Here is the abbreviated story behind this, my wife and I came to Thailand 3 years ago and bought a lovely big house on a new development 8 Km west of Hua Hin. Unfortunately when the house was 90% complete the developer went on holiday and has never returned.
To cut a very long story short, we went to court last year and the judge ruled in our favour. They subsequently ordered all the land (over 12.5 rai) and "our" house to be auctioned.
After waiting for a year, the auction has suddenly been scheduled for, Tuesday 31st May 2011 at the Execution Office Prachuap Khirikhan.
We are very concerned that it has not been advertised, and therefore may not reach the necessary amount to enable us to be reimbursed in full. We are therefore trying to notify as many friends and acquaintances as possible, in the hope that they might pick up a bargain and we can also be repaid from the auction proceeds.
Our understanding is that the entire lot, i.e. over 12.5 rai of land plus house, may be sold if the bidding reaches 80% of the valuation. The court valuation is 10.2 million THB, so in theory this may sell for just 8.3 million THB
The land has been land filled and has power and water, the house (240 sqm) is set in a beautiful 1256 sqm corner plot with 12 metre pool and swim up pool bar. There is a separate garden sala and carport. There is also a separate security house included in the auction.
It was interesting to read the other thread about developments taking place out the Pala-u road, so here is the perfect opportunity to get in early before the prices really take off!
Please feel free to pm me if you require any further details, I'll obviously try and help. I'll maybe try and attach some photos but I'll need to study how to do that first!
View from garden looking back to the house
Anyway when we first went to court they (the court) ruled that the company were in breach of contract and should refund all our money plus interest and expenses. The company did not do that, hence the reason for going back to court and getting the judgement to seize their assets and sell them at auction to enable us (hopefully) to be reimbursed from the proceeds.
I don't want to read on here in a few years time, "Bloody hell I remember I had the chance to buy for "X" and look at the value now"