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banagan

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Posts posted by banagan

  1. 8 minutes ago, Lampang2 said:

    temporarily locked up.
    The wai is tomorrow, then case closed.

    Motorcycle taxis and their organization is the exact same people as the police.

     

     

    I really hope this is not the case. This guy needs to do time, 2 - 3 years. And have his taxi license stripped for life of course.

     

    The law says up to 5 years in jail, https://bit.ly/3koQG7L

     

    Really vicious assault, kicking someone in the head multiple times when they're on the ground can easily kill.

     

     

     

     

     

     

     

  2. 11 hours ago, bristolgeoff said:

    Look at cambodia down south,it was lovely until the government sold out to the chinese.now high rise casino and only chinese.Before 8 public beaches lovely place to stay.all the farangs moved out  to other places .I think even the khmer people  unless they work there are losing out too

     

    They're very loosing out. Good doc on YouTube about it, easy to find.

     

    Glad I god to see the place before it was eaten up by the Chinese.

     

    If tourist parts of Chiang Mai are anything to go by, Phucket is ******

    • Like 1
  3. 38 minutes ago, blackcab said:

    If you have an "air tight" contract, it will still have to be taken to the Civil Court if the seller or his successors do not perform. In Thailand there is no concept of precedence, so each case can be appealed as far as the Supreme Court if either the plaintiff or the defendant choose to do so. In such cases the outcome could take up to 10 years.

     

    A legally sound contract is an excellent thing, but in Thailand exactly what are you going to do if someone simply ignores your legally sound contract? The police and the Land Office will do nothing, because it is a civil matter. You will have to go to Court to get a judgement, and then to 1 or 2 more Courts, each of which may give a different judgement altogether.

     

    Finally, when you have completed this process, you would have to have the judgement executed. At which point you may then find out that the condo unit has been sold and resold, and as such you have no claim to it, despite have spent hundreds of thousands or even millions of baht in legal and Court fees.

     

    Please do not misunderstand me. I am not impugning the seller. There are very many honourable sellers out there, and they have decent and honourable families who would do the right thing if the seller died during the 3 year contract.

     

    If you ask me if I would do the above deal myself, I would have to say no. For me the deal would contain too much risk. On the other hand, your risk appetite may well be different than mine. Nothing wrong with that at all, as long as you know the facts before you do the deal.

    Thanks, appreciate the feedback.

  4. 33 minutes ago, blackcab said:

    Yes, to an extent. However you do not gain ownership of the property until the title deed is in your name.

     

    For example, what happens if the owner dies before the final payment is made when the title is transferred into your name? It could get very messy indeed.

     

    The point to consider is that to enforce the terms of a contract, you must go to Court. In Thailand that is a very long and expensive process that will cost you a substantial amount of money, with no guarantee of receiving anything at the end of the process.

     

    A four month contract is one type of risk. A 3 year contract is another thing entirely.

    I hear what you're saying, valid points. I wouldn't proceed unless the contract was pretty air tight, but yes, there is a measure of risk involved.

     

    • Like 1
  5. 10 minutes ago, blackcab said:

     

    You do realise that if you do this, you will not receive the title deed until the final payment is made. In other words, the property will not be transferred to your name until you have fully paid for it. Your payments will not be secured on the property and they will be made at your own risk. This means that if the developer goes into administration, you will probably lose all payments you have made and you will definitely not own the condo unit either.

     

    One of the reasons for this is that nearly all new condos are built with bank finance and as such the first mortgagor needs to approve any further debt that is secured against the title deed. I guarantee you the mortgagor will not approve this.

     

    Personally I would keep it super simple: Agree a price you are happy with, or walk away. Deals like the above place you at risk at what is an unpredictable time.

    It's not a new condo or development.

     

    I bought from the same owner already and paid in installments over 4 months. The property agent I used prepared all documents we both signed, stating the terms. 

     

    Wouldn't a legal document like this not protect both parties?



     

  6. On the other side of the coin, condo prices have either gone up or stayed they same, while rents have dropped. Do they not teach economics in school here?

     

    Anyway, I'm interested in a small condo, investment property. Their asking price is the same it was last year, which was still overpriced considering the drop in rents.

     

    I'm aware of the whole face thing, it's dumb, so I'll need to sort of hint at a fair price and inception them, maybe remind them about the current pandemic?

     

    If stupid face persists, then I was thinking of offering 50% lump sum and the rest paid off over 36 months, 0% interest. I could eat that.

     

     

     

     

     

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