Buy New Condo On Plan?

[swisstouristpattaya]

What tell me they have only a few condo available and I must book now?

What proof I have they will build what they promise ?

Seems to me they sell dreams that may never come true.

[travelmann]

and the name of the development? location? anything really would help

[GreenSnapper]

Why you must book?

Why you think you have any legal rights here?

[craigt3365]

Let's try this over in the Real Estate forum.

[Heng]

Buy from a developer that builds first or buy second hand. Sell before you bid typically means they simply can't afford to build it first.

[Darrel]

"What tell me they have only a few condo available and I must book now?"

All salesmen will say this, no matter what they are selling. Only an idiot would say "we've got loads to sell".

"What proof I have they will build what they promise ?"

None at all. Anyone who says otherwise is a fool or a liar.

"Seems to me they sell dreams that may never come true."

Yes.

By most accounts the bank guarantees are better now than they were just a handful of years ago, and today you probably wont lose your deposit if a developer goes under. You may have to wait ages to get it though.

[PattayaPhom]

Troll................close topic huh

[swisstouristpattaya]

No no troll...

Who is paying for swimming pool and jacuzzi and water Fontaine.?

If one stop to pay, what happen? Everybody will stop to pay and your nice swimming pool become green.

in pattaya it s crazy.mega project of 800 to over 1000 condo and tell us its all sold.mouahaha

Be careful 2012 will be a bloody bath. Make work your brain. They will not catch me with their nice video and glossy brochure.

[stgrhe]

By most accounts the bank guarantees are better now than they were just a handful of years ago, and today you probably wont lose your deposit if a developer goes under. You may have to wait ages to get it though.

A bank guarantee, or a guarantee from another reliable source, is only as good as the terms and conditions of the guarantee.

In many types of businesses one uses different guarantees for different tasks such as e.g.

- Advance payment guarantee: this guarantee is typically a full-value bond covering the advance payment made under the contract / agreement and is often progressively reduced if the advance payment is gradually offset against the progress payments

- Performance bond (guarantee): this guarantee is typically 10% of the total contract amount and is payable should the seller fail to perform its obligations under the contract

- Warranty guarantee: this guarantee is typically 5% of the total contract amount and expires only after the expire of the warranty period. Its purpose is to ensure that the seller honors its warranty obligations

An alternative, or compliment, to guarantees is to use an escrow account.

Remember the golden rule in business: Don't pay anything for nothing!

[swisstouristpattaya]

Yeah why they don't build first then sell? If their project is so great and they sell so fast, they will not have problem to borrow money from a bank!

[Darrel]

Who is paying for swimming pool and jacuzzi and water Fontaine.?

If one stop to pay, what happen? Everybody will stop to pay and your nice swimming pool become green.

These costs are part of the common fee paid by each unit owner once the title is transferred. So there should be no issues with this in any building that anyone other than crackheads would want to live in. The building management can pursue the owners who dont pay.

[thaiwanderer]

A bank guarantee, or a guarantee from another reliable source, is only as good as the terms and conditions of the guarantee.

Any guarantee is only as good as the success of any appeal to it, which can't be known in advance.

Terms are important but don't make guaranteees effective.

Edited November 27, 2011 by thaiwanderer

[swisstouristpattaya]

They say 60% of 1000 condo sold in 3 weeks !!

So they sold over 30 condo a day?

Bullllllshiiiiiiiit !!!

[PattayaPhom]

They say 60% of 1000 condo sold in 3 weeks !!

So they sold over 30 condo a day?

Bullllllshiiiiiiiit !!!

Do you work in real estate in Pattaya???..I could show you two developers offices/showrooms and you would see that from 10am-6pm they have customers all day....dont forget, these developments are advertised abroad and the customer dosnt even need to visit Thailand to pay/ place deposit....if you dont believe them...then dont buy..simples

[craigt3365]

They say 60% of 1000 condo sold in 3 weeks !!

So they sold over 30 condo a day?

Bullllllshiiiiiiiit !!!

