pancakeman

My Thai wife owns a townhouse and was selling it.  A (Thai) buyer came along and said they needed 3 months to get the money together, but put down a 10% holding deposit, and signed a contract to buy (standard looking Thai property sales agreement).

So the property was taken off the market and deposit was put into my wife's bank account (plus sales agent took some of their commission).

Now 3 months on they buyer says they don't have the money "yet", and they want a 6 month extension to the agreement; and if we don't agree to the extension then they want their deposit back.

The contract clearly says that if the buyer does not complete the purchase before a certain date then the deposit is forfeit...I don't see why the deposit would be given back; this is the whole point of the contract and the deposit.

However according to the real estate agencies "lawyer", the buyer will probably take it to court (or police??) and because "It's a lot of money" and it "doesn't seem fair", because "what did we lose" then the judge would just ignore the contract and order the money given back (so some other weird agreement like give back some of the money).

My natural instinct would be that the lawyer is full of sh*t; but I have seen the bizarre nature of Thai legal disputes before...and it wouldn't surprise me that much if the situation did play out like that.

Opinions?

I'm currently working for a Thai company with work permit, visa, paying social security and income tax in Thailand.  I am located in Thailand.

If were to move outside of Thailand (to UK), but still working remotely as an employee of the Thai company; do I still need a work permit in Thailand?  Do i still need to pay social security tax and income tax in Thailand?

The auction was however dull as only a small number of potential bidders showed up

So is the auction in July, or has already occurred?

1) UFUN is doing a Joint Venture with Malaysia's No.1 Public Listed Company named Bina Puri, in Thailand. They are constructing the largest Resort in Bangkok which is scheduled to be completed by 2018. (Hope you know that Government Owned Companies won't do business with Mickey Mouse Companies)

Are you referring to this? http://bangkokmarinaresort.com/reservation

Which appears to be in Samutprakarn, so how is it even "In Bangkok"?

P.S. Anyone live down that area can take a look if there is actually any activity on that site?

Got windows from here: http://www.winmasterthai.com/

Very happy with them, can't hear a single soi dog through the double glazing.

BTW, a poster asked why these funds are not paid into a business a/c. The reason is because the business is registered as a Thai Sole Trader, but with me as the sole beneficiary of the business revenues. (Bit like renting out condos in your Thai wife's name). The Thai person pays tax as required on the business profits, I get to live at the hotel but don't work there, I get all the profits.... without the hassle of registering a Thai company, shareholders, work permit etc)

Can that Thai person kick me out? Of course, but I've been down that route before years ago and it's a non-starter.. Kick me out and the business grounds to a halt within days, (I hold all the passwords etc...)

Seems like Agoda is the least of your problems if you can't even trust the sole owner of the business to receive funds generated by the business.

IMHO Agoda are doing things correctly; why would the be paying into someones bank who has (on paper) nothing to do with the business?

Why would you be getting paid into your own personal account anyway?

Surely you should be receiving these payments into the business account?

A fool and his money.....

You mean 'many' fools and their money ?. As it stands at the moment (05/11/2014), since Friday last, my profit value has increased to US 202.91 cents. Of course tomorrow it could be zilch, but I'll stick with it meantime.

So you can withdrawal all your principle and profit today and you'd have $200 more than you started with?

I found this company name from the whois on "ufun.co.th" domain (บริษัท บิทคอยน์ จำกัด):

Looks like under investigation from DSI anti-pyramid scheme also:

http://www.manager.co.th/Crime/ViewNews.aspx?NewsID=9570000121202

There is a video, on the right hand side of the one I posted, it shows this company was cleared, and that they could carry on doing business.

The video was from March 2014. The DSI investigation article is from October 21 2014. How is it they are cleared in March for an investigation started in October?

