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I am thinking about buying a condo .


sangtip2

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27 minutes ago, BritManToo said:

Booking another night would be the obvious answer.

I'd think that was cheaper than buying a condo.

What if the hotel is full? Schlep you bags to another one? Waiting in the lounge from the check out time to the check in time? Actaully what I do when I stay in BKK is store bags with the conceigre, then I shower at the pool lounge prior to going to the airport. Are the pools still closed?I did a little hack saw math on my real numbers. If I had rented the same unit for 13 years strait I would have broken even roughly. With purchase cost, I would miss out on a rough $35000 USD profit if I sell. I did put a heap into reform and furnishings, and off course condo fees and utilities but they are very low. Something a person of international standard incomes hardly thinks of. 

 

I only use it about 2 months a years. How much would 780 nights in LeMeridien Chiang Mai have cost me?

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17 hours ago, newnative said:

    I would have fired your lawyer.  It's his job to manage all the paperwork--and that includes all the expiration dates on POAs and debt free letters.  It's also his job to be aware of any Land Office changes in procedures.  A competent lawyer would have gone to the Land Office ahead of time to make sure that the POA was acceptable and all the paperwork, including the FET, was in order. 

    With this visit he should also have obtained the likely closing cost charges so you would have that information in hand for your first--and ONLY--visit to the Land Office for the closing.   When you paid him 6000 baht to go to the Land Office he should have been doing all of the above--as well as all the prep work beforehand  to have all the paperwork in order before his visit to the Land Office to have the paperwork approved.   When the lawyer is doing his job, the job you are paying him to do, there should be no surprises and no extra expenses like the ones you mentioned and the process should go smoothly.  

Please dont quote when you have absolutely no idea of the facts surrounding this case. The original lawyer who had dealt with the sale had a stroke right in the middle off the the transaction. He was holding all the documents including the land title. No one could access his office and to this day , all those documents remain in his safe and no one can gain access to them. He was a great lawyer and worked for me for over 12 years , now he can not talk and his bedridden and as to be wheeled around in a wheelchair. The new lawyer taking over from him did an absolutely amazing job in finally getting the transfer sorted out. 

The main problem being the letter from the bank , with the bank refusing to issue it without the old lawyer going to the bank which is impossible in his state of health.

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17 hours ago, HampiK said:

Nice story, but I am asking myself why you had that much troubles?
I gone to the land office myself always No need of a lawyer. But yes problem can occur...

Please read my reply to Newnative , then you will you fully understand what happened.

In this perticular it would be impossible to sort out without a really good lawyer involved.

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40 minutes ago, Captain Monday said:

What if the hotel is full?

If I had rented the same unit for 13 years strait I would have broken even roughly. 

most of  the hotels/guesthouses open are completely empty.

4 seasons near me has 2 rooms with  guests.

Presumably you know when you're likely to leave when  you book in.

 

What you did 13 years back (when your currency was high and the Baht was low) has no relevance to today, in a country we're not welcome and may not be allowed to stay next year. The resale of your purchase may be approaching ZERO at this moment in time. 

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8 minutes ago, Brick Top said:

In this perticular it would be impossible to sort out without a really good lawyer involved.

Lots of places for sale, why make life more difficult with a problematic purchase?

My purchase, the misses and I walked to the land office, where we met the bank and property company representative.

I sat and waited, signed a form saying the property was nothing to do with me, and they handed over the house key.

Couldn't have been simpler.

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5 minutes ago, BritManToo said:

most of  the hotels/guesthouses open are completely empty.

4 seasons near me has 2 rooms with  guests.

Presumably you know when you're likely to leave when  you book in.

 

What you did 13 years back (when your currency was high and the Baht was low) has no relevance to today, in a country we're not welcome and may not be allowed to stay next year. The resale of your purchase may be approaching ZERO at this moment in time. 

Can't disagree but covid will end someday. If I knew what I know now I would probably never would have come to Thailand at all.  For those who don't need granularity and or dislike long posts stop here.