Do you work in real estate in Pattaya???..I could show you two developers offices/showrooms and you would see that from 10am-6pm they have customers all day....dont forget, these developments are advertised abroad and the customer dosnt even need to visit Thailand to pay/ place deposit....if you dont believe them...then dont buy..simples

The better developments do tend to sell out quickly. I was at one not long ago where a Bangkok investor bought 20. Wish I had that kind of money....

Wasn't there a development in Bangkok that sold out in, like, 3 days???? Or something like that.

Other developments languish for years.

[Darrel]

Some developments do indeed sell fast in the early days. What bothers me is that many of these units are bought at a steep discount by people who have not the slightest intention of still owning them when the building is finished. They intend to buy off-plan and sell during construction, when the developer asking price exceeds the discounted price they paid by a suitable margin.

[swisstouristpattaya]

I don't believe they sell so easily.50 building in pattaya and there will be a crash and you will feel sorry with your bunker of 36 sqm that nobody want buy because you can get new for cheaper..

I visited building, they all stink, lift are kaput, people cook in the hall, swimming poll not maintained. People buy the lowest appart at 1 millions then hang panel for sale on the terasse just to make few bucks. Personally I would prefer to buy when its built. Good luck to all who still believe on these jailcells:D . Should I continue?

sent from tapatalk :-)

Edited November 30, 2011 by swisstouristpattaya

[trogers]

Some developments do indeed sell fast in the early days. What bothers me is that many of these units are bought at a steep discount by people who have not the slightest intention of still owning them when the building is finished. They intend to buy off-plan and sell during construction, when the developer asking price exceeds the discounted price they paid by a suitable margin.

I think you are using the wrong terms for off plan acqusition. There is no sales and purchase of real property, and no title transfer. Only pieces of papers were exchanged and booking fees made.

[PattayaPhom]

I don't believe they sell so easily.50 building in pattaya and there will be a crash and you will feel sorry with your bunker of 36 sqm that nobody want buy because you can get new for cheaper..

I visited building, they all stink, lift are kaput, people cook in the hall, swimming poll not maintained. People buy the lowest appart at 1 millions then hang panel for sale on the terasse just to make few bucks. Personally I would prefer to buy when its built. Good luck to all who still believe on these jailcells:D . Should I continue?

sent from tapatalk :-)

Sounds like Nirun or Nine Karat to me............hardly the likes of new develpments

[Darrel]

Some developments do indeed sell fast in the early days. What bothers me is that many of these units are bought at a steep discount by people who have not the slightest intention of still owning them when the building is finished. They intend to buy off-plan and sell during construction, when the developer asking price exceeds the discounted price they paid by a suitable margin.

I think you are using the wrong terms for off plan acqusition. There is no sales and purchase of real property, and no title transfer. Only pieces of papers were exchanged and booking fees made.

Indeed. They are just contracts to buy. Doesn't actually change much though, and of course one should say that no condo unit is ever actually bought/sold until the building is finished and the chanotes are delivered.

And it doesn't stop the developers putting "50% sold out!" on ads.

[binjalin]

1322666739[/url]' post='4882564']

I don't believe they sell so easily.50 building in pattaya and there will be a crash and you will feel sorry with your bunker of 36 sqm that nobody want buy because you can get new for cheaper..

I visited building, they all stink, lift are kaput, people cook in the hall, swimming poll not maintained. People buy the lowest appart at 1 millions then hang panel for sale on the terasse just to make few bucks. Personally I would prefer to buy when its built. Good luck to all who still believe on these jailcells:D . Should I continue?

sent from tapatalk :-)

I must say that there maybe some truth in this - about an eventual crash in Pattaya particularly as there is over supply. Im sure this will correct itself and a price correction will take place - those small studios are over-priced in my view.

[trogers]

Some developments do indeed sell fast in the early days. What bothers me is that many of these units are bought at a steep discount by people who have not the slightest intention of still owning them when the building is finished. They intend to buy off-plan and sell during construction, when the developer asking price exceeds the discounted price they paid by a suitable margin.

I think you are using the wrong terms for off plan acqusition. There is no sales and purchase of real property, and no title transfer. Only pieces of papers were exchanged and booking fees made.

Indeed. They are just contracts to buy. Doesn't actually change much though, and of course one should say that no condo unit is ever actually bought/sold until the building is finished and the chanotes are delivered.

