Warning on new condo

[JeffreyMcCollum]

About 44 months ago I place a deposit on 2 condos a new condo development near the Airport. I was the second purchaser

I have waited quietly and patiently for my units though they have been delayed over and over again.

Today with no warning I received notice that they were terminating my contracts.

I heard they think they can sell them again and make more profit.

As a note; does anyone know a good Lawyer that deals with condo issues in Chiang Mai ??

Edited September 8, 2011 by sbk
no name and shame

[ShopBoy]

For what reasons they are terminating your contract ?

[femi fan]

Learn your lesson and move on. Paying for something that does not exist in a developing nation is not always the best way to go.

And how come you needed two condos to live in?

If you were in it for the business, then it's a dog eat world, the business world, so there should be no surprise.

[Gonzo the Face]

Learn your lesson and move on. Paying for something that does not exist in a developing nation is not always the best way to go.

And how come you needed two condos to live in?

If you were in it for the business, then it's a dog eat world, the business world, so there should be no surprise.

I don't agree with your premise femi fan, but you have a right to your opinion.

The fact that the OP is now looking for a good lawyer might indicate that he did not have an attorney going into this agreement. In a foreign country, I would think that would be a must, at least for me.

OP you did leave quite a bit out of your post.....are they offering you your money back? ..... as I presume you are an English speaker, was there a contract in English or did you have a translation done before signing???

WEre there any clauses that would allow the developer to cancel the contract within a period of time and giving full refund....

Maybe some additional information would help us to further understand, if you choose to offer it

In any event good luck and hope you are able to salvage your deposit at least.

:jap:

[JeffreyMcCollum]

For what reasons they are terminating your contract ?

I purchased each unit at 1.5m Bt. Being the second buyer 44 month ago they are IMO the best units avalable

Rumor has it they think now they can sell them for 3m Bt each

[JeffreyMcCollum]

Learn your lesson and move on. Paying for something that does not exist in a developing nation is not always the best way to go.

And how come you needed two condos to live in?

If you were in it for the business, then it's a dog eat world, the business world, so there should be no surprise.

Learn my lesson and move on, oh, , , , NO

II had a unit in this companies first project and made a good profit.

I invest in condos, that I can hold in my name and make a good return on my investment.

1 was to live in and 1 was to rent out for income.

My post was more as a warning to help others who might consider buying there.

I do know the law is on my side, and I wound just roll over and run, poor me I am a farang !

[JeffreyMcCollum]

I don't agree with your premise femi fan, but you have a right to your opinion.

The fact that the OP is now looking for a good lawyer might indicate that he did not have an attorney going into this agreement. In a foreign country, I would think that would be a must, at least for me.

OP you did leave quite a bit out of your post.....are they offering you your money back? Not as of yet, but if they did I still most likely would not accept it.....

as I presume you are an English speaker, was there a contract in English or did you have a translation done before signing??? Under the Thai Condominimum act of 1998 ( artical 2) The contract must be in English and is. All contract are govern and regulated by the Consumer protection board.

WEre there any clauses that would allow the developer to cancel the contract within a period of time and giving full refund.... Under the law, not as they are doing, and not at this late place in time.

Maybe some additional information would help us to further understand, if you choose to offer it

In any event good luck and hope you are able to salvage your deposit at least.

:jap:

[cmsally]

You could try posting on Prakard.com

It is very useful for anything to do with condos.

Even though there is not much in English or out side Bangkok;

if you post something you might find others in a similar situation.

[JeffreyMcCollum]

You could try posting on Prakard.com

It is very useful for anything to do with condos.

Even though there is not much in English or out side Bangkok;

if you post something you might find others in a similar situation.

Thanks, more than anything I just want to get the word out. I will try that

[WarpSpeed]

Sounds like a raw deal all around, they are trying to stiff you on your deposit or full payment too? What on earth would make them think the can get away with that? They took your money and used it to move their project forward all the time putting you off and now they see a golden egg and think they'll muscle you out? I'm in your corner "walk away" No way! Stand tall and take on these b'stards that other approach is WHY these SOB's think they can get away with this type of thing in the first place!!

Edited September 8, 2011 by WarpSpeed

[Asmerom]

Thanks, more than anything I just want to get the word out. I will try that

"My post was more as a warning to help others who might consider buying there".

If that was what your post was about how is "identifying" the place in such vague terms as "a new condo development near the Airport" going to be very much help? All very odd.

[CMSteve]

His original post was very specific as to who and where. but it was edited out due to board rules. You can clearly see that it was edited by an admin and why it was edited if you take a moment to read the OP.

Thanks, more than anything I just want to get the word out. I will try that

"My post was more as a warning to help others who might consider buying there".

If that was what your post was about how is "identifying" the place in such vague terms as "a new condo development near the Airport" going to be very much help? All very odd.

