Read this before you buy a house in Thailand

[funandsuninbangkok]

Laurie P Smith | Sep 11, 2017

https://www.linkedin.com/pulse/thailand-cruel-experience-laurie-p-smith

 

rent in Thailand. Invest elseware

[trogers]

"...totally unaware that the developer had handed over the title deeds to ours and other owner's houses to a very wealthy British investor as security for a loan"

 

Says it all. The English proverb - "Fools and their money would soon part".

 

I wouldn't hand in big money unless my name is placed into the title deed at the Land Office.

 

I doubt they are such big fools. More likely, they were trying to circumvent the law that foreigners cannot own land, and were happy to part with money to some empty promises and got cheated.

[observer90210]

I would say, double check on the developper and his background....in real estate you have cheats and crooks worldwide..a bit like lawyers....never fully trust one!

 

But many property deals on leasehold work out fine in Thailand, if you have done your homework....and if you put in naturally only what you can afford to loose!!

 

Statistically one may have a larger chance of getting ripped of by a gold digging busty female "sick buffalo" breader, then a real estate developper in Thailand!!

Edited September 11, 2017 by observer90210

[funandsuninbangkok]

17 hours ago, observer90210 said:

I would say, double check on the developper and his background....in real estate you have cheats and crooks worldwide..a bit like lawyers....never fully trust one!

 

But many property deals on leasehold work out fine in Thailand, if you have done your homework....and if you put in naturally only what you can afford to loose!!

 

Statistically one may have a larger chance of getting ripped of by a gold digging busty female "sick buffalo" breader, then a real estate developper in Thailand!!

You say many of these deal work but these pages and the new paper seem to say otherwise.  Every time I play golf here, half the houses on the courses are unfinished and covered with weeds.

 

Why on earth anyone would do a lease for 30 years here is beyond me.   All the downside of renting(no capital appreciation) without any of the benefits( moving on at the first sign of trouble or life change).

[MrJ]

is this project/development in Pattaya - the pics in the link looking familiar to me JPV?

[smutcakes]

16 minutes ago, MrJ said:

is this project/development in Pattaya - the pics in the link looking familiar to me JPV?

The numbers and situation sound similar to JPV. It was not a simple situation and mostly down to the developer rather than any investor. I think the poor elderly British women who lost her house was the mother of the developer!!

[topt]

10 hours ago, funandsuninbangkok said:

Every time I play golf here, half the houses on the courses are unfinished and covered with weeds.

I am curious please tell us which course (sorry courses...) this is and where as that is not my experience?

[funandsuninbangkok]

31 minutes ago, topt said:

I am curious please tell us which course (sorry courses...) this is and where as that is not my experience?

Phoenix, Thana City come to mind

[funandsuninbangkok]

 

A few months old but would make me nervous if I owned a house here 

 

http://www.nationmultimedia.com/news/business/EconomyAndTourism/30305378

 

 

[topt]

13 hours ago, funandsuninbangkok said:

Phoenix, Thana City come to mind

Thanks - Thana I don't know and Phoenix I do not play enough but I think maybe your figure was slightly exaggerated for there......

[funandsuninbangkok]

45 minutes ago, topt said:

Thanks - Thana I don't know and Phoenix I do not play enough but I think maybe your figure was slightly exaggerated for there......

Just like my golf score!

[Naam]

2 hours ago, funandsuninbangkok said:

 

A few months old but would make me nervous if I owned a house here 

 

http://www.nationmultimedia.com/news/business/EconomyAndTourism/30305378

 

 

read what is important:

Quote

Three business sectors – tourism, land and property trading, and agricultural-products trading – will be highlighted and stringently investigated, as the department says it has found foreigners to be increasingly involved in such businesses via Thai nominees.

 

[NickJ]

I have owned homes here.  The last one. As beautiful as it was. Took ages to sell. I never really worried about my Thai company side of the situation. However, I can't second guess this govt. I agree with renting now.