I found this company name from the whois on "ufun.co.th" domain (บริษัท บิทคอยน์ จำกัด):

Looks like under investigation from DSI anti-pyramid scheme also:

http://www.manager.co.th/Crime/ViewNews.aspx?NewsID=9570000121202

Seeing as you have yet to provide even the company name from the receipt of your "investment", can we assume that either:

1) You have done no due diligence before "investing" and do not even know who you paid money to, and have not receipt of your payment?

or

2) You have never made any "investment" and you are just a shill and know full well that it is fraud.

I've asked for the registered name of the company, hopefully, I'll send it to you tonight.

So you actually paid money to a "company" without even knowing the name of the company? How does this even happen? Didn't you get a receipt?

Off Course, everything is in order. There are millions of Investors, in this venture, Thailand is a small part, compared with China, or India (nearly every Asian nation is involved, and the USA). So, if it does go wrong, I won't be the only one.

Can't you just read the company name off the receipt then?

I've asked for the registered name of the company, hopefully, I'll send it to you tonight.

So you actually paid money to a "company" without even knowing the name of the company? How does this even happen? Didn't you get a receipt?

and visiting the company headquarters in Bangkok

Please do tell where is this headquarters in Bangkok, and what is the registered name of this company?

Securities Commission Malaysia has a warning list of "List of unauthorised websites / investment products / companies / individuals"

Guess who made the list:

http://www.sc.com.my/list-of-unauthorised-websites-investment-products-companies-individuals/

ufun....nofun

Don't worry though; they have backing from a bank in Guinea (http://bdg-guinea.com 'chairman' of ufun is also the 'Directeur Generale' for this "bank")...

(P.S. The banks domain is registered to some guy from Nigeria)

Look even an upstanding citizen such as this general is getting in on the action...so now we can be sure there is no corruption involved:

Don't feed the troll...I mean damn, even his avatar is a troll

So some old bloke told you he was a Lord, and a war veteran, but now developing moobaans in Thailand. You then proceeded to hand over cash to him with no contract and without even so much as checking the market price of land in the area, or getting the name of his company (which apparently does not exist)?

Did you take a few bullets to your head during your service?

Would it be possible to take out multiple policies from different companies? For example if each insurance company offers only 100,000 you can 5 small insurance packages so that you get a total 500K flood insurance?

I've been looking at house insurance and all the plans I have found have a ridiculous 100,000THB flood damage limit.

This would just about cover a new splash of paint...no way it would cover build-in furniture, kitchen, wiring, landscaping etc...that would all be trashed in the event of a big flood.

Anyone know of any home insurance plans with proper flood coverage?

I just applied for a 1 year extension at Imperial Ladprao, but still have to go back to "hear result".

Think this will create any problem that the application and the result will be at different locations? (ie will they have not transferred by paperwork etc?)

So turned out they did lose all my documents * face palm * saw that coming. After 3 hours they managed to produce a couple of sheets of paper and stamped my passport...so i guess it's ok now

OP your assumptions are incorrect.

If you make an additional payment on your loan it will reduce the principle amount. The interest is then calculate on the new reduced principle amount as with any loan (I have used several Thai bank loans and they all work this way).

It's true that your monthly payments will not automatically be reduced; but your principle has been reduced so the total number of payments is reduced.

I didn't say they should have shot the smugglers. Firing into the water would have probably made them swim back.

Yeah because people generally tend to swim back towards where the bullets are coming from?

The van drivers here are ridiculous. Not sure if there already is; but there should be a specific license to drive a van and it should require a week training course on how to not drive like a prick.

Anyone noticed that there is now a new type of Pepsi on the selves, it looks almost the same as the regular bottle but if you look closely it says "Pepsi Vivo".

Be warned this stuff tastes like absolute <deleted>; I had a half a bottle left from a party and when I tasted it I though someone had already mixed some cheap rum into the bottle or something; dumped the bottle out and opened a new bottle but was pretty surprised when the new bottled tasted like crap too.

Does anyone actually like this stuff?