Auction For Houses In Jomtien

[Digger]

Looked through a friends copy of a brochure he picked up when he viewed a new development being auctioned of soon. He seemed quite keen on attending the auction and asked me to look over the brochure when I was down in Pattaya this weekend. The ads are everywhere so most Pattaya residents will likely know the place I am refering to.

Very well put together brochure and for the most part its in both Thai and English. I did notice however on the back of the brochure is some Thai text (no English translation) that refers to the fact that the land has not been subdivided and planning permission has not yet been granted. Furthermore, the owner of the land has registered capital of only 2,000,000 baht which for a 10 rai 20 odd house development seems rather low. Granted, this is consistent with the law in so far as they are stating it, but why only put it in Thai, when I assume most buyers would likely be farang. Rest of the brochure is in both English and Thai but the very important fact that the development has not been granted planning permission nor have they split the land to create new chanots left a sour taste for me.

Perhaps I am being paranoid but if anyone is thinking of going along and bidding, make sure you do your homework first - might be nothing wrong but another acquaintance of mine got scammed when he put money down for land that had not been subdivided and when the farang developer went to do it the local council said it could NOT be subdivided for housing as it was zoned for farming not housing. Not funny but he did not check first and took the developer at face value.

[Crazy Dave]

Got to admit i saw the adds, from the addys i assumed they were already built, i just couldnt understand why i hadnt seen this new estate when i only live at the other end of soi thepasit, then i saw the no low limit price on it, ie you bid 50,000baht for your house and swimming pool and nobody else bids it up, u end up with a nice house and swimming pool for 900 quid, then i thought if something sounds to good to be true then it aint true, we shall see...

[krider]

if this is for the auction of the new houses in jomtien, on the 15th, I too assumed they were built,

Thought though that the idea of a no reserve, no minumim bid was a bit silly unless they are all spectacular villas and then people would naturally bid high mmmm

Oh well, guess we will see

[monty]

2 or 3 demo houses are completely built up!

If the land is not subdivided yet, the buyers might be in for a nasty!

For some reason it seems to getting awfully difficult to divide land for developments like this.

Aquaintance of mine bought a big plot, only to be told it could not be divided, eventhough it is not zoned as farming land. He is surrounded by similar developments...

Be carefull!

[Digger]

Got to admit i saw the adds, from the addys i assumed they were already built, i just couldnt understand why i hadnt seen this new estate when i only live at the other end of soi thepasit, then i saw the no low limit price on it, ie you bid 50,000baht for your house and swimming pool and nobody else bids it up, u end up with a nice house and swimming pool for 900 quid, then i thought if something sounds to good to be true then it aint true, we shall see...

<{POST_SNAPBACK}>

Somehow I suspect that there will be multiple bidders who's role is to bid up all the prices. Entry is restriced only to people who have pre-registered and show either cash or cashiers cheque for 250,000 baht instant deposit and there is also a little clause saying the auctioneers reserve the right to exclude anyone from the auction that they choose. Thats all in the brochure, in English. Cant help but agree though with your latter statement.

[astral]

Sounds very dodgy.

Unless the land is already divided, how can you purchase title to the land?

Or is it leasehold deal specially for farangs?

[ticklemyfancy]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

[Digger]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

The quality of the building is not in question and the brochure looks very well put together. The point is that the land has not been split - any lawyer would advise against purchasing as part of their due dilligence process. Also why only in Thai when the developer or front man is a farang and the rest of the brochure is in Thai and English. Sounds like too much missed out to me, but as always in Thailand its a case of buyer beware and doing their homework. Might well be satisfactory answers but its very easy to get caught up in the heat of an auction and overlook little things like who is going to own the land and how is it being split/sold.

Anybody with common sence and money is already asking these questions - my friend as an example has decided not to bother even attending after he spoke to his lawyer in BKK this morning and he can well afford a 20,000,000 baht property. He is not even interested in assurances to split the land, he is only prepared to buy somewhere that is already split and with correct planning permission granted. So hardly out of his league - perhaps he is a bit too smart which is why I have never seen him scammed as he does his homework and asks friends and professionals their opinions.