 

I never wanted to own a house in US.  "Thailand" flogged me a dream lifestyle, made possible by constant international travel and nice condo I could have for the price of a  car in the US.   Always admired people who have few  objects and attachments, but everyone needs a place to crash,  and I like my toys. Everyone who works for the man needs for legal reasons a known abode. An address of record.  Cant say I wasn't warned. I was told my condo would be "confiscated". I was told the neighbors would cause problems.  I was told the management was bad. All nonsense. Nobody ever mentioned I would not be allowed in the country multiple times a year without  hassles about so-called proper visas. Nobody told me about a virus. TM-30 is just a nuisance.

 

 The first time probably I came to BKK  I met a man who gave me some advice, most of what is bars-tool rubbish.

  • Do not get into a fight with a Thai man. Meaning even  if you win later he will come back mob handed and you will be beaten half to death if not killed.
  • Do not open a business.
  • Do not purchase a home to be registered in a woman's name.
  • Do not invest anything you cant afford to lose

Why fight anyone? Of course there are many Farang business triumphs.  I do not know a single person who has been done over by his Thai wife, except the nonces who brought  to USA. The thing about do not invest what you cant afford to lose is the ONE rule I follow, thus I am not part of of the rent only crowd. Once you have ownership your whole outlook on real estate changes. I bought a Thai condo, If I lose it no biggy. Not having a landlord, and the various hassles that involves in a wonderful thing I never would have known once I became an owner. Now do to covid, I have a condo in the USA too. It constitutes my plan C. The monthly costs are high but, Buddha willing it continues to go up! In a few years I will probably sell for a nifty profit and still have had what I needed, a place to crash!

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My worst experience renting.

 

I rented a certain property for several years. There was an emergency speaker in the unit for fire alarms. Two years in a row the same company came to check the speaker. Two years in a row in was "inoperative" I could still hear the fire alarms from outside in the hall there was no safety risk. So on the third year, while I have no objection to checking it again if it did not hassle me, as I was going to be away I told them I was not available to check it. I responded  I would make myself available if and only if they intended to REPAIR the speaker. I was immediately sent threatening letters about fines and eviction.

 

Now I get the same letters about emergency ladders checked twice a year and water sensors. I ignore them. As long as I pay my condo fee and remain in compliance with the written bylaws  there is Sweet F All they can do. 

 

 

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1 hour ago, Captain Monday said:

Can't disagree but covid will end someday. If I knew what I know now I would probably never would have come to Thailand at all.  For those who don't need granularity and or dislike long posts stop here.

If I knew then what I know now, I'd have come to Thailand in 1999 (before my Brit wife asset stripped me), bought a company and all the land around Chiang Mai I could afford (10kbht/rai at 75bht/pound) and be a multi-millionaire living on a yacht offshore of Mauritius with half a dozen Pattaya go-go girls.

 

But that was 20 years ago, today I wouldn't do any of that.

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6 minutes ago, BritManToo said:

If I knew then what I know now, I'd have come to Thailand in 1999 (before my Brit asset stripped me), bought a company and all the land around Chiang Mai I could afford (10kbht/rai at 75bht/pound) and be a multi-millionaire living on a yacht offshore of Mauritius.

 

But that was 20 years ago, today I wouldn't do any of that.

So you would have bought land in a Thai woman's name?

You must have a very very trustworthy partner. BritMan😂

My ex would have traded me in for a second string bench warmer from the Sacramento Kings. 

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1 hour ago, mike787 said:

do it NOW....pandemic is beginning to end and prices will jump big.  So pay the discount now or pay big soon and lose out.

I think it's just the start of a series of pandemics ......... and international travel is finished forever .... except for the extremely rich.

............. but I'm probably wrong.

