EXCLUSIVE: One company is helping Thailand property owners to sell their condos within just 48 hours.
In its social media marketing the company says it can offer 50 percent of market value to owners who need to obtain a quick sale.
Luke Murray, Managing Director of BTSPropertyGroup, told ThailandPropertyNews that his Thailand Cash for Condo business has been working with investors and purchasing distressed sales condos for more than 10 years.
“We have just started marketing this as a service recently,” Murray said.
“The motivation behind this business is to provide a service for Thailand property owners looking to get cash for their condos with a no hassle service.”
“We saw an opportunity. There was no specific service that Thailand property owners could use to sell their condo within a very short time frame.”
Murray added that his target customer for this business is anyone with a distressed or under-market home who wishes to sell as quickly as possible for a cash payment.
He added: “Generally this service focuses on already-transferred units, but we are potentially open for off-plan condo units too.”
Where an owner purchased their Thailand condo more than five years ago, there is a very good chance they will not suffer and real loss compared with their purchase price.
Most areas of Thailand have seen property price growth during that time.
However, where the purchase has been made recently there’s the very real chance the owner will lose money by wanting to obtain a very quick sale.
These types of business models are common in other parts of the world, and especially in markets where sales are both slow and difficult.
They are also popular with overseas buyers who, for a number of reasons, may wish to exit their property investment quickly and at almost any cost.
The success, or otherwise, of these types of businesses could be seen as an indicator of the strength of the property market where it operates.
The fact that Thailand is now seeing the first of these kinds of businesses could be an indicator of market strength, or that buyers have changed their minds and need a quick exit route at any cost.
Murray concluded: “Our service is aimed at owners who need to sell their homes quite quickly, not so much about the strength of the property market.”
“They would, most likely, still be able to sell their homes within a reasonable amount of time in this market, but our service allows them to get cash immediately when waiting is simply not an option.”