thaiwanderer

http://www.nationmultimedia.com/2007/06/18...on_30037131.php

from 2007 as an example only - are MPs going to support taxing themselves?

Also, an important question is: Why are the Condominium prices so low when the Baht is stronger than ever.

Because the baht is strong the price of property is more expensive to any ferang /overseas buyer - surely you understand that. Ok an idiots guide: if a condo was say 2 million baht and the Uk pound for eg. was at a previous level of aprrox 67 baht, then that condo would cost approx 30k - at the moment it would cost 40k

exchange rates over time are not the only variables

Does it mean that the owner of a condominimum unit has to pay property tax every year after the introduction of property tax?

the extent (and vagueness) of the proposals are contained in the quoted article

So let me get this right, the Cows ate Grass & because of that, the Royal Astrologer predicted a bumper Year for Crops & Water ??

Or was it the Sesame Seeds than swang the Astroger to this way of thinking ??

respect?

What a farce. Murderers get bail and skip town, but now are they going to lock up without bail every person that has a tablet of ya bah? Doubt it as this would seriously cut into the income of some of Phuket's finest.

A murder is one life, drugs destroy many many more. Sure murder is not okay but you cant stop the rich n powerful from being protected. Its unlikely that you or me or our children will be murdered however there is a strong chance that our kids will be exposed to hard drugs at some stage and yes it all starts with just one little tablet ,no harm hey just experimenting right......

understand what point you are trying to get at but murder does not just affect the victim

"Police alone might not be able to control the situation. We need military and civilians to help take care of security matters," he said.

involving civilians is the worst thing you can do

if anything negative happens i will eat my hat (though I have been forced to dine on my hat in the past)

well all land in Thailand is theoretically owned by the Thai people collectively and way back when each (male) citizen had a notional amount of land - but not georgism not least because not equal 'ownership' (bigger / smaller depending on status)

as to the story its the usual spouting of an empty vessel

of course likely the farangs set it up to maintain own control at the outset - perhaps didn't consider they might fall out themselves - shame their only concern was bending property laws rather than considering practicalities

it can all be resolved but OP's friend will be raising a flag about the true nature of the company

appeal to the rule of law when its convenient - ignore it when its not

good luck

did Peter Scharmach ever return i wonder?

http://www.thaivisa.com/forum/Zealander-Ar...es-t229863.html

This is not even a Gazette story! Pagallim simply copy/pasted the so-called "gazette story" into the forum without even noticing that the story came from thephuketinsider.com – not from any Gazette reporters. The gazette very clearly indicates that fact on their Website.

As a close observer of the Phuket property market I looked back on past issues of PG and found Lersuang has not run any ads in the phuket gazette for at least the past 7 or 8 months, so it's silly to suggest that the gazette is trying to stall for time to protect an "advertiser". It's equally silly to suggest that all Thai newspapers lack objectivity when it's precisely objectivity that the gazette is seeking to achieve by balancing the Daily Mirror story. The gazette merely wishes to get comments from the developer. That's basic fairness.

I look forward to the gazette's special report due next week.

PG published the story, credited bill barnett (who is a 'guest columnist' or whatever) and added to it

they have got comment from lersuang but need a week to work on a special report (for 'balance and objectivity')- so why bother with a stalling piece?

its not like PG have never had a relationship with lersuang or that PG has an interest in defending the property market in phuket generally

were there not problems for this developer before recent world economic issues?

think to late to edit and add to that? anyhow see joe's 'patter' for his investment

http://www.thaivisa.com/forum/English-Foot...ua-t130824.html

were there not problems for this developer before recent world economic issues?