[ticklemyfancy]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

The quality of the building is not in question and the brochure looks very well put together. The point is that the land has not been split - any lawyer would advise against purchasing as part of their due dilligence process. Also why only in Thai when the developer or front man is a farang and the rest of the brochure is in Thai and English. Sounds like too much missed out to me, but as always in Thailand its a case of buyer beware and doing their homework. Might well be satisfactory answers but its very easy to get caught up in the heat of an auction and overlook little things like who is going to own the land and how is it being split/sold.

Anybody with common sence and money is already asking these questions - my friend as an example has decided not to bother even attending after he spoke to his lawyer in BKK this morning and he can well afford a 20,000,000 baht property. He is not even interested in assurances to split the land, he is only prepared to buy somewhere that is already split and with correct planning permission granted. So hardly out of his league - perhaps he is a bit too smart which is why I have never seen him scammed as he does his homework and asks friends and professionals their opinions.

<{POST_SNAPBACK}>

furry muff, lawyers and especially ones from bangkok are just there to get the fee! I once asked a lawyer if he was really bothered about anyone doing anything or acting on his information, the answer was no as long as I get my fee im happy, I give my opinion but not really concerned what people do after they have seen me...and this one works in England and is very reputable.

Your friend who can easily afford 20mil his lawyer in bkk would rather he keeps his money for one of his(the lawyers) projects or somewhere where he could get a real kick back out of it! not an auction where he may pick up a bargain! or simply just keep his money and pay the fee every time he looks at a prospective deal or purchase and gets the lawyer involved(remember if they were that good businessmen they wouldn't be lawyers!)

if it wasn't for the developer or front man as you like to put it and people like him in this town then there would be no progression, sounds okay to some people but I bet those same like the easiness of an English fry up or to be able to get HP sauce the list is endless!

also I am sure if you were in the market for the auction and visited, called or emailed the front man with your astute question there would be an explanation, like maybe at the time of print these things had not been done, or have a bloke whos ready to take a bung at city hall!

[astral]

Fools and their money are soon parted.

[ticklemyfancy]

Fools and their money are soon parted.

<{POST_SNAPBACK}>

say goodbye to your money then mate, if you haven't already

[Phil Conners]

It almost looks like tickemyfancy has an interest in the project

[ticklemyfancy]

It almost looks like tickemyfancy has an interest in the project

<{POST_SNAPBACK}>

quite the opposite me old china, just an interest in Pattaya/Jomtien being a better than average place!

lets face it theres far too many knockers over here both on these forums and in the go-go's

my point is if it weren't for these kind of projects-ventures whatever you like to call them this place would be rather backward, its not as if the Thai people have the skill, motivation or know how to get things off the ground, thats not a dig at the Thai's just a point of view before you all start, they are good workers when you get the right team and can produce quality but must be supervised, in this town the likes of View Talay condo and Ekmongkol are not exactly innovative are they eh! and they're better than most other examples

[Crazy Dave]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

I feel that most people would want title deeds to the land and house they buy, as the land hasnt been divided, which i might add costs 3,500baht per plot and there office is at soi 17 right next to soi thepasit and it takes 4 weeks for them to come and put the concrete poles in, i really cannot see why this has not already been done.

Also if you use city hall to draw up the plans for the houses, they are obviously passed and you can start building from the first day you approach them and tell them the design you want and pay the inital deposit, plans for a 4 story 6 bedroom 7 bathroom house with permits etc cost 35,000baht, ok you could use your own architech etc but that will still be over 10,000baht and you will not be allowed to start until the plans are passed by city hall which will generally involve many visits over a few months before you get your building permit to start, and then they will probably keep sending inspectors down to hassle the building process...

