Having confidence in a developer

[simoh1490]

1 minute ago, watcharacters said:

 

 

 

Maybe you define escrow differently than I do.

 

 

I know an escrow company  as being 100% neutral between buyers and sellers.

 

Please disagree with that!

 

 

 

Read the article about Kbank then go troll somebody else, we're done. Out!

[watcharacters]

1 minute ago, simoh1490 said:

Read the article about Kbank then go troll somebody else, we're done. Out!

 

 

 

Good bye..

[cornishcarlos]

13 hours ago, scorecard said:

 

Here's a good point, take the trouble to talk personally to owners in the previous developments with some well chosen questions, and in my view one of the most important is the state of maintenance;

 

- I there an owners committee? Is it run according to the law? are they focused on the right things? is there planned maintenance and repair and replacement is is every maintenance activity jut knee-jerk after the event?

 

- Is there a sinking fund, is it structured to progressively built a decent size fund? Is there proof that part of every month's maintenance payment actually go into this fund and where are the funds held (bank etc.), and is there a structured process to touch the money and is it all transparent etc.

 

- Can all owners easily access the minutes of meetings etc?

 

- Are annual / extraordinary meetings well publicized in advance? are their individuals or clans who attempt to push owners to give them their proxies, etc.

 

- Are there attempts at meetings to stop people talking? 

 

- Etc...

 

I've owned a property where the above was excellent and also owned a property where the above was just a mafia gang - in this case nothing was being maintained and I sold quickly.  

 

 

No idea... It's my wifes project, I just pay :)

We will be selling anyway, as it was never the intention to keep it long term. Whether we wait another year to avoid the 3% tax or we take an offer if we get one now, that depends on the new tenant.

If she make a couple 100k, great.. As long as she doesn't lose $$

[Coconut007]

Quote

I found a property that meets all my expectations, the developer has 7 other developments completed and operating well.  This of course does not tell me if there are others that have not been successful. A very reputable Realtor has assured me he only showed me project he had confedice in being completed and would be maintained.   I have put a deposit but have 30 days to do more research.  I would rather lose a despot now than much more later.   We hear so much about developments failing but clearly there are many that go well.   Looking for any tips on ways I can be confident I have choosen the right condo development.

You are ThaiVisa employee obviously to keep the discussion going on

 

- start a topic with a new account

- topic that is ridiculous - hey folks I just paid deposit, now is time to do some research (why the F would I do that before paying the deposit, right)

- never reply to anyone else

 

[Coconut007]

On 2/8/2018 at 9:00 AM, cornishcarlos said:

We bought a Lumpini condo in BKK. Very happy with 90%...

Our tenant wants to buy it, after renting for just 1 month !!

I think Lumpini have a good rep :)

 

Pretty much every Lumpini project has hundreds or thousands of shoeboxes units.

 

Of those hundreds/thousands over 50% is for sale... I think you should take the offer because you won't find fools like that often.

[scubascuba3]

Pretty much every Lumpini project has hundreds or thousands of shoeboxes units.

 

Of those hundreds/thousands over 50% is for sale... I think you should take the offer because you won't find fools like that often.

Not sure that's true, Lumpini Naklua Pattaya, has around 20 for sale on hipflat out of 2000 condos, thats 1%. Where can i see the 1000+ for sale?

 

[smutcakes]

On 2/11/2018 at 3:15 PM, scubascuba3 said:

Not sure that's true, Lumpini Naklua Pattaya, has around 20 for sale on hipflat out of 2000 condos, thats 1%. Where can i see the 1000+ for sale?

 

You would not get me in and LPN shoe box for love nor money, but by all accounts they are well constructed, well managed and good value for money.

[scubascuba3]

You would not get me in and LPN shoe box for love nor money, but by all accounts they are well constructed, well managed and good value for money.

You don't have to buy the smallest of the small they have bigger condos too. From memory, 23m, 26m, 34m and 45ish+. As for value I'm not sure, they seem to be 60-70k per metre which is relatively high