Returning of my reservation fee,due to developer incorrect S&P

[Tranquilo]

Hello,

I just reserved a off plan condo unit in BKK.

So i had to pay a reservation fee of 50,000 BHT to reserve the unit.

Then they gave me their S&P agreement which the developer hopes i will sign soon.

So then i started to read their agreement at my home.Turns out many clauses in the s&p agreement are incorrect and all is in favor of the developer.

Examples : there is not even a completion date being mentioned in the s&p ,there is no copy of title deed attached to the s&p, then the developer tries in the s&p to exclude his marketing material from the binding documentation, there is no waranty clause, and no defect waranty clause.No master plan attached to the contract..etc etc

In my opinion this contract is simply not legal and it is not according to the rules and regulations with the Thai consumer protection laws.

I will not sign his illegal s&p agreement and i do not think that the developer will correct each clause that i do not agree with.

my question is can i ask the developer to refund me back my deposit simply because i will not sign his illegal drafted s&p ?

[Tranquilo]

Hi,

Hope some one can clear this issue soon for me.

[jonclark]

Hi,

When we bought our condo many moons ago(the wife and I) we put down a deposit whilst we applied a mortgage. The first condo we went for we failed on the mortgage application with three different banks (so the deposit was returned).

So as far as I am aware deposits are fully refundable when taken with success or failure of mortgage applications.

The warranty clause is also a very fluid area. I know of several developments where people in the same condo block, in effectively identical apartments from the same developer all have different lengths of warranties from 6 months to 7 years.

If you are a cash buyer, and you want the place, then just be prepared to be a professional and polite bastard, make 100% sure you get everything you want and be prepared to walk away - with your cash - if you don't get it - and ensure the developer knows that - Only when the sale is made does the sales office gets its cut! . Only when you have got it sorted as you want it pay the outstanding amount. Better to lose a deposit than be spend all you cash on a condo that isn't exactly as you want it.

Hope that might help you - if your nopt sure you could do worse than spend 5k on a lawyer to look things over and give you your legal options.

[bkkjames]

What were the terms of the deposit?