[ticklemyfancy]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

I feel that most people would want title deeds to the land and house they buy, as the land hasnt been divided, which i might add costs 3,500baht per plot and there office is at soi 17 right next to soi thepasit and it takes 4 weeks for them to come and put the concrete poles in, i really cannot see why this has not already been done.

Also if you use city hall to draw up the plans for the houses, they are obviously passed and you can start building from the first day you approach them and tell them the design you want and pay the inital deposit, plans for a 4 story 6 bedroom 7 bathroom house with permits etc cost 35,000baht, ok you could use your own architech etc but that will still be over 10,000baht and you will not be allowed to start until the plans are passed by city hall which will generally involve many visits over a few months before you get your building permit to start, and then they will probably keep sending inspectors down to hassle the building process...

<{POST_SNAPBACK}>

what if you know a bloke, who knows a bloke, who knows a bloke?

do you really bother with the above or just get on with the important thing for now, sell the buggers and hope they all sell!

this ain't like buying a gogo bar or even auctioning for one, oh and by the way theres progress payments, so like I wrote you sell them first and whilst you are waiting for the money to be transferred you get all the paper work in place.

very impressed with your knowledge with city hall and the land office, im building a house next year might just pm you for some knowledge and advice crazy dave

[Crazy Dave]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

I feel that most people would want title deeds to the land and house they buy, as the land hasnt been divided, which i might add costs 3,500baht per plot and there office is at soi 17 right next to soi thepasit and it takes 4 weeks for them to come and put the concrete poles in, i really cannot see why this has not already been done.

Also if you use city hall to draw up the plans for the houses, they are obviously passed and you can start building from the first day you approach them and tell them the design you want and pay the inital deposit, plans for a 4 story 6 bedroom 7 bathroom house with permits etc cost 35,000baht, ok you could use your own architech etc but that will still be over 10,000baht and you will not be allowed to start until the plans are passed by city hall which will generally involve many visits over a few months before you get your building permit to start, and then they will probably keep sending inspectors down to hassle the building process...

<{POST_SNAPBACK}>

what if you know a bloke, who knows a bloke, who knows a bloke?

do you really bother with the above or just get on with the important thing for now, sell the buggers and hope they all sell!

<{POST_SNAPBACK}>

I am that bloke that knows the guys at city hall

If the land isnt sub divided all they are selling is a promise.

normally, if you are building a small village you would sub divide a couple of plots and sell them off built, this is to avoid tax, every few months you would subdivide a couple more plots, now why would a company that from what you are saying are selling 20,000,000baht houses would even try to evade the tax? thats the only reason i can see for not subdividing, and if a company is willing to evade tax what other things are they willing to do that maybe technically wrong under the present laws?

[Digger]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

I feel that most people would want title deeds to the land and house they buy, as the land hasnt been divided, which i might add costs 3,500baht per plot and there office is at soi 17 right next to soi thepasit and it takes 4 weeks for them to come and put the concrete poles in, i really cannot see why this has not already been done.

Also if you use city hall to draw up the plans for the houses, they are obviously passed and you can start building from the first day you approach them and tell them the design you want and pay the inital deposit, plans for a 4 story 6 bedroom 7 bathroom house with permits etc cost 35,000baht, ok you could use your own architech etc but that will still be over 10,000baht and you will not be allowed to start until the plans are passed by city hall which will generally involve many visits over a few months before you get your building permit to start, and then they will probably keep sending inspectors down to hassle the building process...

<{POST_SNAPBACK}>

what if you know a bloke, who knows a bloke, who knows a bloke?

do you really bother with the above or just get on with the important thing for now, sell the buggers and hope they all sell!

<{POST_SNAPBACK}>

I am that bloke that knows the guys at city hall

If the land isnt sub divided all they are selling is a promise.

normally, if you are building a small village you would sub divide a couple of plots and sell them off built, this is to avoid tax, every few months you would subdivide a couple more plots, now why would a company that from what you are saying are selling 20,000,000baht houses would even try to evade the tax? thats the only reason i can see for not subdividing, and if a company is willing to evade tax what other things are they willing to do that maybe technically wrong under the present laws?

