First time buying in Thailand

[balo]

Just rent cheap , then you can move if you don't like your neighbours or the noise coming from the soi that nobody told you about .

[PattayaPhom]

Oh well- there is me saying some agents are excellent- this evening had the water meter removed( did not think that was possible- but it is!) so water is cut off.

I check everything- so agent had assured me all bills are paid- it turns out water bills have not been paid by previous tenants for ages- so no water- have enough in the tank for a couple of days , and hopefully will be sorted!

As agents we don't always know if the previous tenant has kept up with utilities. Depending on your tenancy agreement (ours are based on UK ASTs) the Landlord should have duty to ensure that basic utilities are available. In your situation what I would normally advise one of my tenants in the same boat would be to go to the water department, pay the old bills and reconnection and just knock it off the rent. There is usually little point is persuing the old tenants since they will be long gone so the landlord will have to foot the bills anyway.

Also we always make sure the Landlord has at least two months deposit when the tenants move in and refunds are not made at the end of the tenancy until the Landlord knows that all utilities are up to date. So really all roads lead to the Landlord (or agent if they were managing the property)

SDM

Correct but most boneheads will still blame the agent...dont you get it yet Steve...you will always be wrong and a lazy, lying useless agent.............

[Donnie Brasco]

Rent

"Sometimes, 'fuggedabowdit' just means fuggedabowdit."

[SDM0712]

Ha ha! Maybe!

It is frustrating for the tenant though as they can't always contact the Landlord, they need someone to shout at! I don't blame them at all.

Also quite often we are the bringers of bad news and it doesn't matter that we are only the messenger!

I think also that most agents I have come across here wouldn't last five minutes Stateside or in Blighty, they would be struck off for their sharp practices. HM Trading Standards would have a field day! The guys in my London office think I'm kidding when I tell them what goes on here.

SDM

[JSixpack]

I am less keen on things like . . . elevator replacement.

Woman crushed to death by poorly maintained elevator in Sukhumvit condo

Great list, KK. Particularly in an older building the maintenance and possible needed replacement of the elevators should be given some consideration.

[cmason191]

KK those are some solid points

The last few days I have looked at over 6 different condos I am interested in.

I have found a unit I liked in Thong Lo and will be going back for a second viewing next week.

Has anyone experience with a property lawyer here in BKK? I have heard of Siam Legal but never used the service...any feedback on them?

The building isn't the newest so I thought about a surveyor. I know in the UK it's common to have a property surveyed by a professional so a realistic value can be put on the property - is that also the same in Thailand? I tried looking on google but couldn't find any website offering that service.

I will imagine I need the owners permission before I bring in a surveyor - I will be unable to rent there beforehand because the unit currently has tenants however they seemed happy being there which I guess is a positive thing.

C

[falkan]

what brand? and make sure they sold out or 90% otherwise less money for maintenance..

[KittenKong]

Has anyone experience with a property lawyer here in BKK? I have heard of Siam Legal but never used the service...any feedback on them?

The building isn't the newest so I thought about a surveyor.

Condo surveys are not common in Thailand. If you find someone to do it I suspect that they will charge a lot and accept absolutely no responsibility for getting it wrong anyway, so what's the point? I might think twice in earthquake zones but elsewhere if the building isn't leaning over and doesnt have cracks in the side then it's probably OK. Even if it falls over you still own your share of the land and the building insurance should pay for the condo to be rebuilt on it, and your insurance should pay for the internal finishing.

Most people probably don't bother with a lawyer for the transfer of a farang name condo as the procedure is really very simple. If you do use one dont pay too much as they have very little to do.

[trajan]

I have found a unit I liked in Thong Lo and will be going back for a second viewing next week.

...

The building isn't the newest so I thought about a surveyor. I know in the UK it's common to have a property surveyed by a professional so a realistic value can be put on the property - is that also the same in Thailand? I tried looking on google but couldn't find any website offering that service.

...

not sure what you mean by "surveyor" in the context of a condo?...

when I bought my very first condo (second hand, not new) in Bangkok and applied for a mortgage loan with HSBC, they required a formal appraisal of value from AMERICAN APPRAISAL (THAILAND) LIMITED ..

the bank used that appraised amount (which was slightly below the actual contract purchase price amount) to extend a 70% loan...

no surveys or surveyors were involved at any stage...

[SDM0712]

I have found a unit I liked in Thong Lo and will be going back for a second viewing next week.

...

The building isn't the newest so I thought about a surveyor. I know in the UK it's common to have a property surveyed by a professional so a realistic value can be put on the property - is that also the same in Thailand? I tried looking on google but couldn't find any website offering that service.

