Ownership nightmare: British buyer’s 15 million baht condo purchase in Koh Samui hits legal roadblock

[Red Forever]

3 hours ago, SAFETY FIRST said:

I understand people who have no money, no other options, they always make excuses not to buy.

 

I live in a gated community, close to town. I bought my first house 2001, second house a couple of years later, me and my family have been living in this house ever since (renting out the first house). 

I've calculated, rents and renovations etc. I'm way ahead, house price has increased, so have rents over the last 2 decades.

 

I'd hate to think how many times me and my family would have had to relocate over the many years (landlord issues etc.) plus I've got the house exactly how I want it. 

Funny innit how those living in soulless gated communities make sneering remarks about those of us who choose not to.

[RichardColeman]

10 hours ago, Chicksaw said:

Moral of the story: Rent, don't buy. At least not anything bigger than a washing machine.

Hope my wife does not read this,

[Polaky]

If your going to buy better to buy in your own country, then lease it out and live off the proceeds in thai, at least you will own it.

[bikerlou47]

I will quickly tell you my story:

18 years ago My girl bought a house she was given all the proper papers, but when I went to the bank to get the ash I was told I had to got on a four hour road trip to go the bank where I opened the account.

i explained to the seller that I would not be able to travel for another week or so. His response was "Don't worry about it enjoy the house when you get the money let me know.

I love this Thai guy to this date.

[Mad mick]

4 hours ago, webfact said:

British Man Says He Was Scammed for Ownership of Koh Samui Condo
By Adam Judd

 

 

Samui – A 70-year-old British man has filed a report to the Thai Central Investigation Bureau (CIB) after he bought a 15 million baht luxury condominium on Koh Samui many years ago but still has not received legal documents confirming his ownership.

 

Mr. David Edward Chappelle, 70, British national, and Mr. Pattakorn Teepbunrat, a representative of the Thailand Consumers Council, filed a joint report to the CIB on Thursday (June 1st).

 

Mr. Pattarakorn said, “Mr. David first filed a complaint to the Thailand Consumers Council seven years ago in 2016. He said he bought a luxury condominium from a real estate company for 15 million baht.

 

Full story: https://thepattayanews.com/2023/06/01/british-man-says-he-was-scammed-for-ownership-of-koh-samui-condo/

 

-- © Copyright The Pattaya News 2023-06-01

 

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Waste of time filling anything Money Lost ???? gone welcome to Thailand, Rent never buy anything in Asia ! laws in our country of Origin should all be changed No foreigners can own land in your country or house Government can force change close back-door loop holes Australia prime example CCP ????????buy property non stop in Aussie. Make laws  retrospective if we can't they buy property legally in there country They can't buy in ours simple as that! ! example: Thailand does not allow u to buy house or own plot of land free hold to build house in your name ! Then ban Thais from owning land or house in your country of Origin !! same goes for criminal organisation???????? CCP China , other Asian countries especially racist against us foreigners Like you can't buy in house if an Aussie in America l know tried " if ur are not American until laws are retrospective ???? examples Philippines , Cambodia Vietnam wherever in the ???? ++++++ lf not retrospective to buy land or house this case > Thailand ! ban all Thais as foreigners from ownership of land or house in your country of Origin until same rights to own a house or small plot of land build a house  ( not farming land l get that & agree ) Thailand land of smiling criminals so many condos stories like this one ! Free trade my as_ 1 way street in Asia. As foreigner no Rights at all in Asia especially 

[Captain Monday]

Never buy off plan

[Gknrd]

1 hour ago, quake said:

Rubbish I bought over 20 years ago.

No real problems. that would be a lot of rental money down the drain and nothing to show for it.

Wife gets it as an asset when I die. 

 

 

 

Actually if you would have put that money in the S&P 500 you would be extremely well off , much more than the house is worth. and you would of never had to mess with a rental.

[quake]

4 minutes ago, Gknrd said:

Actually if you would have put that money in the S&P 500 you would be extremely well off , much more than the house is worth. and you would of never had to mess with a rental.

Crystal balls are great.

When they work.

 

[NorthernRyland]

11 hours ago, simon43 said:

The (foreign) lawyer based in Phuket handed my cash over to the owner's family and they refused to sign over the land to my wife.....

garbage family.

[ChrisY1]

2 hours ago, SiSePuede419 said:

B15M for a....condo?!?!?

 

Further proof, you don't have to be "smart" in order to be "rich" and "successful". ????

 

 

Where do you live? That price for a good apartment is reasonable for these areas...….40+ in Bangkok...

[Darksidedude]

you need a good lawyer to do all the checks otherwise forget it, i have been using the same one for 20 years 50 k baht cost is worth it 

[Darksidedude]

2 hours ago, quake said:

Rubbish I bought over 20 years ago.

