Selling rural property

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willyhilly
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Selling rural property

Post by willyhilly » Sat Dec 21, 2019 8:06 am

The missus has finally decided to evict the scheming family from her house and sell it. She has an offer from a neighbour but who knows what the real value is.
It’s on the bank of the Bassac River and about a thousand square metres of land. Do Khmers advertise on Facebook? In Australia value is established by recent sales and information is accessible online. How does one establish value in Cambodia?
Any thoughts appreciated.
BR549
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Re: Selling rural property

Post by BR549 » Sat Dec 21, 2019 8:29 am

This is a very good question.
I was talking to my wife about selling her rice land in Kampong Cham and buying a piece of land around Siem Reap to put a house.
I am back in USA right now closing one deal and working on another to sell old land to use for my retirement. I have many tools to find recent purchases..etc..
I lived in Sihanoukville and watched the land prices skyrocket and then saw Kampot go up ..
I think you need to go there and ask around.
Khmer people are so worried they will sell too cheap.these days.
Make sure you get fair market value.
I hope you have the proper title.
I spent 6 months years ago trying to explain soft title..hard title ...and now there is GPS...
My wife's dad's house and lot is in decay..neighbors are running pipes off their roofs into the yard..raising their ground level...and even moved a path from the land next to hers over to her land eating up some of the rice field...BECAUSE? She and her brother don't live in Kampong Cham.
I think you are doing the right thing.
Good luck..
I look forward to posts concerning this process.
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Duncan
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Re: Selling rural property

Post by Duncan » Sat Dec 21, 2019 8:50 am

The best way to find out the value,,, or what buyers are prepared to pay is,,,, present yourself as a buyer . Start by asking Real estate Agents if they have any land for sale in that area as you would like to buy and have cash.
Spoiler:
Don't worry it's quite normal and OK to lie in the real-estate business
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: Selling rural property

Post by Username Taken » Sat Dec 21, 2019 9:03 am

willyhilly wrote:
Sat Dec 21, 2019 8:06 am
Do Khmers advertise on Facebook?
Any thoughts appreciated.
Khmer24 is the place to buy/sell property.

https://www.khmer24.com/en/property
... give 'em a quick, short, sharp shock ...

https://BooksAboutCambodia.com
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atst
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Re: Selling rural property

Post by atst » Sat Dec 21, 2019 9:22 am

Market price comes down to what you are willing to accept and what the buyer is willing to pay
I'm standing up, so I must be straight
What's a poor man do when the blues keep following him around.
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phuketrichard
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Re: Selling rural property

Post by phuketrichard » Sat Dec 21, 2019 9:30 am

Having recently sold some land and will be looking at buying more in a different area ( plus the gf aunt buys and sells land), i have found it all depends on what the buyer is willing to pay and what the seller wants and come to middle ground.
Many khmers value their land what the land "next door" sold for

If your lucky enough to sell to a Chinese, you will find they pay overpay if they like it :-)
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
AzalKH
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Re: Selling rural property

Post by AzalKH » Sat Dec 21, 2019 9:33 am

Duncan wrote:
Sat Dec 21, 2019 8:50 am
The best way to find out the value,,, or what buyers are prepared to pay is,,,, present yourself as a buyer . Start by asking Real estate Agents if they have any land for sale in that area as you would like to buy and have cash.
Spoiler:
Don't worry it's quite normal and OK to lie in the real-estate business
Basically this, minus the real estate agents. My in-laws have an amount of land in Kampong Speu, a couple of times a year they'll go around the general area and enquire with village chiefs about any properties up for sale. The village chief is usually helpful and more than happy to point you in the direction of any properties (as they'll often get a small comission if there's a sale) and will often have an idea of what price the seller has in mind, saving you a trip to talk to the seller.
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atst
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Re: Selling rural property

Post by atst » Sat Dec 21, 2019 9:36 am

Agree also if you're a Barang the asking price will be higher just offer a fifth of what they ask and negotiate from there
I'm standing up, so I must be straight
What's a poor man do when the blues keep following him around.
monomial
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Re: Selling rural property

Post by monomial » Sun Dec 22, 2019 4:09 pm

atst wrote:
Sat Dec 21, 2019 9:36 am
Agree also if you're a Barang the asking price will be higher just offer a fifth of what they ask and negotiate from there
I agree this is very common, but not always.

Being a barang can sometimes play in your favor. Villages can be funny places. It is not uncommon for there to be rivalries and bad blood between neigbors, and a seller may not want to allow another Khmer to get an advantage by buying the property, or may simply distrust their motives. As a barang, you might be seen as more neutral and a safer option. This sometimes means you can even get it even cheaper than they will sell to a Khmer.

Many Khmers especially hate selling to another Khmer who has inside information, only to find out they flipped the property a few months later for a lot more money because some new infrastructure nearby was announced. Then they feel cheated. This can create a mistrust between Khmers that it is assumed you, as a barang, are not involved in.

The worst price is always given to the Chinese, of course.
epidemiks
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Re: Selling rural property

Post by epidemiks » Mon Dec 23, 2019 1:11 pm


willyhilly wrote:The missus has finally decided to evict the scheming family from her house and sell it. She has an offer from a neighbour but who knows what the real value is.
It’s on the bank of the Bassac River and about a thousand square metres of land. Do Khmers advertise on Facebook? In Australia value is established by recent sales and information is accessible online. How does one establish value in Cambodia?
Any thoughts appreciated.
What village/district? Which side of the river? What kind of title?

Was looking at land down between Saang and Koh Thom a few months ago. Anywhere from $5/m² to infinity, depending on the location.

Try searching the area on Khmer24 to see where the neighbour's offer sits in the mix.
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