<{POST_SNAPBACK}>

I think you summed it up very well Dave - Too many loose ends and when your talking about substantial amounts of cash payable to a person who could flit off at any time, your taking a big risk.

[Digger]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

I feel that most people would want title deeds to the land and house they buy, as the land hasnt been divided, which i might add costs 3,500baht per plot and there office is at soi 17 right next to soi thepasit and it takes 4 weeks for them to come and put the concrete poles in, i really cannot see why this has not already been done.

Also if you use city hall to draw up the plans for the houses, they are obviously passed and you can start building from the first day you approach them and tell them the design you want and pay the inital deposit, plans for a 4 story 6 bedroom 7 bathroom house with permits etc cost 35,000baht, ok you could use your own architech etc but that will still be over 10,000baht and you will not be allowed to start until the plans are passed by city hall which will generally involve many visits over a few months before you get your building permit to start, and then they will probably keep sending inspectors down to hassle the building process...

<{POST_SNAPBACK}>

what if you know a bloke, who knows a bloke, who knows a bloke?

do you really bother with the above or just get on with the important thing for now, sell the buggers and hope they all sell!

this ain't like buying a gogo bar or even auctioning for one, oh and by the way theres progress payments, so like I wrote you sell them first and whilst you are waiting for the money to be transferred you get all the paper work in place.

very impressed with your knowledge with city hall and the land office, im building a house next year might just pm you for some knowledge and advice crazy dave

<{POST_SNAPBACK}>

My experience of blokes who know blokes who know blokes has invariably ended up with nothing being delivered except broken promises. Too many clowns in this country think they now important people and then nothing happens. Now that is not a negative comment on the developer of this project. For all I now he could well be an honourable guy that will deliver on what he is intending to do. However what happens if he does not or cannot for any reason. Your the sucker left to pay. Too big a risk in my book. Had this been a major developer like Raimon Land or Land & House, I would feel more comfortable but they are not exactly in the premier league of developers.

[dr_Pat_Pong]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

Dunno about coming from a short time bar, but I reckon he'll only be here a short time with his attitude.

[ticklemyfancy]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

I feel that most people would want title deeds to the land and house they buy, as the land hasnt been divided, which i might add costs 3,500baht per plot and there office is at soi 17 right next to soi thepasit and it takes 4 weeks for them to come and put the concrete poles in, i really cannot see why this has not already been done.

Also if you use city hall to draw up the plans for the houses, they are obviously passed and you can start building from the first day you approach them and tell them the design you want and pay the inital deposit, plans for a 4 story 6 bedroom 7 bathroom house with permits etc cost 35,000baht, ok you could use your own architech etc but that will still be over 10,000baht and you will not be allowed to start until the plans are passed by city hall which will generally involve many visits over a few months before you get your building permit to start, and then they will probably keep sending inspectors down to hassle the building process...

<{POST_SNAPBACK}>

what if you know a bloke, who knows a bloke, who knows a bloke?

do you really bother with the above or just get on with the important thing for now, sell the buggers and hope they all sell!

<{POST_SNAPBACK}>

I am that bloke that knows the guys at city hall

If the land isnt sub divided all they are selling is a promise.

normally, if you are building a small village you would sub divide a couple of plots and sell them off built, this is to avoid tax, every few months you would subdivide a couple more plots, now why would a company that from what you are saying are selling 20,000,000baht houses would even try to evade the tax? thats the only reason i can see for not subdividing, and if a company is willing to evade tax what other things are they willing to do that maybe technically wrong under the present laws?

<{POST_SNAPBACK}>

I think you summed it up very well Dave - Too many loose ends and when your talking about substantial amounts of cash payable to a person who could flit off at any time, your taking a big risk.

