Help for condo

[Tonyfarang]

Hi to all

 

I just signed up despite I read posts for years...

 

I am visiting Pattaya once again and I was always looking to buy a condo near the life... I'm a bit sceptical and was afraid so..I think I did a mistake.

 

 

I found a cheap condo around 28 SQM in not good state and old building (similar and near to nirun).. building has no elevator and appartment offered for 750k. I liked initially but after paying the deposit (1500k) I realized that I might did a big mistake.

 

I would really appreciate your time and help on suggestions what to do now.

 

I understand that the owner has got the 1500k and of course not willing to give them back as we signed on the agreement.

 

The question now is shall in leave it and lose my deposit or it worths it?

 

I don't believe that with 750k plus around 300k that it needs (kitchen, washing machine, fridge, beds etc) I can find something better or in location near the city life.

 

What do you think?

 

 

Many thanks to all 

[scubascuba3]

That's not a bad location, I'm on the same road and can walk to Buakhao and to Walking St. Personally i would have avoided a deposit, if seller doesn't like it the deal is off, but too late for you.

 

Maybe continue with the deal. I doubt you will get the deposit back that's the idea of it

[richard_smith237]

1500k ?? Do you mean 150,000 baht or 15,000 baht ????

 

Either way, no one else can make this decision for you - the only thing you can do is think long and hard, perhaps visit some other places and make a more informed choice. 

 

Another options is to give the seller a heartbreak story and see if he is willing to return your deposit. Unlikely, but you never know. 

[blackcab]

Just in case there is a next time, you don't need a deposit. There will not be a queue of people behind you waiting to buy.

 

Just agree a date and both turn up at the land office. Pay when the officer indicates.

[Tonyfarang]

Thanks to all

Apologies I'm stressed and I wrote in euro (1500euro). I have given 50.000 THB as deposit.

 

I been and show it again now it's really old and nothing inside. Building is 90s at least..

 

Also I checked the roof it's gypsum slice and asbestos chement sheets. I think not good.

 

What is your suggestion?

 

Thank you 

 

 

 

[scubascuba3]

get drunk, life seems better

[mosan]

It's a gut feeling type of call.  If it doesn't feel right, walk away.  50K Baht isn't the end of the world, but if you're going to regret this for the next 1, 2, 5 years...forget about it.

[fhickson]

1500k is about $45 usd.

id just walk and buy him a beer.

[Tonyfarang]

You are right.. I been again and show that the roof is like that. (Photo)..

I was expecting a better roof at least

. What you think ?

 

Does it worth really or just a normal to high price location is near nirun and shukmvit

Many thanks to all guys 

 

 

[Tonyfarang]

2 minutes ago, fhickson said:

1500k is about $45 usd.

id just walk and buy him a beer.

Sorry mate 1500 euro (50k THB). Sorry 

[kingofthemountain]

Consider it likes an expensive lesson

 

if i was you i try to have at least 1000 euros back

(You can invent somes reasons, the more dramatic is, the better is)

and it's just 500 euros lost, not the deal of the year.

 

Anyway don't hope to have 100% of the 1500 back to you

The seller is a Thai or a farang? What is your ''relation ship'' with him?

 

However considering how you have managed to ''buy'' this condo

i recommand you to ask yourself if it's really a good idea for you to buy

something here.

No offense but you sound a little bit like the ''blue or the year''

for a potential desperate seller (There are a lot here since the market

is a buyer market with a lot of oversupplies) and you are probably going

to be ripped off the next time also, in a way or another.

 

Pattaya is a rough world, you need some time and knowledge to understand 

how the things go here and avoid basics mistakes, like the one you have done.

 

Good luck

[fhickson]

are you in possession of the property?

 

i would delay and live in it as long as possible, then bail.

 

a month and your out only 30-40 maybe.

[kingofthemountain]

1 hour ago, Tonyfarang said:

You are right.. I been again and show that the roof is like that. (Photo)..

I was expecting a better roof at least

. What you think ?

 

Does it worth really or just a normal to high price location is near nirun and shukmvit

Many thanks to all guys 

I think when you buy a condo

it's better to check everything BEFORE to pay .

 

The location is not all, if the condo is in bad condition, the price need to be low.

 

In your actual position, i recomand you to start to rent a condo in the area where

you want to live and see how it works during some months.

As a tenant, you can change easily of location. If you are the owner

you are stuck in your condo for years.

[moonseeker]

Try get some money back and walk. This is standard Thai construction. But yes, you can find better for that money. Good luck. MS>

[FritsSikkink]

1 hour ago, fhickson said:

1500k is about $45 usd.

id just walk and buy him a beer.

1500k = 1500000

[jastheace]

you want to walk, then walk. 50000B no biggy (unless it was my money then i'd be a little <deleted> also).

if you find a better one, knock some $$$ off the asking price. as has been mentioned, it's a buyers market. 

have another look around, loads about, then decide.

if it's near nirun and you like the area, pop into the nirun street look for the condo agents, i think there's a few , kev in thailand has done a post on youtube of that area. you may find a better condo for less, and not worry about that deposit after all.

seems like yr heart ruled your head for a moment, not to be done in pattaya, and not just condos either.

good luck on the learning curve.