473geo:

......protect from this by having 'own' name on chanote (or rather a name that is legitimate and effectively controlled by you as far as is possible - see above, no 100% certainties in life)

a thai wife might have farang husband's interests at heart so net effect the same but.........

bojo:

problems for this as my thread above

potential spanners

voidability of loan between farang and wife

land office declaration of no interest by farang

land office discretion whether to register the loan

land office discretion whether to register any other interest (lease, usufruct etc.) to the farang (by which time of course monies spent)

key spanner

as long as the thai wife is involved, the stronger the farang secures his interest the more reason the thai wife may want the farang out of the way

none of this is a problem if love rules for both forever but given OP's sentiments possible he may succumb to other's charms

if love rules (or your willing to let her have it all if break up) best way for farang to enjoy property is just to put it in thai girlfriend/wife's name (but this is 100% a gift and for some reason appears not favoured by farang loverboys)

securing a farang's interests in thai property is another matter entirely and should never involve thai wife, girlfriend or friend

appropriately complex company route should always be preferred if involving non-condo

If the property investor is willing to take high risks, he can purchase a nice unit on preconstruction. The risk one takes if the project will ever start and more importantly, will it ever finish. If the project sells well and finishes within a year or two of planned completion date, the investor was lucky and has a nice unit to be proud of. from:

note both this and main lersuang site link to infinity etc. and Hua Hin CC but only the HHCC link appears bad on both

Hi all,

I don't know if this one has come up before but I thought it was a cracker and would like to offer some sound advice to the owner.

A really good friend (Thai) decided to buy a condo a couple of years ago and had to pay 15% over 2 years whilst it was built. It was a good location, and they are very responsible and together! They paid what amounted to about 400, 000 baht over that period and I know it was quite a struggle. Now it is finished and just before she gets a mortgage the company has sent a letter to say that it is 10% bigger than agreed in the contract and they have calculated that it is another 250,000 baht (by the m2 ) and she will have to stump that up too!

In the contract it states that if the unit ends up bigger or smaller, that you accept you will have to pay less or more depending, I find this unbelievable. It's like a single person purchasing a 35m2 pad and then when it's finished it ends up 70 m2 which they can't possibly pay for or have budgeted for and why the hel_l should they have and still have to pay double!

The only thing I can see, is that a judge could possibly ,decide that there is no actual cost per m2 extra listed in the contract, so why should she pay the retail m2 price just because they want you too? You signed at a certain *** m2 in good faith and they have ended up constructing it way outside that, so why shouldn't it be either nothing more, or the building costs only?

I really feel for them, and it is not simply an easy 'oh get a refund type situation' as they have struggled and waited for 2 years whilst built and the value now built is way over what was paid. If this happens on a large percentage of the units it appears like a total scam to me in adding a % profit to the whole project for the owner.

Any expert advice would be appreciated.

Mak

Firstly its not 'like' they are being asked to pay double. They are being asked to pay for an extra 10% floor space (at 166,666THB less than the 10% actually represents according to the original contract pricing). (I also note you say its now worth far more than what was paid - assume you mean rise in values generally rather than the 250,000thb they are being asked to pay).

It would be unusual for the price per square m not to be specifically stated in the contract and even if its not a judge (or anyone) would not take long working it out (price divided by scheduled size multiplied by actual size).

It is not unusual at all for there to be differences in final build size. 10% is a bit more than typical though. Usually anything above or below by up to 5% the sale stands and the buyer pays or is discounted the difference. Beyond 5% they can (in theory) choose to do that or break contract and get a refund. I feel for them in that it is beyond what they budgeted and if they may not be able to secure financing but given (in my experience at least) how common this possibility is I am a little confused why neither the contract deals with it or they did not at all anticipate the possibility.

I do not believe at all that it is a scam (i might wonder where else the builder's measurements went wrong though!). They are being asked to pay 93% of the actual increase in floor space on the value per square meter of the original contract, and if I understand you correctly the market value of the unit per square meter is also now much higher than that in the original contract anyway.

Of course if they do not wish or are unable to go ahead I cross my fingers for their refund in (my general assessment of) the current market.

ideally Lersuang should have dealt with it straight away head on with the Mirror

as they have not it would have been better (for them and PG) for there not to be anything until the full response rather than this pathetic teaser which correctly or not smells of headless chickens and a overly 'sympathetic' paper

in any event i am not be surprised by the original story or the apparent response by Lersuang or PG

(PG states a response from Lersuang would be 'helpful' for balance (not the fault of the Mirror if as reported Lersuang don't get back to them), then PG adds they had no trouble getting in touch with Lersuang for comment - so why does publication of their comment await the special report when it would restore the balance their header complains about? i can only imagine what the 'special report' will contain)

as to joe cole "Joe is upset to learn that people have lost out financially. He invested in good faith." or promoted (as reported)?

