Final Payment On House

[niggle]

OK, I will be coming to Thailand late March to make final payment on house / keys handover etc. Naturally I do not want to hand over payment until I have checked everything but also need to get money over there ready for my final inspection. I usually transefer bank to bank but does anyone figure that a bank draft would be ok to take with me and would it be ok for a tor tor to be issued

How have others dealt with this issue

Thanks

[malcolminthemiddle]

How long will you be in Thailand? A bank to bank transfer can be expressed within 3 working days.

I think the bigger problem could be the time needed for the builder to complete any defects you may find prior to final payment.

Depending on the location of the property, you may wish to appoint a professional to snag the property on your behalf before you arrive, that way any defects that take time will have been completed before you arrive. In most resorts Pattaya, Hua Hin etc there are companies that offer this service, shouldn't be expensive either.

[niggle]

Can anyone recommend such a person to check oout house for defects prior to my arrival?

[niggle]

Oops sorry, forgat to mention , its Hua Hin I am coming to

[quiksilva]

Why get someone else to do this, you just made a siginificant investment so it is definitely worth your time to inspect it yourself.

Most developer's are reasonable sorts who will allow time to remedy defects before transfer. Insist on it, they need the sale and their reputation is at stake here.

Arrange a day for the developer to meet you to do a defects inspection. Go over the whole house with a fine toothcomb and do not accept any defect whatsoever.

Start outside the house, work clockwise (my boss in the UK taught me this when I was doing home buyer's reports, its about keeping and sticking to a consistent method). Look at every little detail. If it doesn't look right, stick a red marker on it (sticky tape is good, not ultra strong stuff though you dont want to damage wall paper) and ask.

Once inside, work your way through the house, room by room, methodically working your way around clockwise again, and from high to low, scanning each section for any imperfection to mark with your red sticky tape.

Check every electrical fitting to see that they work, are they secured tightly? Can you move them? Turn them on and leave them on at the end of the inspection, check, are they all still working?

Check for leaks and water flow at taps, sinks, drains, baths, showers, and toilets. Splash some water on the ground in the toilet does it run to the drain? - do this again on flat roofs or balconies, check to see that there is no ponding.

Open and shut every window or door (do they close properly? do they lock well?), are there any paint spills or splashes, uneven walls, parquet flooring / tiling, wallpaper rips etc. Anything that needs attention?

If you can inspect with a friend, get one person inside to get to the sink and one outside with an open drain, run some water, flush the toilets, does the water flow away quickly?

You paid for a finished product, you most certainly did not pay for defects, so take some time inspect properly allow them time to make good and only transfer once you are satisfied.

Once you have transferred the developer is not obliged to do anything, but good ones will continue to help.

[thaihome]

Transfer the money to your Thai bank (you do have a bank account in the country you just bought a house, right?). When you arrive make the inspection, give them a few days to fix then set date to do settlement at land office. Developer will give you form with various amounts you will need to pay (you do have someone you trust that can read Thai right?) Get bank checks made out to developer at your bank.

TH

[oswaldcassidy]

OK, I will be coming to Thailand late March to make final payment on house / keys handover etc. Naturally I do not want to hand over payment until I have checked everything but also need to get money over there ready for my final inspection. I usually transefer bank to bank but does anyone figure that a bank draft would be ok to take with me and would it be ok for a tor tor to be issued

How have others dealt with this issue

Thanks

I now reside in thailand prior to moving out I went to my bank and put my daughter down as a nomanee to act on my behalf when ever I need funds for whatever she now has the authority to do this on my behalf you could do this with a member of your family and when you are satisfide with your build they could then send the money out on your behalf it takes about 3 days and costs about £20