3 minutes ago, Ironmike said:

As a former builder I can tell you that the biggest mistake is to buy through a developer the prices are so inflated it's a joke my advise to anyone wanting to build here is to first buy the land and secure the title then contact a private builder that has good references and pay in installments incase they do a runner. 

Never allow your Thai wife to do much never allow any one group to handle everything and never pay upfront. 

and never trust anyone. 

13 hours ago, bdenner said:

Going back to 2001:- This is why Steven Heather's novel "A Private Dancer" Should have been compulsory reading in ALL flights to Thailand.

You mean, Steven Leather, of course

Obviously didnt do their homework when conducting business in Thailand. Scams everywhere in Thailand.

Bloody hell. They took them to the cleaners for close to half a million dollars over a three year period. Wouldn't be surprised if the money has disappeared or has been well hidden in anticipation of this moment. Going on TV was a good move.

for anyone thinking of "investing" with real estate here you just need to agree a deposit and a date for exchange of deeds. None of these monthly payments should be expected. Don't buy and develop with the same company. Buy the land in a partner's name if you must, and hire a contractor once the property is the name of someone you trust. Simple stuff really but if you leave the details to a naïve and easily influenced Thai partner, the results, as we can see, can be devastating.         

20 hours ago, webfact said:

The couple returned to Thailand in 2023 to finalise the contract and related documents. The total area of the land was 403 square metres, and they chose to build a one-storey luxury pool villa.

 

The total price for the two plots of land and the house was 15.2 million baht, which the couple paid in instalments of 1 million baht per month. The payments were made directly to the real estate company, and they received receipts each month.

 

 

Hopefully he remitted all 15.2 m before 1/1/24.

Outright fraud! Due to the weak Thai legal system the real estate company beleves and, most probably, still beleives they can walk off into the sunset with the money. Selected a foreigner as a soft target who plays by the rules. Doubt if the company would select a "connected hi-so Thai" who knows the legal system and how to work outside the system, if you know what I mean.

8 minutes ago, bamnutsak said:

 

 

Hopefully he remitted all 15.2 m before 1/1/24.

why  ?  

1 minute ago, steven100 said:

why  ?  

If it's not savings pre 31 December 2023 he may well be taxed if he is a Thai Tax Resident on remittances in 2024.

I bet he's always thinking in the back of his mind,  if she didn't read that stupid add none of this would have happened. 

 

 

Portuguese man in Hua Hin looses 60,000,000 in several properties frauds in Thailand. 

My heart goes out to him. 

17 minutes ago, riverhigh said:

Outright fraud! Due to the weak Thai legal system the real estate company beleves and, most probably, still beleives they can walk off into the sunset with the money. Selected a foreigner as a soft target who plays by the rules. Doubt if the company would select a "connected hi-so Thai" who knows the legal system and how to work outside the system, if you know what I mean.

Yes it takes 1,500 people and 3 and 1/2 to 4 years for the DSi just to finally submit the case over to the prosecution.

17 hours ago, ChrisY1 said:

So easy to have this happen to foreigners. 

Often difficult to find a lawyer.....real estate people here are very similar to those in our own countries....here they just disappear and the courts are often useless!

 

Not at all difficult to find a good lawyer in Hua Hin. I have used one there for 2 property deals, and her command of English is at genuine second language level.

 

I feel very sorry for them, but there is some negligence, particularly on his part, for not using a good English speaking lawyer, especially spending such an amount.

 

 

 

 

Scam land strikes again.

Interesting to know whether Ploy is her sister, boyfriend (or nominally ex hb) and or just a friend. 

Never buy off plan, when will people learn.

Flippin fool.

Hua Hin has a whole industry of selling overpriced real estate to Farang. 5m baht for some concrete cube on a tiny piece of land squashed together next to a bunch of other chumps. I'd stay far away from the tourist ghettos and over touristed places where the developers have their fangs in deep.

Jeez, read the expression on the man's face. In Thailand a bounced cheque is a criminal offence, so he has leverage to get his money back.

 

Unfortunately Thai lawyers are known for taking your money and never actually doing their job of checking the ownership and land registration etc. I once complained about one to the Law Society; took me 7 years to get my money.

 

I wonder if this man made the mistake of using the developers lawyer? You have to use your own independent lawyer, but lots o luck finding a good one.

 

Can someone explain "right of redemption" and its relevance in this case?