...

not sure what you mean by "surveyor" in the context of

For us from the UK we normally get a surveyor ( not a building engineer, but person qualified to make a comment on condition and value) to inspect the purchase. The lending bank will require a very basic comment on value and structure (like does it look like it's about to fall down), but the buyer may decide to get a more comprehensive survey.

We would need to get a survey regardless of whether the purchase was a house or flat (apartment).

SDM

Edited February 21, 2014 by SDM0712

[trajan]

I have found a unit I liked in Thong Lo and will be going back for a second viewing next week.

...

The building isn't the newest so I thought about a surveyor. I know in the UK it's common to have a property surveyed by a professional so a realistic value can be put on the property - is that also the same in Thailand? I tried looking on google but couldn't find any website offering that service.

...

not sure what you mean by "surveyor" in the context of

For us from the UK we normally get a surveyor ( not a building engineer, but person qualified to make a comment on condition and value) to inspect the purchase. The lending bank will require a very basic comment on value and structure (like does it look like it's about to fall down), but the buyer may decide to get a more comprehensive survey.

We would need to get a survey regardless of whether the purchase was a house or flat (apartment).

SDM

thanks for that clarification...

here, in my direct experience, it was an appraiser company, which issued a formal booklet with inspection results, comparables, etc. with an appraised value.

a building engineer inspection would also be nice if you are being very careful (and it is a very substantial property).

[cmason191]

So yes - I have been in contact with a surveying company and they are willing to do it for around 6000 baht - I also read the sticky assessing a condos condition with had lots of good tips in (http://www.thaivisa.com/forum/topic/654322-assessing-a-condos-condition-structure-leakagesetc/).

Has anyone any experience with the property lawyers here? In particular Interactive (www.interactivethailand.com) - they were one of the English speaking lawyers that have been recommended to me.

I do know of Siam Legal but the prices they quoted were over double that of Interactive.

C

[SDM0712]

So yes - I have been in contact with a surveying company and they are willing to do it for around 6000 baht - I also read the sticky assessing a condos condition with had lots of good tips in (http://www.thaivisa.com/forum/topic/654322-assessing-a-condos-condition-structure-leakagesetc/).

Has anyone any experience with the property lawyers here? In particular Interactive (www..com) - they were one of the English speaking lawyers that have been recommended to me.

I do know of Siam Legal but the prices they quoted were over double that of Interactive.

C

Happy to recommend if required but I think my choices will be more than you are willing to go if you think Siam are expensive.

I have never heard of this firm but can only advise you that cheap rarely means good. Of course it doesn't mean bad either but if a firm does a good job it doesn't need to be cheap to attract business.

Go with a firm that has been recommended from direct experience of whoever is doing the recommending.

Having said all of that if the condo is a Foreign Freehold under the a Condominium Act it should be quite clear cut. If it involves a lease or series of leases safeguard yourself with a decent lawyer, or better still find another one that is on a Foreign Freehold.

SDM

Edited February 25, 2014 by SDM0712

[cmason191]

So yes - I have been in contact with a surveying company and they are willing to do it for around 6000 baht - I also read the sticky assessing a condos condition with had lots of good tips in (http://www.thaivisa.com/forum/topic/654322-assessing-a-condos-condition-structure-leakagesetc/).

Has anyone any experience with the property lawyers here? In particular Interactive (www..com) - they were one of the English speaking lawyers that have been recommended to me.

I do know of Siam Legal but the prices they quoted were over double that of Interactive.

C

Happy to recommend if required but I think my choices will be more than you are willing to go if you think Siam are expensive.

I have never heard of this firm but can only advise you that cheap rarely means good. Of course it doesn't mean bad either but if a firm does a good job it doesn't need to be cheap to attract business.

Go with a firm that has been recommended from direct experience of whoever is doing the recommending.

Having said all of that if the condo is a Foreign Freehold under the a Condominium Act it should be quite clear cut. If it involves a lease or series of leases safeguard yourself with a decent lawyer, or better still find another one that is on a Foreign Freehold.

SDM

Hey SDM

Yeah I would like to hear recommendations from people here too as I don't know too many firms myself - I don't have too many friends here who can offer me recommendations.

I will be contacting the agent if the condo is Foreign Freehold or not then go from there and report back here.

Thanks again

C

[SDM0712]

C.

PM sent.

SDM

[cmason191]

What is the general consensus on how condos hold their value specifically in Thong Lo area?

I have found a couple of units I like now and the more expensive ones seem to be from condos <5 years old; I am wondering whether they will hold value better than condos which are 15> years old?

Is there any website that offers statistics on this in Thai?

C