And it doesn't stop the developers putting "50% sold out!" on ads.

And when the project is built, these ads will be replaced by "Maximum Discounts on Resale Units" ...

Edited December 4, 2011 by trogers

[hughden]

They say 60% of 1000 condo sold in 3 weeks !!

So they sold over 30 condo a day?

Bullllllshiiiiiiiit !!!

I think I know the development you are talking about. Every time I drive past the car park is full and the place is awash with potential customers. And who is buying? Bangkok Thais. After the flood experience they are buying up units in Pattaya (and probably other places). Small size, fully equipped and being built by an established Bangkok based Thai developer, so it sells. Similar project just down the road is also heavily sold.

Not to be confused by underfunded developments fronted by shady looking characters with a no-name builder and overpriced and oversized units.

[swisstouristpattaya]

So far no one brick has been mounted, and wait for the 2012 crisis....

sent from tapatalk :-)

[PattayaPhom]

I don't believe they sell so easily.50 building in pattaya and there will be a crash and you will feel sorry with your bunker of 36 sqm that nobody want buy because you can get new for cheaper..

I visited building, they all stink, lift are kaput, people cook in the hall, swimming poll not maintained. People buy the lowest appart at 1 millions then hang panel for sale on the terasse just to make few bucks. Personally I would prefer to buy when its built. Good luck to all who still believe on these jailcells:D . Should I continue?

sent from tapatalk :-)

As you started a totally uselesss topic, you may as well continue.........if you dont want to buy...then dont!.....but its probably the case, you want to buy but cant afford too so take out your anger on those that can.......dont worry, your not alone, theres one or two on this forum in the same position.

[Darrel]

.......if you dont want to buy...then dont!.....but its probably the case, you want to buy but cant afford too so take out your anger on those that can.......dont worry, your not alone, theres one or two on this forum in the same position.

That chestnut is very old indeed, and shows what a poor grasp on reality some real estate agents have.

I know some people here who make me look quite poor. They rent fancy places with good sea views and when asked about buying they just laugh.

[kanderson]

I don't believe they sell so easily.50 building in pattaya and there will be a crash and you will feel sorry with your bunker of 36 sqm that nobody want buy because you can get new for cheaper..

I visited building, they all stink, lift are kaput, people cook in the hall, swimming poll not maintained. People buy the lowest appart at 1 millions then hang panel for sale on the terasse just to make few bucks. Personally I would prefer to buy when its built. Good luck to all who still believe on these jailcells:D . Should I continue?

sent from tapatalk :-)

For the price of a somewhat upscale car 1,000,000+ Baht, my "jail cell" with huge swimming pool seems well worth it. It's just for retirement in my case. I have a small house in Hawaii but Hawaii is super expencive to live on a budget. I believe the best advise has always been not to spend more than you can afford to loose. I like the fact that some condo's are so inexpensive. It fits the bill for me - on a budget.

I bought a unit at VT 1 in my name - I like it.

[PattayaPhom]

.......if you dont want to buy...then dont!.....but its probably the case, you want to buy but cant afford too so take out your anger on those that can.......dont worry, your not alone, theres one or two on this forum in the same position.

That chestnut is very old indeed, and shows what a poor grasp on reality some real estate agents have.

I know some people here who make me look quite poor. They rent fancy places with good sea views and when asked about buying they just laugh.

If people want to rent that is their choice, same as those that wish to buy......difference is so many that rent always knock buying but those that buy appreciate others wish to rent.....horses for courses i suppose...I feel rent is wasted money if you are living somewhere long term, especially now with such poor returns from investments worldwide....and those that say they get gauranteed 12% pa are liars, investments like that dont exist..... unless of course you invest in certain properties

Edited December 18, 2011 by PattayaPhom

[swisstouristpattaya]

And you buy what?4 walls,a ceiling and a few gallons of water for your swimming pool....

Oh guess what? You don't own the land and you neighbor will sell yaba, bring prostitute and loud music all night...

When they red will be tired of you, they will pass a law to kick you out

Remember, its not your land... You don't own anything in Thailand, only fools buy condo....