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3 hours ago, Brick Top said:

Please dont quote when you have absolutely no idea of the facts surrounding this case. The original lawyer who had dealt with the sale had a stroke right in the middle off the the transaction. He was holding all the documents including the land title. No one could access his office and to this day , all those documents remain in his safe and no one can gain access to them. He was a great lawyer and worked for me for over 12 years , now he can not talk and his bedridden and as to be wheeled around in a wheelchair. The new lawyer taking over from him did an absolutely amazing job in finally getting the transfer sorted out. 

The main problem being the letter from the bank , with the bank refusing to issue it without the old lawyer going to the bank which is impossible in his state of health.

     I stand by my answer with the facts that you gave in your very detailed, first post.   You gave the fact that you went to the first try at closing and the FET was not accepted by the Land Office.  Next, you gave  the fact that once you finally got the correct FET,  at your second try at closing your  POA was now not acceptable at the Land Office and needed to be changed.  You also gave the fact that you were paying your lawyer 6000 baht every time he went to go to the Land Office and you gave the fact that you were paying 10,000 baht every time you had to order a new POA.   You state the fact that at the third try at closing the debt free letter had expired so that attempt was also unsuccessful. 

     Since you were paying him to represent your interests, your lawyer should have gone to the Land Office prior to the first closing date and had both documents approved.  I wonder what he was doing on those visits he was charging you 6000 baht for.   He should also have been up-to-date on any policy changes by the Land Office, which would have caught the problems with both the FET and the POA.   After all the problems with the first two attempts, he certainly should have gotten everything approved prior to your third try.  There's no sense trooping to the Land Office with both incorrect and expired documents.   

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1 hour ago, newnative said:

     I stand by my answer with the facts that you gave in your very detailed, first post.   You gave the fact that you went to the first try at closing and the FET was not accepted by the Land Office.  Next, you gave  the fact that once you finally got the correct FET,  at your second try at closing your  POA was now not acceptable at the Land Office and needed to be changed.  You also gave the fact that you were paying your lawyer 6000 baht every time he went to go to the Land Office and you gave the fact that you were paying 10,000 baht every time you had to order a new POA.   You state the fact that at the third try at closing the debt free letter had expired so that attempt was also unsuccessful. 

     Since you were paying him to represent your interests, your lawyer should have gone to the Land Office prior to the first closing date and had both documents approved.  I wonder what he was doing on those visits he was charging you 6000 baht for.   He should also have been up-to-date on any policy changes by the Land Office, which would have caught the problems with both the FET and the POA.   After all the problems with the first two attempts, he certainly should have gotten everything approved prior to your third try.  There's no sense trooping to the Land Office with both incorrect and expired documents.   

I agree.. and there is a similar problem with lawyers in America.. they are way too focused on milking their clients.  Heard of a guy with a self defense case.. could have done 2 years and walked.. He had money to burn from working as a mercenary.. hired a hotshot lawyer for around 200k usd, and went to trial.  He got 30-50 years.

 

How many horror stories begin with:  I speak Thai, my wife is hiso (that I met near Asoke), and I usually just show my lawyer card... Bwahaha.. the smart ones are playing poor and get off easy. 

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On 2/19/2021 at 4:57 PM, sangtip2 said:

I am thinking about buying a condo .      My question is   ---   can I bring money into the country   and then go start shopping for a unit I like or do I have to pick a condo and make a contract and then bring money in to the country specifically for that purchase.

I'm thinking about buying a condo and a house. The prices are very good now. Many bargains in Hua Hin. 

Cant answer the question on money as it doesn't affect me. 

Love the user name BTW. 

 

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2 minutes ago, moontang said:

I agree.. and there is a similar problem with lawyers in America.. they are way too focused on milking their clients.  Heard if a guy with a self defense case.. could have done 2 years and walked.. He had money to burn from working as a mercenary.. hired a hotshot lawyer for around 200k usd, and went to trial.  He got 30-50 years. 

   There are good and bad lawyers, just as there are good and bad doctors, and it's the same with all other professions.   I've done many smooth, uneventful Land Office condo closings using a good lawyer to represent me, which is why I believe this poster was not served very well with his.  