No real problems. that would be a lot of rental money down the drain and nothing to show for it.

Wife gets it as an asset when I die. 

 

 

 

exactly

[jesimps]

11 hours ago, Chicksaw said:

Moral of the story: Rent, don't buy. At least not anything bigger than a washing machine.

If I had my time here over again I'd do exactly that.

[kennw]

2 hours ago, quake said:

Yes your right never buy in Thailand

The sky will fall in. 

 

 

Condo with farang owner easy to sell to another farang, 

[quake]

2 hours ago, Mickeymaus said:

If you have better alternatives for investing your money then buying a condo is not a good idea. 

I bought a home, not an investment.

After many years of it being a home, it has now become an investment as it's rented out.

I have two investments back in my country of origin.

and a house up country here ( wife's has house) 

what ever people say we all need to have a home, and there not free. 

 

[Tropicalevo]

6 hours ago, off road pat said:

This is what I was always told !!! RENT !!! NEVER BUY !!! unless the money invested is unimportant and ready to be lost !!!

I bought land on Samui more than 20 years ago and built three houses on it.

Sold one house seven years ago and made a decent profit on the total amount that I had invested.

Sold a second house last year. Made more than 100% on my initial investment.

I still have the third house.

When I rented the places out, they were going for 50,000 a month on average.

 

I am very glad that there are people like you to rent them out to.

[quake]

5 minutes ago, kennw said:

Condo with farang owner easy to sell to another farang, 

or just rent it out, if you can 

[gjoo888]

11 hours ago, Chicksaw said:

Moral of the story: Rent, don't buy. At least not anything bigger than a washing machine.

Respectfully disagree. My property has almost tripled in value since I bought it, beats the heck out of throwing away rent money. 

[jacko45k]

1 hour ago, ezzra said:

The sad part is that “to all intents, constructions, and purposes” the man has lost his money no matter how hard he will try to get it back as monies spent on lawyers, one of those situations where this case can be dragged and dragged for ages with no conclusion.

And the poor guy is already 7 years on that road.

[brianthainess]

2 hours ago, SiSePuede419 said:

difficult to sell because Asian people have a cultural bias of wanting to buy NEW property instead of USED 

I found Australians are just the same 

[Smokey and the Bandit]

11 hours ago, Chicksaw said:

Moral of the story: Rent, don't buy. At least not anything bigger than a washing machine.

Renting a condo or property is lost money! If you get a decent estate agent, buying is usually no problem as thousands will testify, but there are also crooks around?

[BritManToo]

3 minutes ago, Smokey and the Bandit said:

Renting a condo or property is lost money! If you get a decent estate agent, buying is usually no problem as thousands will testify, but there are also crooks around?

If you're in your 60s it's hardly worth buying a property.

[steven100]

moral of the story ;   never do any business dealings in Thailand,  it's just far too risky and there are too many thai cheats and scammers.  don't trust anyone here.  That way you can't be taken ....

 

 

[jacko45k]

1 minute ago, Smokey and the Bandit said:

Renting a condo or property is lost money! If you get a decent estate agent, buying is usually no problem as thousands will testify, but there are also crooks around?

And buying one at 70 years old isn't much better..... most condo purchases would easily cover about 15-20 years of rentals. Unless you have someone to leave it to, wasted money. along with the headaches of being locked in here. 

[jaideedave]

2 hours ago, SiSePuede419 said:

B15M for a....condo?!?!?

 

Further proof, you don't have to be "smart" in order to be "rich" and "successful". ????

 

 

Yes I just realized that fact also(15 mil) .It must be a whopper of a condo.This chap I assume is quite well off to pay that much for a place he only visits occasionally. One born every minute as they say.

[Smokey and the Bandit]

3 minutes ago, BritManToo said:

If you're in your 60s it's hardly worth buying a property.

I suppose it depends on how long you live?

[Aussie999]

11 minutes ago, brianthainess said:

I found Australians are just the same 

Really, funny how there's very few houses on the market, in all Australian states, not sure whete you got your info.

[steven100]

I was with a guy from Canada yesterday and he was telling me he'd been cheated out of 4.5 million baht.  I hear the same story every week over and over from expats here ....  everyone who comes to Thailand gets cheated out of money, house, etc ...

[thailand49]

Problem here plenty of regulations but no one to check or enforce. 

It seems anyone can buy or sell and if caught no real tort to prevent others. 

There are no Title companies 3rd party to research ownerships, Leans on properties even if there were not sure it would make a difference with corruption so wide spreaded. 

[Paul Henry]

If you are going to make a capital investment in Thailand you should employ a lawyer to check all documentation etc before you sign. A few thousand baht is a small amount for lawyers fees compared to you investment. This applies to many countries throughout the world.