 

[newnative]

      You need to decide for yourself if you want to go forward or bail out.  I will say that if you do go forward it should not cost 300,000 baht to do the kitchen and furniture.  Buying a condo is a major purchase--here or anywhere--and should not be done on a spur-of-the-moment whim.    

[baansgr]

Walk away....Nirun foreign name that size can be had for 500k....condo prices are flat...1 mil, you can get a 40sqm furnished ready to move in jomtien 

[wobblyjohn]

Maybe better to find a condo in a area close to the places you like to frequent then rent for a couple of years before you buy

Do you have a trustworthy builder to do any work 

If not I would walk away from your deposit and learn from your mistake 

[Tonyfarang]

Guys hundreds of thanks for your responses.

 

The condo is in Spanish place. It's old building and this one is more old than the other.

 

What's wrong with the foreign name? They told me I only need to change the title in the land office, no contracts and more difficult stories..

 

I'm not staying in Pattaya permanently. I come as visitor once per 4 months for 4 days

The plan was to keep it as an investment and when I'm coming I'll be staying or rent it. Also as I'm as contractor there are times I'm without job so can stay some more.

 

You think the roof is problem?

 

Shall I avoid and leave it or proceed and get it?

 

Anyway to come here after 20 days (that the seller will be also here to sign) will cost me a flight of same amount (1200euro).. so losing the deposit is saving the flight to come ...

 

The thing is what to do?

 

Jomtien is far from life... Of course I need to search more but all the years I was searching everything was 2.5m THB and up

 

Last but not least I payed the deposit to the agent and not to the seller but the agent now tells me that the seller waits the money as she informed her that she has them and can't give them back. Also in the agreement I signed says that if I change my mind they keep the 50k THB and if they change their mind they have to return me 100k.. of course they'll never change their mind to keep it for them ..

 

So please what you think of all these?

 

Thank you once again!

[Tonyfarang]

Some photos to evaluate...

 

What do you think gents?

 

Thank you !!

[Tonyfarang]

3 hours ago, kingofthemountain said:

Consider it likes an expensive lesson

 

if i was you i try to have at least 1000 euros back

(You can invent somes reasons, the more dramatic is, the better is)

and it's just 500 euros lost, not the deal of the year.

 

Anyway don't hope to have 100% of the 1500 back to you

The seller is a Thai or a farang? What is your ''relation ship'' with him?

 

However considering how you have managed to ''buy'' this condo

i recommand you to ask yourself if it's really a good idea for you to buy

something here.

No offense but you sound a little bit like the ''blue or the year''

for a potential desperate seller (There are a lot here since the market

is a buyer market with a lot of oversupplies) and you are probably going

to be ripped off the next time also, in a way or another.

 

Pattaya is a rough world, you need some time and knowledge to understand 

how the things go here and avoid basics mistakes, like the one you have done.

 

Good luck

I didn't meet the buyer she's out of country. I signed the agreement that says that I can't get back the deposit evvn if I change my mind and if the seller changes her mind she has to pay me double.. stupid..  I payed the real estate broker which is very professional and kind bit she's not returning anything as she statee they she told to the owner that she got the money...

 

I'll try to text the real estate but I'm sure they will not give anything back..

[Dan O]

I would consider walking away and taking the loss. One of the biggest problems with condos in Thailand is that it is common practice for the condo associations or "owners" don't collect any money for maintenance to the common elements of the building. If they do collect any 'condo fee" it's never enough or used improperly to pay salaries or other items and not spent on the upkeep of the common elements of the building properly. Common elements are roof, exterior walls and windows, hallways, basically everything that is not inside your condo 4 walls, which is all you own. When something breaks or wears out they have no money to maintain, fix or repair it. Your comment about the look of the building should tell you that. If they do repair it they can hit you with an unexpected fee that you have no control over and it can become a financial nightmare. I've done several management studies on condo's in Thailand for International Management Companies and it's always an issue that comes up and never an answer can be given.

[jastheace]

1 hour ago, Tonyfarang said:

Some photos to evaluate...

 

What do you think gents?

 

Thank you !!

ok. the roof is normal. the bedroom area may get hot though if the sun hits that roof. if the roof has asbestos (if) any insulation work may disturb the fibres (not good news), if undisturbed will not be a problem. the ceiling tiles can be removed and replaced with insulated ones to take some of the heat off, but beware the dust! my concern is if you like a few drinks, is those stairs. up and down them in the night whilst drunk looks dangerous. condition otherwise looks fine. 300,000 baht will give you a smart apartment, but if you're only staying there a few nights every few months, is it worth spending anything?

new bed, aircon, fridge, couple of fans. get your laundry done in a shop.

just those stairs worry me...

[kingofthemountain]

1 hour ago, Tonyfarang said:

What's wrong with the foreign name? They told me I only need to change the title in the land office, no contracts and more difficult stories..

 

I'm not staying in Pattaya permanently. I come as visitor once per 4 months for 4 days

The plan was to keep it as an investment and when I'm coming I'll be staying or rent it. Also as I'm as contractor there are times I'm without job so can stay some more.

