Buying A House On A Resort

[Bomonster]

You have now bought your dream home that is on a chunk of land and has a community pool and a club house.

We pay the maintainance fee for security etc

Me and a few neighbours need help with this.

1. do we all own the site (land) together ie not the builder of the project.

2. do we all own the club house and its profitability.

3. do we all own the pool.

4. can we manage the site ourselves with a residents group.

We have never bought in thailand and would really appreaciate the help of you guys who have the experience in this area. thanks....

[WilliamJarvis]

^I think you'll find there may well be a property management company involved, hence the fees you pay. So, no, you don't own any of it - bar what you may have bought.

Edited March 11, 2008 by WilliamJarvis

[quiksilva]

It will depend entirely upon the structure of your estate and what has been declared as 'common area'. This is not the subject of what is perceived to be common area but what is actually listed as common area.

Usually the developer might wish to retain ownership of the the clubhouse and restaurants, probably even a few villas or hotel rooms. The maintenance fees will be a contribution to maintaining and keeping the paths and infrastructure in good condition.

It will also depend upon how many villas have been sold etc.

You should look to the regulations of your resort, and speak to the person responsible for management. If the resort is truly being run as a resort, but with a few villas for sale too, then it will be highly unlikely that you will be permitted to set up a residents association charged with running the place.

If you can give us more details perhaps we can advise further.

[Bomonster]

It will depend entirely upon the structure of your estate and what has been declared as 'common area'. This is not the subject of what is perceived to be common area but what is actually listed as common area.

Usually the developer might wish to retain ownership of the the clubhouse and restaurants, probably even a few villas or hotel rooms. The maintenance fees will be a contribution to maintaining and keeping the paths and infrastructure in good condition.

It will also depend upon how many villas have been sold etc.

You should look to the regulations of your resort, and speak to the person responsible for management. If the resort is truly being run as a resort, but with a few villas for sale too, then it will be highly unlikely that you will be permitted to set up a residents association charged with running the place.

If you can give us more details perhaps we can advise further.

hi thanks for post. more info

It is a small development in bangalmung 12 houses all sold but site not yet finished, an indication was given about a single resident and a member of the builders company running it, but at present we have problems with the build and the relationship with the builder has deteriorated due bad building over charging and

charging for things not agreed. So if there is a chance the company can profit from the club house/shop then we would NOT be happy. If the profits went to benifit the residents as a whole no problems.

Security costs is another concern as they could be escalated, So an increase in our maintainace charge would follow. Its all new to us so we really do appreaciate the help.

[quiksilva]

Ok so it sounds like a typical "Moo Baan" type estate, there's not much you can do with respect to the ownership of the club house (unless it was partial ownership of this was mentioned in your contract, which I think is unlikely). If they own this property, then I'm sure they will only retain ownership to profit from it, this is a business to them after all.

However, if you can get 50% of all the villa owners together you could feasibly form a Juristic Moo Baan (residents association) and whilst you can not kick the developer out (they own the land after all) you will have a much better legal standing and thus more clout when it comes to negotiations and a legal right and responsibility to run the management of the estate.

However, its a complicated business and it will take a long time to get settled. Patience is needed, so be sure to get all your ducks in a row.

Step 1: Get 50% of your fellow co-owners on board and seek legal advice on how to establish the Juristic Entity.

[Bomonster]

Ok so it sounds like a typical "Moo Baan" type estate, there's not much you can do with respect to the ownership of the club house (unless it was partial ownership of this was mentioned in your contract, which I think is unlikely). If they own this property, then I'm sure they will only retain ownership to profit from it, this is a business to them after all.

However, if you can get 50% of all the villa owners together you could feasibly form a Juristic Moo Baan (residents association) and whilst you can not kick the developer out (they own the land after all) you will have a much better legal standing and thus more clout when it comes to negotiations and a legal right and responsibility to run the management of the estate.

However, its a complicated business and it will take a long time to get settled. Patience is needed, so be sure to get all your ducks in a row.

Step 1: Get 50% of your fellow co-owners on board and seek legal advice on how to establish the Juristic Entity.

thank you again, we will do that we have already got together and will do this

[quiksilva]

No problem, good luck

[WilliamJarvis]

it would also be interesting to look at the management company structure. In some Moo Bhaans, if you have a "sinking fund" participation you get partial ownership of the management company. It's not much in amount (as a % to total company ownership), but can add up to a lot in volume (i.e., number of shareholders).

Edited March 13, 2008 by WilliamJarvis

[bob4you]

I am sure I have read instances where the developer later tore down the clubhouse and put another unit for sale on the plot.

[Bomonster]

I am sure I have read instances where the developer later tore down the clubhouse and put another unit for sale on the plot.

then we rip up the developer :-)