Buying second hand property - offers, how much the right

[Baz2512]

As the house purchase price is a part of a market economy and currently the market is not strong.

When a vendor has a typical bungalow of 5,000,000 baht for sale.

What would be a realistic offer?

5% below?

10 % below?

15% below?

20% below?

or more

[Bristolian]

There is no definitive answer to you question. You need to do a lot of homework on asking prices and actual sales prices in the area and style of property that you are looking for.

Some sellers are over optimistic in their asking prices and some are more realistic. Some have time to sell and others need to sell quickly.

In my experience a seller will not be offended by offering up to 15% below the asking price but you should be prepared to negotiate from there.

[jingjoe]

if the seller is thai they will budge very little on price,then if not sold, next year put the price up 10%!!

No land tax(or very little) here so costs thais nothing to keep properties unsold.
if westerner,depends on how long they have had the house,a lot of brits would have purchased there places when the pound was high,if they are taking there money back to uk,probably still do ok.

[Arcadian]

I bought my property a few years ago when the rate was 65/£. If I sold now for the same price in bahts I presume there would be no capital gains tax to pay, or would there?

[Baz2512]

I bought my property a few years ago when the rate was 65/£. If I sold now for the same price in bahts I presume there would be no capital gains tax to pay, or would there?

Is there capital gains tax in Thailand or are you a UK tax subject

[Dannie Boy]

I bought my property a few years ago when the rate was 65/£. If I sold now for the same price in bahts I presume there would be no capital gains tax to pay, or would there?

By the sound of it there would be no gain to consider and in any case it depends on your tax residency status. If you are living in the UK then in theory you would be liable for CGT but if you have lived outside the UK for 5 tax years, you are not liable for CGT. In any case, if you sell in Thai baht and keep the money offshore, how would HMRC know about any potential gain?

[Takiap]

It's almost impossible to answer your question since there are so many variables. One example is the size of the land, and whether it's owned by Thai or Farang. Thais don't like dropping their prices, and even more so if the house is on a fairly big piece of ground since they tend to value the ground far more than they do the house. Thais also aren't interested in what the exchange rates are doing.....lol.

The thai woman who owns the piece of land next to us isn't even willing to drop her price by 100K, despite the fact that she would still be making a huge profit. She bought it about seven years ago for 250K and she now wants 2.5 million because that's what the going rate is now, and she simply won't budge.

We bought our for 465k and my wife has also previously said that if we were to sell, it would be 2.5 million for the land, and then the price of the house and etc on top of that.

I'm sure there are good deals to be had, but you'll have to do your homework.

[cookmanchef]

As Takiap says the key factor is the size of the land, land prices are rising fast but in reality the value of the structure on the land pretty much stays unchanged or can fall if the build quality is poor. If the house stands on a small plot find out how long it has been on the market and don't be afraid to offer 25% below if it has been there for over a year, they can only say no!