Consumer officials give Phuket condo developer 1 week to solve problem

[webfact]

Consumer officials give Phuket condo developer 1 week to solve problem
The Phuket News

Consumer Protection boss Ampon Wongsiri: We must have something on paper.

PHUKET: -- Officials from the Consumer Protection Board (CPB) in Bangkok were in Phuket yesterday (May 19) to push for an urgent solution to problems between the developers of the Ace 1 condominium project and buyers.

The condo buyers had complained that although they had paid monthly as per the purchase contract, work had not even started on the condo building.

The developers, The Nine Property (Patong) Co, last week blamed the situation on an “internal problem” in the company.

At the meeting, CPB secretary-general Ampon Wongsiri said repeatedly, “We don’t want just verbal promises. We need something on paper.”

Both sides in the “internal problem” at The Nine came to the meeting and both stressed that they were not refusing to repay the buyers, but that repayment had been blocked by the internal problem, which is now the subject of a civil action in the Thai courts.

Governor Nisit Jansomwong, who last week discussed the problem with representatives of The Nine, told the meeting, “I want this solved. I want to help the people who have this problem. Some want their money back but others still want a condo so I don’t think the company will have a money problem.”

Gov Nisit also added to the CPB officials, on a wider note, “I really want specific rules about property, condominiums and timeshares to protect the customer.”

At the meeting the CPB officials said that they had ordered The Nine to file, with the CPB and the governor, a formal pledge stating when and how the buyers’ money would be repaid. A deadline of seven days (May 26) was set for the pledge to be delivered.

After the meeting, the CPB officials went to Patong to inspect the Ace 1 condo site and to talk with some of the aggrieved buyers.

Source: http://www.thephuketnews.com/consumer-officials-give-phuket-condo-developer-1-week-to-solve-problem-52404.php


-- Phuket News 2015-05-20

[clockman]

The pitfalls for farangs! Remember the only law is the one thats bought.

[LivinginKata]

a formal pledge stating when and how the buyers’ money would be repaid. A deadline of seven days (May 26) was set for the pledge to be delivered.

Best of luck with that. They can 'pledge' a repayment xx years from now.

[Mango Bob]

How many times have I read, don't purchase an unfinished condo.

[trogers]

How many times have I read, don't purchase an unfinished condo.

You cannot purchased an uncompleted condo. It has not existed yet. Most people have this mistaken belief.

What you would have bought is a promise to build a condo.

[Deli]

Internal problems my a..

A bunch of incompetent wanna-be developers. Settling with Thainess is probably the only thing they understand ( i.e. Glock & friends )

Misses wanted us to buy a unit when they started sales, luckily I didn't listen to her

[IamNoone88]

And what is the internal problem that is mentioned without being mentioned?

[Pinot]

Reason #749 to never buy property in Thailand.

[soalbundy]

And what is the internal problem that is mentioned without being mentioned?

The boss has run of with the money perhaps

[razer]

Many years ago a Thai company I was close to, couldn't make payroll because of an "internal problem". The owner came out to smooth things over. He was in a spanking new Maybach.

[HerbalEd]

I would never ever buy a house or condo that I cannot see ... much less one that's not even started.

[HerbalEd]

Reason #749 to never buy property in Thailand.

Thailand is by no means the only place this sort of problem happens. It even happens in USA and Europe.

[realenglish1]

In the end these poor sods will end up with nothing Its obvious the company is in real trouble

[shirtless]

At least we are seeing some action so far the only excuse the developer can come up with is its an internal issue well what is this issue and surely they could get these alleged transcripts

[winstonc]

we had a thread on here this week with people moaning that they cant buy land etc.....does this this topic help any queries you may have ..renting is the way to go .if your a foreigner ..i think..

[trogers]

we had a thread on here this week with people moaning that they cant buy land etc.....does this this topic help any queries you may have ..renting is the way to go .if your a foreigner ..i think..

Those who wants to buy should look at old condos. You get what you see: it's conditions, location, class of the community, and the surrounding neighbourhood.

[wowfactor10]

If foolish to buy off plan in Thailand then make sure the payment plan is attached with the building progress..

[Anthony5]

both stressed that they were not refusing to repay the buyers, but that repayment had been blocked by the internal problem,

The internal problem being that there is no money in the company account ?

[konying]

And what is the internal problem that is mentioned without being mentioned?

Most likely partnership issues

[ldnguy]

we had a thread on here this week with people moaning that they cant buy land etc.....does this this topic help any queries you may have ..renting is the way to go .if your a foreigner ..i think..

That's great for those that want to rent until they die. Some prefer to pay less and have a condo they own and that they can pass on to family. Why waste money on rent when you can buy? 30K per month to rent = 360K per year = 3.6 million per decade = 14.4 million if you rent for 40 years. And that doesn't even take account of inflation. Seems like a complete waste of money to me. But I guess your landlord is very happy that you have that attitude.