<{POST_SNAPBACK}>

well digger don't go to the auction me old son, stay in your flybird condo and ponder on whats happening this sunday at 2pm!

or have you gone up market and moved to nirun grandville

[ticklemyfancy]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

Dunno about coming from a short time bar, but I reckon he'll only be here a short time with his attitude.

<{POST_SNAPBACK}>

not fishing for a bite are we doc

I have a positive attitude and really don't know what I have done to you, or is it your time of the month

[expatgaz]

I live in Jomtien and recieved an invitation to go to this auction, as iam always on the look out for "high end" property.After investigating i have opted not to go, rightly or wrongly that is my decision.There is to much in this project that is up in the air at present.Maybe it will prove to be a success with bargains to be had, maybe not. Keep your money in your pocket on this one is my advice.Tickle it sounds to me that your the spin doctor on this one.

[ticklemyfancy]

I live in Jomtien and recieved an invitation to go to this auction, as iam always on the look out for "high end" property.After investigating i have opted not to go, rightly or wrongly that is my decision.There is to much in this project that is up in the air at present.Maybe it will prove to be a success with bargains to be had, maybe not. Keep your money in your pocket on this one is my advice.Tickle it sounds to me that your the spin doctor on this one.

<{POST_SNAPBACK}>

sorry to dissapoint you gazza but I am most certainly not the spin doctor, you keep your money in your pocket mate, as I wrote earlier if you don't like the sound of it don't go!

i'll be there and am up for a bargain, won't be taking the missus though!

[expatgaz]

I live in Jomtien and recieved an invitation to go to this auction, as iam always on the look out for "high end" property.After investigating i have opted not to go, rightly or wrongly that is my decision.There is to much in this project that is up in the air at present.Maybe it will prove to be a success with bargains to be had, maybe not. Keep your money in your pocket on this one is my advice.Tickle it sounds to me that your the spin doctor on this one.

<{POST_SNAPBACK}>

sorry to dissapoint you gazza but I am most certainly not the spin doctor, you keep your money in your pocket mate, as I wrote earlier if you don't like the sound of it don't go!

i'll be there and am up for a bargain, won't be taking the missus though!

<{POST_SNAPBACK}>

Good luck, let me know how it goes.

[Digger]

what to you guys on here does not sound dodgy???

take a look at the quality of them and then comment eh!

well out of your "league of gentlemen"

<{POST_SNAPBACK}>

I feel that most people would want title deeds to the land and house they buy, as the land hasnt been divided, which i might add costs 3,500baht per plot and there office is at soi 17 right next to soi thepasit and it takes 4 weeks for them to come and put the concrete poles in, i really cannot see why this has not already been done.

Also if you use city hall to draw up the plans for the houses, they are obviously passed and you can start building from the first day you approach them and tell them the design you want and pay the inital deposit, plans for a 4 story 6 bedroom 7 bathroom house with permits etc cost 35,000baht, ok you could use your own architech etc but that will still be over 10,000baht and you will not be allowed to start until the plans are passed by city hall which will generally involve many visits over a few months before you get your building permit to start, and then they will probably keep sending inspectors down to hassle the building process...

<{POST_SNAPBACK}>

what if you know a bloke, who knows a bloke, who knows a bloke?

do you really bother with the above or just get on with the important thing for now, sell the buggers and hope they all sell!

<{POST_SNAPBACK}>

I am that bloke that knows the guys at city hall

If the land isnt sub divided all they are selling is a promise.

normally, if you are building a small village you would sub divide a couple of plots and sell them off built, this is to avoid tax, every few months you would subdivide a couple more plots, now why would a company that from what you are saying are selling 20,000,000baht houses would even try to evade the tax? thats the only reason i can see for not subdividing, and if a company is willing to evade tax what other things are they willing to do that maybe technically wrong under the present laws?

<{POST_SNAPBACK}>

I think you summed it up very well Dave - Too many loose ends and when your talking about substantial amounts of cash payable to a person who could flit off at any time, your taking a big risk.

