2:13 pm

As I know the GSB(bank) has some units in auction now, we have our units going in on the next auction and I know of someone who is working with a group of buyers trying to find a buyer. Basically if there is an investor out there he could gain probably most of the units from judgement cases and make a good deal for themselves. Our problem is we don’t have contacts to investors and since we are retiring we are trying to find a buyer for our judgement debt so they can gain in the investment and maybe pick up more units along the way. I do believe one buyer is staying in their place.

It is a fantastic site with uninterrupted views- that’s what made us buy. Pity about the developer screwing it up for us. I hope there is someone out there who can see the great potential that is there.

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