Posting here (or in another forums) is the start to not to not go ahead foolishly and start whining afterwards.

It's only 450K Baht, but can anybody afford to throw away 450K Baht?

Better informing than spending foolishly.

The story of people having lost their investment is too many to fall in the same trap again.....

of course, good luck

I was a month ago on summer holiday at Jomtien Beach and noticed the low prices of condominiiums.

At these low prices, I would like to invest in a Condominium.

But I have no clue what rights the owner of a condominium has.

- knowing your rights is just one of a set of things that need to be considered before giving the investment a true value in your mind - comparing current prices with those previously / suspected future values for the same area etc. or comparing with other 'property' abroad without such range of knowledge is comparing apples and oranges and (just to throw in another metaphor for the sake of it) deciding its a 'good investment' or a 'good place' to live without this is cart before horse

I know already the repeated to dead "don't invest in anything in Thailand that ...."?

So, these replies can be spared here.

- can understand you want specific advice but there are grains of truth in all such sayings

What I want to know is:

- if the Condominium should tumble down, what rights do the (fahrang) owner has on the land?

- shared ownership with other unit owners according to floor space - you'd have to do the sums but even at a fire sale price your share of the sale of the land in the event of a building collapse or whatever may be scant reward

- if the owner of the Condominiums is not complying with the maintenance, what rights do the (fahrang) owner have to force this upon the owner?

- etc...

-as others have said read condo act and then think how it will actually work in practice - there are mechanisms to force / cajole a unit owner to stump up maintenance fees etc. but if the money is not forthcoming as and when needed (and more than one tardy unit owner) the others will likely have to dig deeper in order to protect their shared interests

Also, an important question is: Why are the Condominium prices so low when the Baht is stronger than ever.

- vague question, variety of reasons and as with all real estate you may or may not ever find the real reason something is priced as it is - is it a genuine / market reasons for it being 'low' or is it in fact overvalued

A particular Condomimium, "the Spanish Condominiun" is publishing in their website from a few years ago prices from +1,5 milj. where now they are seilling the same NEW Condominiums for prices starting 450,000 Baht.

Something sounds fishy here.

-as above, but i would lean to the fishy 'sound'

posting here is part of it but should not of course be the end of it the key with anything is research if you are unsure but if its only 450k?

you were not under duress when you bought it for your girlfriend whilst wanting to retain some control and or benefit?

i don't own it either - i will sell it to you for special price of 1million THB - Ok?

Unhelpful Thaiwanderer. we all have to learn.

a flippant comment maybe but i was underlining the rat the OP already smelt - hope the OP takes it in the spirit it was intended (if not expressed properly)

i don't own it either - i will sell it to you for special price of 1million THB - Ok?

Well, presumably as it was allegedly a gift from him to his girlfriend in the first place rather than her being his nominee she is perfectly free to do with the condo as she wishes and she receives the rent from it?

Yet the OP says HE wants his girlfriend to have it when HE dies - surely she has it already, right?

Also the OP says HE does not want her mother to get it? But its not his to have a view on this anyway, is it?

Actually the tax probably protects him a little more than if the usufuct had merely been given for free. Was there a little fat on that tax? maybe, who cares - the 'competent offical' could have just refused to register the usufruct and the OP could make noise about 'legal rights' and have a little investigation into who was really the beneficial owner of the condo if he wished to be so indignant - wonder if that would stand up to the scrutiny and holier than thou approach the OP wishes to take on the official?

Its one thing to complain about corruption (if indeed there is any here) but another to do so with less than clean hands yourself.

(As others have indicated his wishes could have been better met via different structures anyway.)

you want to circumvent / bend the rules but moan when it costs you a little grease?

what ever happened to this law? , 12 years on and still corruption occurs everywhere

http://en.wikipedia.org/wiki/1997_Constitution_of_Thailand

It got updated in 2007.

and Rule of Law required before satisfactory enforcement of individual laws