Beware Property Scams In Pattaya

[stoffel45]

I just read a post of someone looking for a lawyer to assist in the purchase of a property in Pattaya.

First - ask your embassy or consular representative if they have a list of names of attorneys in Pattaya. Then try the chambers of commerce.

Don't use 'someone I met in a pub'.

Beware anyone who offers "zero interest" or "interest free" purchases. It is not only Thais who have 'pop up fins !' This is an old scam from one who is a true and trusted friend ! (yeah - right)

They'll tell you that they are politically well connected. Buddies of all the "Names".

They will ask you to pay in cash - just so you can get a special special deal. (and it is - you lose everything and end up with a debt)

1. NEVER pay in cash (notes).

2. Always ask for a receipt.

3. Always work with a bill of sale which should be witnessed.

If you form a Thai company - DO NOT try the old nonsense about getting the Thai shareholders to sign an undated, blank share transfer form. Not only is it useless (think about it !) it means you have brought a nominee company into being - and that - is a criminal offence.

It's not going to be long before the casinos are roaring in Pattaya. (Who's the Mayor's Dad?)

That means a gold rush - and that means - even when the Thai economy is in tatters (just a matter of time) - Pattaya's properties will be going up. Or at worst - not going down so fast.

Caveat emptor - Caveat emptor !

Trust no one.

Stoffel 45

[LaoPo]

It's not going to be long before the casinos are roaring in Pattaya. (Who's the Mayor's Dad?)

That means a gold rush - and that means - even when the Thai economy is in tatters (just a matter of time) - Pattaya's properties will be going up. Or at worst - not going down so fast.

Hmmm..I don't know. All the big casino operators are already in Macau and Singapore is opening up also I understand.

Those companies invested Billions of $'s within a short distance of Thailand and the infra structure and mega 5* hotels is a different cookie than Pattaya.

Where would Pattaya draw the audience/players from ?

Macau, and S'pore as well attract millions of Chinese gamblers and I doubt if they are willing to fly to Thailand; why would they ?

LaoPo

[pluto_manibo]

I think they would have a good domestic market. A lot of locals and Bangkok people would gamble within Thailand instead of heading for the Cambodian border.

[cloudhopper]

Some good points S45. Many of the farangs doing business in Pattaya are far dodgier than the natives.

This topic should be moved to the RE forum...