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Saturday, 3 September 2011

Real Estate Valuations in Thailand for Overseas Courts

Whilst recognised in most countries throughout the world The Royal Institution of Chartered Surveyors has not yet been accredited in Thailand. Equally Thai Valuers are not accredited in many countries overseas. This creates an issue for anyone requiring a formal valuation from a qualified valuer of property in Thailand to be used for official purposes, usually in the Courts, overseas.


As a Chartered Surveyor with 40 years of international real estate experience, the majority of overseas Courts will accept a Valuation Report prepared and signed by me. Different countries have different requirements and much depends on the purpose of the valuation. Sadly many valuations I have carried out are for divorce matters. In the UK there are specific rules with regard to such valuations and they must comply with Part 35 of the Civil Procedures Rules. In Australia the report must be accompanied by an Affidavit witnessed by a Notary.


All formal valuation work is carried out in accordance with the International Valuation Standards Committee of the Royal Institution of Chartered Surveyors. A formal valuation report will usually consist of a Valuation Certificate, a full Valuation Report accompanied by location plans, photographs, copies of land titles and copies of my Professional Diplomas. Before accepting valuation instructions I will determine the purpose of the valuation and where it is to be used. I will then issue a Letter of Instruction to be signed and returned to me. I will then make arrangements to inspect the property and obtain all relevant documentation. Provided I
have been given all necessary paperwork to complete the valuation, the final report will be available seven days after the inspection.
Please contact me for further information at hbonning@kosamuiproperties.com


The real estate market is slowly gaining pace but as reported previously mainly in the lower ranges. We have been receiving more serious enquiries recently than for a long time and interest has moved up into the 10-15 million range whereas previously it was almost exclusively under 10 million. However, before everyone starts putting their prices up, the only properties selling in that range are those that have already been discounted. What is also noticeable is that with so many agents having disappeared over the last year or so, there are signs of one or two coming back, unfortunately with little real estate experience. So just be careful who you are dealing with

For the full version of this Newsletter which also includes all new property listings, price reductions and local news, please email me at hbonning@kosamuipropertie.com

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