TotallyOz Posted January 21, 2010 Posted January 21, 2010 I have a condo I am looking at in LOS. The owner is totally 100 percent unwilling to negotiate on the asking price at all. It is a very nice condo but I thought all things in LOS were negotiable. I offered longer lease, easier agreements, and many things that would benefit him. No to all. No negotiation at all. Quote
Guest jomtien Posted January 21, 2010 Posted January 21, 2010 Well, the expression "Fuck 'Em, I'll look elsewhere" comes to mind....... Quote
Guest Posted January 21, 2010 Posted January 21, 2010 No negotiation at all. If the price is not acceptable to you AND competitive, just go elsewhere. Also, if you are not prepared to do that, the vendor has correctly assessed his position. Quote
Guest HeyGay Posted January 22, 2010 Posted January 22, 2010 . When it comes to Property the Thais or shall I say mostly the Thai/Chinese seem to be only interested in what ever they have made there mind up about, when I was looking for the wonderful Villa I live in, it took 3 months to convince the owners to rent, up in Bangkok, I must have looked at least 200 fabulous houses that had been left empty for years many, some Mansions, no way would the owners ever think of renting, till a buyer is found, may be its better to find some one who will pay the going price they want than negotiate, if its an area where there is a good turn over of potential customers in your case. try buying it by putting down a deposit and pay for it monthly, you never know you may get very good terms I did when I bought a houseon the waterway in Ft lauderdale in the 70s even thought I sold it at a loss, wow its worth millions now lol Quote
mahjongguy Posted January 22, 2010 Posted January 22, 2010 In the 5 years that I've lived here I have observed that there is an amazing amount of real estate that is unoccupied, even during prosperous times. At first I thought this presented a terrific opportunity to buy something desireable at a great price, but that turned out not to be true at all. My explanation: - The wealthy Thai/Chinese families, like Chinese everywhere, borrow money from within the family to purchase real estate, for long terms and for little or no interest. - The lack of a significant property tax takes away the motivation to even rent out the property. So, they have no incentive to sell at all, and certainly not at a discount. If it were possible to have a modest and fairly administered property tax, there would be a much healthier real estate market. Turnover and utilization would be much greater and "market price" would have true meaning. But, when pigs fly... Quote
Up2u Posted January 22, 2010 Posted January 22, 2010 In the 5 years that I've lived here I have observed that there is an amazing amount of real estate that is unoccupied, even during prosperous times. At first I thought this presented a terrific opportunity to buy something desireable at a great price, but that turned out not to be true at all. My explanation: - The wealthy Thai/Chinese families, like Chinese everywhere, borrow money from within the family to purchase real estate, for long terms and for little or no interest. - The lack of a significant property tax takes away the motivation to even rent out the property. So, they have no incentive to sell at all, and certainly not at a discount. If it were possible to have a modest and fairly administered property tax, there would be a much healthier real estate market. Turnover and utilization would be much greater and "market price" would have true meaning. But, when pigs fly... I think your observations are right on the mark. If lucky, one might find a farang needing to repatriate and willing to negotiate. Hey, GT, I've got a condo for sale at Jomtien and I'm willing to negotiate!! Quote
2lz2p Posted January 23, 2010 Posted January 23, 2010 After having observed some houses "for rent" in my housing village for several months, I mentioned it to my farang leasing agent. My opinion was if it wasn't being rented, the rental rate was probably too high - so, I asked him why they didn't just lower the rent and collect less money than they wanted, but that would be better than no money leaving the house vacant for months. His comment was that most Thai owners will not come off their asking price as a matter of face - they tell their family and friends they have a house for rent at X price. So, to them it is better to let it sit empty than lose face by accepting less. I don't know if that is correct, but knowing how other things seem to work in Thailand, it could be an accurate assessment. The houses that I had noticed some 2 to 3 years ago - one was rented about 2 months ago and the other is still empty. That being said, when I rented my current place, my bf talked the Thai owner into taking about 5,000 less a month on the basis that we would lease for 2 years instead of one - after the first 2 years, the Thai owner did not renew her agreement with the farang agent - so I dealt direct with her for continuing the lease - also met her husband who is a farang from Australia - which might explain her being willing to negotiate when we first leased the place. Quote
Guest fountainhall Posted January 23, 2010 Posted January 23, 2010 I echo the comments made about owners having their own ideas of price and then sticking to them. When I was looking for a condo to buy in the late 1990's, even though there were many thousands available in Bangkok, few owners were prepared to lower their price in order to sell, Many converted their condos to serviced apartments in the hope they could sell once the price had risen. The owner of the one I purchased did throw in a number of extras to try and seal a deal, but these amounted to less than 1% of the total price. Quote
PattayaMale Posted January 23, 2010 Posted January 23, 2010 I have bought 3 properties in Pattaya. The price was the price. In a condo they did buy a new aircon. If you think it is a good buy, buy it. With all the property in Thailand for sale I am sure you will find one right for you. Quote
Gaybutton Posted January 23, 2010 Posted January 23, 2010 most Thai owners will not come off their asking price as a matter of face I wonder how much face they think they're saving by sitting on a vacant property that is generating no income. But that seems to be the case. They won't budge on prices. That's precisely what happened at Bruno's according to what I was told. Bruno's is a high quality restaurant in Pattaya. For years they were located in a building in north Pattaya, near the north Pattaya Big-C. The story I heard was after all those years, suddenly the owner wanted to jack up the rental price outrageously. Bruno's explained to him that it would be cheaper for them to build their own restaurant rather than pay that amount. The owner refused to budge and Bruno's did exactly that, built their own restaurant in Jomtien. From what I understand, that original building remained vacant for years. For all I know it might still be vacant. Quote
Guest Posted January 24, 2010 Posted January 24, 2010 Well, I started to transfer the money the day I made the post and then I got an e-mail from Realtor. The full deposit was paid by someone else hours before for the asking price. Lesson learned. Quote
Guest lvdkeyes Posted January 24, 2010 Posted January 24, 2010 Just remember that things happen as they are supposed to happen. It wasn't meant to be. Quote