 

You think the roof is problem?

 

Shall I avoid and leave it or proceed and get it?

 

Anyway to come here after 20 days (that the seller will be also here to sign) will cost me a flight of same amount (1200euro).. so losing the deposit is saving the flight to come ...

 

The thing is what to do?

Obviously you have no clue about the condos and the laws here.

If the condo it's not already in a foreign name, you are going to be very busy

and probably not able to put the condo in your name.

 

You come only few days here, to buy a condo is a very very bad idea.

Forget to rent it when you are not here, more problems than money

if you have any. It seems you a looking for a permanent nightmare.

 

For someone who reads already the forum since long time it seems you

have totally missed the real estate part forum where you should be able

to hve all the answers at your questions.

 

I see the photos does not worth the price they ask.

Plus it seems to be a high level, and in your first post 

you state there is not an elevator? what the heck is that?

This condo worth less than 500 000 in the state is it.

 

Try all you can for have a little bit of your 1500 euros back

and cancel your purchase or you can be sure you will regret it untill the end or your life!!

[Tonyfarang]

13 minutes ago, jastheace said:

ok. the roof is normal. the bedroom area may get hot though if the sun hits that roof. if the roof has asbestos (if) any insulation work may disturb the fibres (not good news), if undisturbed will not be a problem. the ceiling tiles can be removed and replaced with insulated ones to take some of the heat off, but beware the dust! my concern is if you like a few drinks, is those stairs. up and down them in the night whilst drunk looks dangerous. condition otherwise looks fine. 300,000 baht will give you a smart apartment, but if you're only staying there a few nights every few months, is it worth spending anything?

new bed, aircon, fridge, couple of fans. get your laundry done in a shop.

just those stairs worry me...

Many thanks for your answer

I'm not sure if it's asbestos (which currently in other countries is forbidden as cancerous) having amianthus inside..

 

I have photo please see.. and kindly let me know..

 

I'm very sad with all this I don't know what to do 

 

Many thanks to all !

 

[Tonyfarang]

5 minutes ago, kingofthemountain said:

Obviously you have no clue about the condos and the laws here.

If the condo it's not already in a foreign name, you are going to be very busy

and probably not able to put the condo in your name.

 

You come only few days here, to buy a condo is a very very bad idea.

Forget to rent it when you are not here, more problems than money

if you have any. It seems you a looking for a permanent nightmare.

 

For someone who reads already the forum since long time it seems you

have totally missed the real estate part forum where you should be able

to hve all the answers at your questions.

 

I see the photos does not worth the price they ask.

Plus it seems to be a high level, and in your first post 

you state there is not an elevator? what the heck is that?

This condo worth less than 500 000 in the state is it.

 

Try all you can for have a little bit of your 1500 euros back

and cancel your purchase or you can be sure you will regret it untill the end or your life!!

Thank you mate .. very clear 

 

I know that it's good to be on foreigner and about the ownerships (on companies etc). It just made me sense the way you wrote it like it's not good to be on foreigner name before...

 

They don't give anything back at all..

 

You say it costs 500k but where you can find it or similar with 500k, that's the question..

 

Thank you very much,

[kingofthemountain]

1 hour ago, Tonyfarang said:

I'll try to text the real estate but I'm sure they will not give anything back..

I think you don't understand

if you want to have any chance to get back some of your money

you need to go in person in the office, not to text or phone call.

And again prepare a very good story, if you just say you change your mind

it's not even worth to go to the office, you can be sure you will have nothing.

Try to say your bank doesn't want to transfer the money, they want you transfer back

1000 euros first and then you can have your money.

If they think it's the only way to get you buy this condo, it could work.

If not.you are screwed.

You can be sure of something, nobody is going to buy this condo

even at 500 000. there is not even a place to put a real bed !!!!

[kingofthemountain]

2 minutes ago, Tonyfarang said:

You say it costs 500k but where you can find it or similar with 500k, that's the question..

 

Thank you very much,

Obviously you still don't understand

 

i said to you already to stop to think about buy a condo here

and it's better for you to rent!!!

What you don't understand in this sentence?

 

That was my last try to help

if you don't get it

i let someone else give it a try

[Tonyfarang]

2 minutes ago, kingofthemountain said:

I think you don't understand

if you want to have any chance to get back some of your money

you need to go in person in the office, not to text or phone call.

And again prepare a very good story, if you just say you change your mind

it's not even worth to go to the office, you can be sure you will have nothing.

Try to say your bank doesn't want to transfer the money, they want you transfer back

1000 euros first and then you can have your money.

If they think it's the only way to get you buy this condo, it could work.

If not.you are screwed.

You can be sure of something, nobody is going to buy this condo

even at 500 000. there is not even a place to put a real bed !!!!

Thanks for your clear mail once again..

 

I don't think I can do this mate..

 

Personally I can't.. and I have no idea if I'll find her at the office she's around all the time showing homes and I fly back tomorrow evening so my time is limited as I've got to get out from Pattaya at 11 as t the latest..

 

The thing is how i can get at least a small amount back..

 

Thanks for all your help