14 hours ago, dddave said:

The most important phrase in Real Estate is "Due Diligence". 

Any honest Real Estate Attorney will stress, never sign or pay for anything without making sure every word of every sentence is understood and every property ownership claim is verified and documented.  

This case is far from the first time people have purchased or developed property from a distance and arrived to find out what they thought they owned, doesn't exist or that somebody else owned it.

You pay lawyers to carry out due diligence having lived here for 20 years and made use of Lawyers I have yet to come across one who is capable of carrying out such a task !

24 minutes ago, crazykopite said:

You pay lawyers to carry out due diligence having lived here for 20 years and made use of Lawyers I have yet to come across one who is capable of carrying out such a task !

In the US and most of Europe there are professional firms that specialize in title searches.  I don't believe such a thing exists in Thailand except perhaps in the commercial property sector.

15 hours ago, ukrules said:

 

So easy to avoid as well, I would never have a house built without first purchasing the land on which it is being built.

The giant red flag was when the 'developer' refused to transfer the chanote until after the building was completed. I mean that would be acceptable if there were no payments made - but only a moron would pay in advance with zero ownership.

I don't know how this is normally done when you pay a developer who currently owns the land in stages for the build and it's their land but if they wouldn't allow me (or the Mrs) to purchase the land and obtain the Chanote prior to starting the build then that's it - I'm walking out and would cancel it.

In other words - don't allow yourself to be ripped off - also any lawyer who isn't dim witted would tell you you're being scammed.

 

I wonder if they even used a lawyer and surveyor prior to the agreement

 

Yes so easy to avoid.Go down to the Land office,have the owner sign the chanote over to you and have the land office inform you when the chanote in your name.Hand your money over to the seller in cash or transfer via app to his bank.Shake hands.Job done.Have done 3 or 4 deals in the past this way,and never a problem.If you are first in the queue at the land office,the whole process takes no more than a couple of hours.

However you must remain concentrated at all times throughout the process,as there's always someone unscrupulous ready to take your money.

I feel very sorry for this couple and wish them all the very best retrieving their funds.Its a large sum to lose.

5 hours ago, Duncan 100 said:

I was approached a couple of days ago by an estate agent in Hua Hin. She has a friend that agreed to purchase a new house in a gated estate, the deposit was 1.5m, house price 6m, discounted from 6.9m, then 60 monthly payments of 93,000 (75K in principle & 18,000 in interest), She signed a contract with the developer but could only come up with 1.2m for the deposit and ran out of money. The offer to me is to take over her contract, pay the remaining 300,000 for the deposit, give her back 800,000 of the 1.2m she has put in and pay the agent a commission fee. Then the agent will sell the house for 6.9m, leaving a decent profit. Interested in anyone's thoughts 

I believe Lazada may sell barge poles!

4 hours ago, blaze master said:

 

Are you married ? 

Why would I do anything that stupid? I learn from other people's mistakes.

The total area of the land was 403 square metres, and they chose to build a one-storey luxury pool villa.

 

The total price for the two plots of land and the house was 15.2 million baht

 

That's more than $450k USD. Isn't that an insane price for a tiny plot and a one-storey house in Hua Hin?? 

22 hours ago, webfact said:

Vipavanee explained that she came across an advertisement for a real estate project on social media

 

That's where they went wrong, how much is it really worth, 4-6 million?

It is very advisable to only pay for property when a project is completed, and the payment and the transfer can be made  simultaneously. Look at what happened to all those hundreds of unfortunate buyers of the Waterfront Suites and Residences opposite Bali Hai Pier.

15 hours ago, gargamon said:

Rent, don't buy.

 

he bought 3 things, house, land and wife

That's flippin crazy.

4 hours ago, smew said:

Crooks and more criminals here than any other country 

Remember going to the land office with my lawyers to check the cadastre 2 weeks before New Year.

During our one hour stay we witnessed a constant stream of deliveries of huge gift baskets to each office.

Then came a Mercedes with a Thai couple followed by a van with 4 women.

Came out of the van the 4 women dressed appropriately carrying big boxes with ribbons.

Each of these boxes went to specific offices with closed doors.

I can imagine the same ceremonial happening everyday of the week before New Year.

Then there is what people cannot witness….

Another day, another scam.

 

Stop investing money is this country.  Just P4P, rent a condo and live below the radar.

 

These folks smile, but  their hearts are DARK!

 

Sop believing that they are special.