<{POST_SNAPBACK}>

well digger don't go to the auction me old son, stay in your flybird condo and ponder on whats happening this sunday at 2pm!

or have you gone up market and moved to nirun grandville

<{POST_SNAPBACK}>

Sure I will not be there as I am spending the weekend on a friends boat in Phuket. Sorry I have never heard of Nirun Grandville but sounds like you clearly know it.

Let us all know how it goes if your going.

[Pattaya City News]

Just to let you guys know, I was at the auction today and a total of 14 units were auctioned (a further 7 are subject to a private auction with reserve prices based on the other 14 units sold). A total of 118.6 million baht was raised for the 14 units and there were certainly bargains to be had. I was only there to observe not to buy, but just from my observations it appeared to be a well organised auction and may well prompt further auctions in the future. Only time will tell if this particular auction is declared a success by the organizers.

[Digger]

Just to let you guys know, I was at the auction today and a total of 14 units were auctioned (a further 7 are subject to a private auction with reserve prices based on the other 14 units sold). A total of 118.6 million baht was raised for the 14 units and there were certainly bargains to be had. I was only there to observe not to buy, but just from my observations it appeared to be a well organised auction and may well prompt further auctions in the future. Only time will tell if this particular auction is declared a success by the organizers.

<{POST_SNAPBACK}>

Thanks Howard - Any comment about the splitting of land etc from the organisers? Sounds like a moderate success considering that they were originally planning on auctioning 21 houses - presume the prices were not as high as they were expecting hence the last 7 were withdrawn.

[Crazy Dave]

so , the figure bandied about on this forum was 20 million baht houses, but these houses which most havent been built yet have sold for 8 and a half million baht each, i would love to know how to build a 20 million baht house for less than 9 million baht, any advice would be gratefully appreciated

[Digger]

so , the figure bandied about on this forum was 20 million baht houses, but these houses which most havent been built yet have sold for 8 and a half million baht each, i would love to know how to build a 20 million baht house for less than 9 million baht, any advice would be gratefully appreciated

<{POST_SNAPBACK}>

Dave the comment about 20,000,000 baht was not what these would sell for but what my firends who went to look at them is prepared and capable of spending. Also, the View talay villas across the street are on the market for around 18,000,000 for larger houses on bigger plots. That was part of the problem - nobody seems to have a clue what their worth. I suspect that have achieved a satisfactory price but not as much as they were hoping for. Based on what I have seen, these houses should typically cost to build, around 3-4,000,000 baht including the fittings but excluding the land(dependant upon size of house). So including the land and profit, a price of an average 8,500,000 seems about right. Uncertainty still remains at what exactly the buyers have bought considering there are currently no land titles. But getting 60,000,000 in the bank (30% down payment) is a very nice position to be in.

[eljeque]

I took a peek at the houses as well. And, although they were very attractive, and far better designed in simple layout that the other houses I have seen, there were a couple of concerns.

First, let me say that the places were beautiful. I do not think that I have seen more attractive houses in Pattaya. A real garage.....wow!!!!

Second......

1. The enourmous amount of glass in the doors and windows were beautiful on a cool December day, but what happens when March rolls in? Those doors, which are the entire length of the front and dining rooms are going to be shut and the owner will loose that wonderful outdoor atmosphere..... and still receive the outdoor heat. Double pained windows and doors would have been a good idea.

The window-wall in the master bedroom of the 2-bedroom home would become a heat box in the hot season.

2. The tiles between the pool and the house are not skid-proof, and would be a danger. Also, they will reflect a lot of afternoon light and heat in through the tinted-glass doors to the living and dining rooms.

Third........

Again, they were really beautiful, yet I do wonder about the idea of auctioning off something that will be done in the future. As this MGI Global Auctions has been around Pattaya for a little while, and in Bangkok for a bit longer, I would bet that people would end up with their houses completed, yet a few government land office fees might arise.