The process for condo building

[Delight]

I am just curious about the potential options when building a condo..

Option 1 –The land is purchased (presumably with planning permission)and that commits the developer.

Option 2-The developer rents the land –erects a sales office. Creates a web site. If sales achieve a certain target –then the project moves to the next stage. Sales fail to reach target –then the project is abandoned.

I ask the Q because option 2 seems to be the case in the area where I live i.e. a sales office & web site but no actual building activity.

[Suradit69]

"I ask the Q ..."

Not sure if there is a question to be answered since you've already seen both options described.

Edited July 11, 2013 by Suradit69

[LennyW]

There is also Option 3-The developer rents the land –erects a sales office. Creates a web site, gathers as much deposit's as they can,then bugger off into the sunset never to be seen again!

[PattayaPhom]

Developer purchases land, applies EIA and planning, in the meantime has office and markets, sells off plan, EIA approved construction commences......completion, residents move in ...for every one that is abandoned 100 are successful

[Delight]

"I ask the Q ..."

Not sure if there is a question to be answered since you've already seen both options described.

You are correct .apologize for lack of clarity.

My Q is does option 2 occur or is it 100% option 1?

Edited July 12, 2013 by Delight

[sotsira]

Developer purchases land, applies EIA and planning, in the meantime has office and markets, sells off plan, EIA approved construction commences......completion, residents move in ...for every one that is abandoned 100 are successful

Really ?

Only one in every hundred are abandoned, i find that very hard to believe.

Another typically false statement coming from an estate agent.

I'd be happy to be proved wrong if you have some evidence to prove your statement.

[PattayaPhom]

Developer purchases land, applies EIA and planning, in the meantime has office and markets, sells off plan, EIA approved construction commences......completion, residents move in ...for every one that is abandoned 100 are successful

Really ?

Only one in every hundred are abandoned, i find that very hard to believe.

Another typically false statement coming from an estate agent.

I'd be happy to be proved wrong if you have some evidence to prove your statement.

Another typically false statement coming from a keyboard warrior.

id be happy to be proved wrong if you have some evidence to prove otherwise