Price of land in Ubon Ratchathani city

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Price of land in Ubon Ratchathani city

Postby steelyeel » Fri Jul 24, 2009 2:22 pm

Hi Guys !
Need some help re. purchase ?? of land in Ubon City. I want my mind put at ease. With the insistence of my girlfriend's uncle I put a small deposit on a 1 ngaan, 1/4 Rai, 400m2 piece of din about 5 kms fom Big C . I pay the aunty 4000 a month to cover her bank loan interest. The plan was to buy outright at some future time. The land is very close to a new Tertiary Institution, still under construction, the development will be on 150 rai and has been built above a flood plain. Our din is below this, although local knowledge suggests there hasn't been major flooding in living memory but things happen. I look at the rise and fall of the mighty Mekong during the seasons.
The price was 400,000 which I now strongly question. We're talking on the outskirts, no water,electricity, needs levelling and a small hut removed. Access is down a rough track and lots of shacks on one side.
The uncle assured the girlfriend and I that this would be a good investment because of proximity to college but I think I've been taken to the cleaners and the uncle has probably pocketed at least 200,000.
Anyway I now hear of land same distance from Big C, which is a good reference point, semi-rural for 150,000 for 2 rai.
It makes me very angry to think that the family is ripping me off. So I've lost 50,000 through deposit and payments. I know I'm not Robinson Crusoe in this regard so common sense finally kicked in and I've stopped payments. Live and learn especially here.
Sorry to bore you with the details but would appreciate some info re. land prices in Ubon and for someone to tell me that yes I was ripped off so I can give the uncle a wide berth from now on. The receipt of sale is worthless because seller and buyer were in cahoots obviously.
Time to knock back a cold one or three ???? Cheers
steelyeel
 
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Re: Price of land in Ubon Ratchathani city

Postby thaifly » Sat Jul 25, 2009 11:11 am

[quote="steelyeel"
It makes me very angry to think that the family is ripping me off. So I've lost 50,000 through deposit and payments.
Time to knock back a cold one or three ???? [/quote]
its a gidday to steely...its the thai fly from mae rim...cobber..unable to help with your land prices etc etc.. i am sure a member on the board will come to your assistance..but matey if the thaifly reads it correctly if your total losses amount to 50.000 baht...put it down to inexperience...from reading your very honest post..the red flags were out very early in the peice..and wheeling and dealing with family prick relations..is going to WHERE ANGELS FEAR TO TREAD....in most cases that is.....so steely pull yourself together ...go and have that drink...and put it behind you ...my advice to any one.. when buying land have your brain on red alert...engage a good lawyer to do a conveycing search..etc etc...during my course of searching for our peice of land which took two years of our time..we ran into scam after scam...con after con...hell what a nite mare.. be very pleased that you get away from this mess pronto..be very interested on how you get on..a very interestin post.... its a US AUSSIES ARE A TOUGH BREED..GIDDAY TO ALL...its the thai fly from mae rim
thaifly
 
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Re: Price of land in Ubon Ratchathani city

Postby jazzman » Sat Jul 25, 2009 2:34 pm

steelyeel wrote:The price was 400,000 which I now strongly question. We're talking on the outskirts, no water,electricity, needs levelling and a small hut removed. Access is down a rough track and lots of shacks on one side.
The uncle assured the girlfriend and I that this would be a good investment because of proximity to college but I think I've been taken to the cleaners and the uncle has probably pocketed at least 200,000.

The price of 400,000 is exceptionally excessive. IHMO even 200,000 may be on the high side, especially when compared with prices of land in high development areas close to Carrefour and the airport on the ring road of Udon Thani, a major Thai city.
jazzman
 
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