[Asmerom]

His original post was very specific as to who and where. but it was edited out due to board rules. You can clearly see that it was edited by an admin and why it was edited if you take a moment to read the OP.

"Board Rules"; Yes, now I see the edit you kindly point out. My apologies to the OP for accusing him of being vague when his excessive clarity had clearly been excised as shown in the edit box which my careless reading of the post had missed.

[chiangmaibruce]

At the end of the day, and if all else fails, seek inspiration in Al's speech

[TexasRanger]

Thieving scum. I hope you get everything back. Good luck.

[hellodolly]

Well as the rules state no name and shame.

That being the case why is the post here at all.

The editor is just placing shame on any condo project in the area. The way it has been edited is nothing short of a platform for Thai bashing.

That being said How much did the OP put down for a deposit. To wait and be put of for 44 months and be OK with out getting the money back is a strange idea from my point of view. Surely there must have been some indications that all was not well with the project. I would want the money back.

The way the post has been edited there is no specific message.

From reading all his posts I can see that he feels the same way. He has indicated that he has had very profitable dealings with others.

Sorry SBK but I feel that accusations such as the poster has made should not be allowed to be put on to every developer. At times specific details are needed or you lose the message.

Edited September 8, 2011 by hellodolly

[sbk]

And we will turn over any and all details when a criminal defamation suit is filed. Thanks but no thanks, we have these rules for a reason. We prefer not to get embroiled in criminal lawsuits. cheers.

[elektrified]

Speculating on real estate in a country like Thailand is foolish for foreigners. Renting is the only way.

[sfokevin]

I would agree with the Moderator... I would go farther and say these kind of one sided warning attack posts should not be allowed...

As with any divorce there are two sides...

I notice the OP still has not answered the question posed to him in post #2:

"For what reasons they are terminating your contract ?"

I would also like some elaboration of what poor farang means by "waited quietly and patiently"...

Does this include living up to all his contractual agreement such as paying his installments in a timely fashion?

Edited September 8, 2011 by sfokevin

[JeffreyMcCollum]

I would agree with the Moderator... I would go farther and say these kind of one sided attack posts should not be allowed...

This was not an attack. It simply was warning other so that they may not be in the same situation as I

As with any divorce there are two sides... yes this is true

I notice the OP has not answered the question in post #2 "For what reasons they are terminating your contract ?" In my notice ther was no reason given. Talking to workers there, I understand, but can only go on what they told me, that they think they can make more profit on the units than I paid. This was clearly posted

I would also like some elaboration of what the OP means by "waited quietly and patiently"... I was told it would take 18 months to build. It is now going on 44 months and I think by the time it is ready it will be about 4 year. I have waited when dozens of others left, because I like the Mae Hia area, and it is the only condo project in Mae Hia Period. I would visit the project every few months, when I lived away. for the last 20 months, I have rented a room near by waiting. I know I got a good deal, buying on the first day they were offered for sale. How many would wait that long for their home to be built ?

Does this include living up to all his contractual agreement such as paying his installments in a timely fashion? I paid my down in 1 lump sum, years ago. I was always reasured everything was OK and moving forward. as things got nearer to completion, I would stop by to check most days as I think any normal person wouild

Seems like some people are trying to make me the bad guy. Just trying to warn others. Let's hope this does not happen to you

[JeffreyMcCollum]

I find it funny when someone gets over charged for their 30 Baht fried rice they can name and shame. Or when it is bad service somewhere. they can speak, However when I and taken of my 3 million investmet, It is a 1 sided attact and should not be allowed ???

I'm sorry, I thought this was a forum to inform and help others

[sfokevin]

I find it funny when someone gets over charged for their 30 Baht fried rice they can name and shame. Or when it is bad service somewhere. they can speak, However when I and taken of my 3 million investmet, It is a 1 sided attact and should not be allowed ???

I'm sorry, I thought this was a forum to inform and help others

My issue is that you are not giving us facts but your filtered opinion of the events...

For instance - In you initial post you say "I place a deposit on 2 condos"... Now you say you have lost the total 3 million?... Which is it? Has there been installments due?... Have you been patiently paying these over the 44 months and all paid up?

And your saying that you got a notice that just said "Contract Canceled" and nothing else?

And then the first place you went to for clarification was some guys on the site schlepping bricks?...

[ThaiPauly]

I know of only one condo project going up in the Mae Hia area

I live there, so I am sure I know the one you mean, and yes it seems to be taking forever to build.

I'm sure most other TV users who live here will also be able to deduce it, so no need to specically name it.

But unless I missed it "Did you or are you getting your deposit back"? or are they promissing you your money back, you should surely be able to go after them for the interest, if what you were told was true, or maybe its because they just can't sell them and are putting the project in mothballs, lot of condos for sale in town, and this one is quite a way out.