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1 hour ago, newnative said:

   There are good and bad lawyers, just as there are good and bad doctors, and it's the same with all other professions.   I've done many smooth, uneventful Land Office condo closings using a good lawyer to represent me, which is why I believe this poster was not served very well with his.  

Fair enough, but I have bought two and sold one... they didn't get my money till the updated chinote copy was in my hand, with my middle AND last name. The search is done by the land office.. 

Ask your lawyer if he can issue title insurance.. Lol.  I did use a lawyer to buy and sell a house.. One of the hottest women I have ever met.. Half Chinese half Indian.. Just wow.. The way she strained to speak perfect English was just plain sexy.  Still, not nearly as rock solid as us real estate purchase. 

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On 2/19/2021 at 11:57 AM, sangtip2 said:

I am thinking about buying a condo .      My question is   ---   can I bring money into the country   and then go start shopping for a unit I like or do I have to pick a condo and make a contract and then bring money in to the country specifically for that purchase.

I just did it. Do not bring money up front !

Find a desired condo, pay 50KTHB registration fee (deducted from total price later), then transfer the instalments  from your country directly to the condo management. Be aware to add to the transfer order specific remark: To purchase a condo unit No. nnn in xxxx project, address  yyyyyy.

This will make everything smooth, especially the transfer of ownership to your name.

For me it enabled to to all this from my country ( I checked the property before I left Thailand in Dec 2019).

Sent them a POA and they do the registration and the inspection for me.

Pick a reliable and renown project. You can trust these.

Good luck

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On 2/19/2021 at 12:37 PM, ukrules said:

If you think it's a buyers market just wait until next year.

If you want the condo for your leisure and not as investment for rent, do not wait. live here and now. Nothing is promised and secured for us.

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It's a buyers market out there.  I know that I would be offering much less than what they are asking/begging.  If they don't like the price I offer just walk.  There are many condos out there that are unsold and have been for many months or even years.  

 

As has been mentioned before, I would rent a condo in the building that you are thinking about buying into.  This will give you a better feel for what the place is like at different times of the day.  Lease could be short such as 2-3 months.  

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On 2/21/2021 at 2:13 PM, BritManToo said:

Lots of places for sale, why make life more difficult with a problematic purchase?

My purchase, the misses and I walked to the land office, where we met the bank and property company representative.

I sat and waited, signed a form saying the property was nothing to do with me, and they handed over the house key.

Couldn't have been simpler.

So it was my fault that my lawyer had a stroke right in the middle off the sales transaction ?

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20 hours ago, newnative said:

     I stand by my answer with the facts that you gave in your very detailed, first post.   You gave the fact that you went to the first try at closing and the FET was not accepted by the Land Office.  Next, you gave  the fact that once you finally got the correct FET,  at your second try at closing your  POA was now not acceptable at the Land Office and needed to be changed.  You also gave the fact that you were paying your lawyer 6000 baht every time he went to go to the Land Office and you gave the fact that you were paying 10,000 baht every time you had to order a new POA.   You state the fact that at the third try at closing the debt free letter had expired so that attempt was also unsuccessful. 

     Since you were paying him to represent your interests, your lawyer should have gone to the Land Office prior to the first closing date and had both documents approved.  I wonder what he was doing on those visits he was charging you 6000 baht for.   He should also have been up-to-date on any policy changes by the Land Office, which would have caught the problems with both the FET and the POA.   After all the problems with the first two attempts, he certainly should have gotten everything approved prior to your third try.  There's no sense trooping to the Land Office with both incorrect and expired 

 

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On 2/19/2021 at 9:07 AM, bluebluewater said:

I know three different fellows who have condos to sell.  Not a nibble, not a chance, and they see no change for quite some time.  To a man they have all said that buying instead of renting was a big mistake.

Curious where your friends are selling their condos, I may be in the market, but looking for a good deal.  PM me with links for viewing pics/pricing please.

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