Developer/Owner Waterford Condominium

[nbg]

Have been looking in to Waterford Suk50. Have just heard something about the previous owner or current owner (sorry abit unclear here...) disappeared with "all the money"

Anyone heard of this story?

Now this developer has a few old and new projects and I thought they were ok.

[trogers]

If the reputation of the developer of this project is so good, wonder why the Suk50 project of 7 buildings have owners/occupants of less than 1.5 buildings? With so low an occupancy rate, who is footing the common fees needed to maintain the whole project? Or is the Sinking Fund being used up for this?

[nbg]

If the reputation of the developer of this project is so good, wonder why the Suk50 project of 7 buildings have owners/occupants of less than 1.5 buildings? With so low an occupancy rate, who is footing the common fees needed to maintain the whole project? Or is the Sinking Fund being used up for this?

I did not say they are good, on the website it says they have done 10 other projects so I thought it was a proper company. How do you find out about the occupancy rates for properties?

Im looking for a place to live in not as an investment/rent out/sell in a year etc. What I remember it was 4 buildings up and some occupied already.

[HampiK]

@ngb, i have same problem right now.

I am looking for condos as well right now. I also was interrested in Waterford Condominium. But there are so many projects which looks good.

Breeze would be very nice, but not possible to buy anything higher than 8 floor...

Right now i have found something.. which is new and the price is correct. But still check many other parts... But to know if the company is good... this also seems to be very difficult for me.

[trogers]

If the reputation of the developer of this project is so good, wonder why the Suk50 project of 7 buildings have owners/occupants of less than 1.5 buildings? With so low an occupancy rate, who is footing the common fees needed to maintain the whole project? Or is the Sinking Fund being used up for this?

I did not say they are good, on the website it says they have done 10 other projects so I thought it was a proper company. How do you find out about the occupancy rates for properties?

Im looking for a place to live in not as an investment/rent out/sell in a year etc. What I remember it was 4 buildings up and some occupied already.

Am owner of 3 units in Waterford Park Rama 4, which is a project that has sued the same developer for outstanding amount of Bt7-8m owed to the condo common fund. Have won the case against this developer in both High Court and Court of Appeals. Last hearing now is by the Supreme Court.

I can see the Suk50 project located at the rear of ours, and can see the number of lit units, and the number of lit buildings every night...

Add: Suk50 project has one legal problem. It does not own the whole road access from the project to Soi 50. Part of this access is on leased land from the Expressway (the portion directly under it).

Edited August 1, 2010 by trogers

[nbg]

If the reputation of the developer of this project is so good, wonder why the Suk50 project of 7 buildings have owners/occupants of less than 1.5 buildings? With so low an occupancy rate, who is footing the common fees needed to maintain the whole project? Or is the Sinking Fund being used up for this?

I did not say they are good, on the website it says they have done 10 other projects so I thought it was a proper company. How do you find out about the occupancy rates for properties?

Im looking for a place to live in not as an investment/rent out/sell in a year etc. What I remember it was 4 buildings up and some occupied already.

Am owner of 3 units in Waterford Park Rama 4, which is a project that has sued the same developer for outstanding amount of Bt7-8m owed to the condo common fund. Have won the case against this developer in both High Court and Court of Appeals. Last hearing now is by the Supreme Court.

I can see the Suk50 project located at the rear of ours, and can see the number of lit units, and the number of lit buildings every night...

How has this affected the Rama 4 building? Its been around for some time (1996)

This is probably where this is coming from, condo owners taking the developer to court. Is Waterford still under the same owner/management?

[trogers]

If the reputation of the developer of this project is so good, wonder why the Suk50 project of 7 buildings have owners/occupants of less than 1.5 buildings? With so low an occupancy rate, who is footing the common fees needed to maintain the whole project? Or is the Sinking Fund being used up for this?

I did not say they are good, on the website it says they have done 10 other projects so I thought it was a proper company. How do you find out about the occupancy rates for properties?

Im looking for a place to live in not as an investment/rent out/sell in a year etc. What I remember it was 4 buildings up and some occupied already.

Am owner of 3 units in Waterford Park Rama 4, which is a project that has sued the same developer for outstanding amount of Bt7-8m owed to the condo common fund. Have won the case against this developer in both High Court and Court of Appeals. Last hearing now is by the Supreme Court.

I can see the Suk50 project located at the rear of ours, and can see the number of lit units, and the number of lit buildings every night...

How has this affected the Rama 4 building? Its been around for some time (1996)

This is probably where this is coming from, condo owners taking the developer to court. Is Waterford still under the same owner/management?

The condo owners only managed to take control of the juristic office from the developer about 3 years ago, even though this project was completed in 1996. You can search Google on the dispute, and about the use of thugs etc...

I bought my first unit in Rama 4 only after the juristic office became independent of the developer's control.

