artor Posted January 19, 2020 Share Posted January 19, 2020 (edited) Have bought a condominum from the New Nordic Company at Pratumnak, Pattaya, the construction period ended in August 2019, after more than eight month delay. The building is called "Club 3". since then I am waiting for the transfer of ownership from them to me at the Land office. They told me two times I have to wait another 1 or 2 month, but the transfer did not take place. I think it is not only my problem, but all buyers of Club 3 condos? And this month they did for the first time not pay the monthly rent. So now I am really concerned what is going on at New Nordic? Are here any other buyers of New Nordic condo with a rental guarantee? What can I do now, look for a lawyer or is New Nordic in heavy financial difficulties and they might go bankrupt and all I can do is waiting what the outcome will be? Edited January 19, 2020 by artor Link to comment Share on other sites More sharing options...
NanLaew Posted January 19, 2020 Share Posted January 19, 2020 Assuming the OP and condo owner is out of the country and this is a buy-to-let condo where New Nordic guarantee to find tenants? Is the condo actually 100% complete and is anyone living or renting there yet? Link to comment Share on other sites More sharing options...
Salerno Posted January 19, 2020 Share Posted January 19, 2020 Given the libel laws not much can be said but I hope you did your due diligence; the past of the main guy is ... interesting. 1 1 Link to comment Share on other sites More sharing options...
ChaiyaTH Posted January 19, 2020 Share Posted January 19, 2020 (edited) 7 minutes ago, Salerno said: Given the libel laws not much can be said but I hope you did your due diligence; the past of the main guy is ... interesting. I don't want to speak out of what I know but to the OP: you have reasons to be concerned, a lot. Maybe you end up fine, who knows. Edited January 19, 2020 by ChaiyaTH Link to comment Share on other sites More sharing options...
Popular Post Langsuan Man Posted January 20, 2020 Popular Post Share Posted January 20, 2020 Don't these stories all start out the same way ? In the west the expression is: "if it ain't broke, don't fix it" In Thailand the expression is: "if it ain't built, don't buy it " 2 1 1 Link to comment Share on other sites More sharing options...
Tybsy Posted January 30, 2020 Share Posted January 30, 2020 (edited) Hi, I just registered to ask if anything came of this. I'm trying to gather more information to give a family member a bit more information before they decide to invest a large sum in New Nordic. I've read the Norwegian sites about the founder's past exploits... Edited January 30, 2020 by Tybsy Link to comment Share on other sites More sharing options...
tlandtday Posted January 30, 2020 Share Posted January 30, 2020 (edited) This might be a good time to find a nice walking shoe... good luck Edited January 30, 2020 by tlandtday Link to comment Share on other sites More sharing options...
Halfaboy Posted January 30, 2020 Share Posted January 30, 2020 Have a talk with the Nordic reps.... 1 Link to comment Share on other sites More sharing options...
Popular Post BangkokBoyJohnny Posted January 30, 2020 Popular Post Share Posted January 30, 2020 In LOS : Don't buy off-plan. Don't buy 30+30+30 year leases. Don't buy in the wife's name. Don't buy using a Thai company. You'll end up losing $$$$ Buy in your home country and rent it out, use the money to rent something here... 2 1 Link to comment Share on other sites More sharing options...
Thongkorn Posted January 31, 2020 Share Posted January 31, 2020 11 hours ago, BangkokBoyJohnny said: In LOS : Don't buy off-plan. Don't buy 30+30+30 year leases. Don't buy in the wife's name. Don't buy using a Thai company. You'll end up losing $$$$ Buy in your home country and rent it out, use the money to rent something here... wow the voice of common sense. Been belittled for saying things like this in the past. Link to comment Share on other sites More sharing options...
david555 Posted January 31, 2020 Share Posted January 31, 2020 As long they don't give you the property transfer papers....on paper they own it still as collaterall ….. including with your paid money ….. accountancy trick in case of slumping sales or lack of cash flow …. 1 Link to comment Share on other sites More sharing options...
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