I brought a condo off plan 6 years ago in BK that was never completed, but I put a clause in the contract that if it was not built within 2 years I would get my depoit back plus interest. I got my money back, but via post-dated cheques, others were not so lucky from what I could deduce from Prackard

It's still not finished But that was because of financial problems , not because the company were profiteering as seems to be the case here

[jaapfries]

Hi; you DO need a very strong and reputable lawyer to jump into this matter quickly and thoroughly.

If you PM me I'll introduce you to one such man who is extremely well connected in the highest echelons of Thai Society (and this will prove crucial ! !).

Don't delay; get active NOW ! !

Cheers,

JaapFries

[Lizard2010]

I would agree with the Moderator... I would go farther and say these kind of one sided attack posts should not be allowed...

This was not an attack. It simply was warning other so that they may not be in the same situation as I

As with any divorce there are two sides... yes this is true

I notice the OP has not answered the question in post #2 "For what reasons they are terminating your contract ?" In my notice ther was no reason given. Talking to workers there, I understand, but can only go on what they told me, that they think they can make more profit on the units than I paid. This was clearly posted

I would also like some elaboration of what the OP means by "waited quietly and patiently"... I was told it would take 18 months to build. It is now going on 44 months and I think by the time it is ready it will be about 4 year. I have waited when dozens of others left, because I like the Mae Hia area, and it is the only condo project in Mae Hia Period. I would visit the project every few months, when I lived away. for the last 20 months, I have rented a room near by waiting. I know I got a good deal, buying on the first day they were offered for sale. How many would wait that long for their home to be built ?

Does this include living up to all his contractual agreement such as paying his installments in a timely fashion? I paid my down in 1 lump sum, years ago. I was always reasured everything was OK and moving forward. as things got nearer to completion, I would stop by to check most days as I think any normal person wouild

Seems like some people are trying to make me the bad guy. Just trying to warn others. Let's hope this does not happen to you

No you are not the bad guy.

You are just unfortunate that you got caught up in the Condos at the wrong time.

With the Global Financial Crisis.

Hope all works out well for you.

Keep us informed.

It will help others for future buying.

[JeffreyMcCollum]

My issue is that you are not giving us facts but your filtered opinion of the events...

For instance - In you initial post you say "I place a deposit on 2 condos"... Now you say you have lost the total 3 million?... Which is it? Has there been installments due?... Have you been patiently paying these over the 44 months and all paid up?

And your saying that you got a notice that just said "Contract Canceled" and nothing else?

And then the first place you went to for clarification was some guys on the site schlepping bricks?...

Good grief ...

at the facts of the purchase of 2 condos over the corse of about 44 months. hundreds of E-mails, 1405 photos, and no less than 600 visits to the job site ???

Some things just nned to be reduced to a simple line or two to Alert others.

Under the Condominimum Act (artical 2) payemnts unider law can not be for 44 months on a purchase to buy.contract. My payment, after a reservation fee and contract signing fee was in 1 lump payment as I have stated before. As I have said before, I don't like monthly payment on anything and never have had any in my life/

My deposit was for about roughly 1/3 the price that yes I rounded down. And yes I think I could resale the units quickly for much more than I paid. If you do need the exact numbers down to the last baht, please PM me and I will give you the boreing numbers

The Notice of cancelation was in poor english and only a line or tow, It did give my address but I did not really want to give that on the forum.

And NO, TV was not the first place I tured, I went to the Mae hia government office, than the Chiang Mai land office, then the main land office in BKK then over to the Consumer protection board in BKK, After that I talked with a few experts in the feild.

It was my purpose to get the word out, and I am. This is just one of many places

[sfokevin]

Now I am more confused...

You started out with opinions from the construction workers on the site and alluded to us that the builder was nefariously reniging on your contract to steal away your profits...

Now you tell us you have been to a bunch Government offices for advise!... What did they say?

Is this a case of fraud or just the run of the mill condo goes bust... File under caveat emptor... ?

[CheGuava]

I find it funny when someone gets over charged for their 30 Baht fried rice they can name and shame. Or when it is bad service somewhere. they can speak, However when I and taken of my 3 million investmet, It is a 1 sided attact and should not be allowed ???

I'm sorry, I thought this was a forum to inform and help others

Hah!

I guess you know better now..

[cmsally]

Was there a time limit on end date of construction. All off plan purchases should have it in the contract and after time limit exceeded condo builder faces a fine which would be deducted off your final payment.

[CMSteve]

OP: I think you've done your part.

Probably best to stop this thread completely. The most you're going to get out of keeping this thread going is a counter suit. Let all the nay sayers do what they want, keep quite and get to a lawyer.

Good Luck!

Edited September 9, 2011 by CMSteve