Thus, my questions about who is footing the common fees in Suk50 still stands. Seems a possible repeat of the Rama 4 project. Who controls the fund, and approves and certifies the expenditure? Any owners' committee overseeing how funds are used, and whether the developer is paying his share of the common fees for units still not sold and transferred?

[nbg]

Am owner of 3 units in Waterford Park Rama 4, which is a project that has sued the same developer for outstanding amount of Bt7-8m owed to the condo common fund. Have won the case against this developer in both High Court and Court of Appeals. Last hearing now is by the Supreme Court.

I can see the Suk50 project located at the rear of ours, and can see the number of lit units, and the number of lit buildings every night...

How has this affected the Rama 4 building? Its been around for some time (1996)

This is probably where this is coming from, condo owners taking the developer to court. Is Waterford still under the same owner/management?

The condo owners only managed to take control of the juristic office from the developer about 3 years ago, even though this project was completed in 1996. You can search Google on the dispute, and about the use of thugs etc...

I bought my first unit in Rama 4 only after the juristic office became independent of the developer's control.

Thus, my questions about who is footing the common fees in Suk50 still stands. Seems a possible repeat of the Rama 4 project. Who controls the fund, and approves and certifies the expenditure? Any owners' committee overseeing how funds are used, and whether the developer is paying his share of the common fees for units still not sold and transferred?

I did read about the thugs etc. I don't know who manages it control funds etc or if it is the same owners/management as the Rama 4 project. I have only looked at Suk50 so far. Id like to ask these questions at the sales office but would I be able to get the truth...

[nbg]

Website says: Developer : V.P. Assets Co.,Ltd

Is that same as Rama 4 project?

[trogers]

Website says: Developer : V.P. Assets Co.,Ltd

Is that same as Rama 4 project?

Same people behind it.

[trogers]

I did read about the thugs etc. I don't know who manages it control funds etc or if it is the same owners/management as the Rama 4 project. I have only looked at Suk50 so far. Id like to ask these questions at the sales office but would I be able to get the truth...

You can add one more question at the sales office. Who owns the swimming pool and carpark space, since they are in the vicinity of the 4 blocks that the developer earmarked to lease out as serviced apartments (meaning these blocks are not classed and intended to be sold as condos). If these facilities belong to the 4 blocks, then the owners of the other 3 blocks have no recourse if privilege to use these facilities are withdrawn, while in the meantime, are common fees paid by existing owners being used to maintain these facilities?

[nbg]

I did read about the thugs etc. I don't know who manages it control funds etc or if it is the same owners/management as the Rama 4 project. I have only looked at Suk50 so far. Id like to ask these questions at the sales office but would I be able to get the truth...

You can add one more question at the sales office. Who owns the swimming pool and carpark space, since they are in the vicinity of the 4 blocks that the developer earmarked to lease out as serviced apartments (meaning these blocks are not classed and intended to be sold as condos). If these facilities belong to the 4 blocks, then the owners of the other 3 blocks have no recourse if privilege to use these facilities are withdrawn, while in the meantime, are common fees paid by existing owners being used to maintain these facilities?

Wonder if anyone get a fair answer from the sales office, the are SALES... If im correctly informed they have also changed the company handling the sales. If there is an owners committee they should have a clue.

Regarding the access way it is supposedly solved might be in this thread...http://www.prakard.com/default.aspx?g=posts&t=201857

Well lots of ??? marks still. May be better rent for a while and look for a resell bargain, in the market now there has to be some.

So who needs a good clean tenant, non smoker that works out of the country half the time?

Or anyone selling 2br 75+ m2 in a quiet area with green surroundings?

[trogers]

I did read about the thugs etc. I don't know who manages it control funds etc or if it is the same owners/management as the Rama 4 project. I have only looked at Suk50 so far. Id like to ask these questions at the sales office but would I be able to get the truth...

You can add one more question at the sales office. Who owns the swimming pool and carpark space, since they are in the vicinity of the 4 blocks that the developer earmarked to lease out as serviced apartments (meaning these blocks are not classed and intended to be sold as condos). If these facilities belong to the 4 blocks, then the owners of the other 3 blocks have no recourse if privilege to use these facilities are withdrawn, while in the meantime, are common fees paid by existing owners being used to maintain these facilities?

Wonder if anyone get a fair answer from the sales office, the are SALES... If im correctly informed they have also changed the company handling the sales. If there is an owners committee they should have a clue.

Regarding the access way it is supposedly solved might be in this thread...http://www.prakard.com/default.aspx?g=posts&t=201857

Well lots of ??? marks still. May be better rent for a while and look for a resell bargain, in the market now there has to be some.

So who needs a good clean tenant, non smoker that works out of the country half the time?

Or anyone selling 2br 75+ m2 in a quiet area with green surroundings?

My 2-br/1bath 72m2 unit in Waterford Rama 4 will be available end of Aug for 1 year lease. I am presently staying in it while renovating my own home.