[elgordo38]

we had a thread on here this week with people moaning that they cant buy land etc.....does this this topic help any queries you may have ..renting is the way to go .if your a foreigner ..i think..

That's great for those that want to rent until they die. Some prefer to pay less and have a condo they own and that they can pass on to family. Why waste money on rent when you can buy? 30K per month to rent = 360K per year = 3.6 million per decade = 14.4 million if you rent for 40 years. And that doesn't even take account of inflation. Seems like a complete waste of money to me. But I guess your landlord is very happy that you have that attitude.

Anybody that pays 30,000 bahts a month for a condo should get his head read. There are so many on the market to choose from. I have 40 sq. metres and we have a pool for 4,000 a month in Chiang Mai close to everything. I do not need to live like the Jetsons. My home does not have to be my castle. At my age I will not live another 40 years I will be happy with 4.

[Anthony5]

we had a thread on here this week with people moaning that they cant buy land etc.....does this this topic help any queries you may have ..renting is the way to go .if your a foreigner ..i think..

That's great for those that want to rent until they die. Some prefer to pay less and have a condo they own and that they can pass on to family. Why waste money on rent when you can buy? 30K per month to rent = 360K per year = 3.6 million per decade = 14.4 million if you rent for 40 years. And that doesn't even take account of inflation. Seems like a complete waste of money to me. But I guess your landlord is very happy that you have that attitude.

Anybody that pays 30,000 bahts a month for a condo should get his head read. There are so many on the market to choose from. I have 40 sq. metres and we have a pool for 4,000 a month in Chiang Mai close to everything. I do not need to live like the Jetsons. My home does not have to be my castle. At my age I will not live another 40 years I will be happy with 4.

Well, same as there are cars and there are cars, there are condo's and there are condo's. You get what you pay for.

At my age I will not live another 40 years I will be happy with 4.

A reason more to live like the jetsons and enjoy your last years on this world, because you can't take it with you.

Edited May 20, 2015 by Anthony5

[ldnguy]

we had a thread on here this week with people moaning that they cant buy land etc.....does this this topic help any queries you may have ..renting is the way to go .if your a foreigner ..i think..

That's great for those that want to rent until they die. Some prefer to pay less and have a condo they own and that they can pass on to family. Why waste money on rent when you can buy? 30K per month to rent = 360K per year = 3.6 million per decade = 14.4 million if you rent for 40 years. And that doesn't even take account of inflation. Seems like a complete waste of money to me. But I guess your landlord is very happy that you have that attitude.

Anybody that pays 30,000 bahts a month for a condo should get his head read. There are so many on the market to choose from. I have 40 sq. metres and we have a pool for 4,000 a month in Chiang Mai close to everything. I do not need to live like the Jetsons. My home does not have to be my castle. At my age I will not live another 40 years I will be happy with 4.

The rent is loosely based on the cost of buying the condo, so the same holds true. If you're happy to rent, that's fine. Renting suits some people and some situations. But many people have families and prefer to buy so that they have something to pass on to the next generation. There's nothing at all wrong with that. You might not live for 40 years longer, but many will. Personally I don't like the though of paying rent forever. I would rather buy.

Also, you are happy with a 40 sqm condo, but many have families, so they'd need a house or large condo. Different situations, different solutions. Not everyone wants to live in such a small space as you do. I certainly wouldn't.

I've no idea who the Jetsons are.

One question for you. Suppose a family of 4 moves to Bangkok for work and gets paid a salary of 200K a month. Why do you think they need their head tested if they rent a condo for 30K or more? They'd likely have to pay more for a 3-bed condo. I don't see why you think that is so wrong.

Edited May 20, 2015 by ldnguy

[ldnguy]

At my age I will not live another 40 years I will be happy with 4.

A reason more to live like the jetsons and enjoy your last years on this world, because you can't take it with you.

I find it quite sad that someone would want to spend that last 4 years of their life in such a small condo. Surely there is more to life than finding the cheapest condo in town.

[ldnguy]

we had a thread on here this week with people moaning that they cant buy land etc.....does this this topic help any queries you may have ..renting is the way to go .if your a foreigner ..i think..

Buying land is different to buying an off plan condo. Same holds true in other countries as well.

[tingtongfarang]

To be honest i cant imagine to rent or buy a condo. why do that when there are 2-3 bedroom houses for rent for 5k?

admitted i,m talking about bkk not phucket.

Edited May 20, 2015 by tingtongfarang

[ldnguy]

To be honest i cant imagine to rent or buy a condo. why do that when there are 2-3 bedroom houses for rent for 5k?

admitted i,m talking about bkk not phucket.

Many people prefer a condo because the come with pool, gym, onsite maintenance, etc. Just easier to manage than a house for many people. But it's an individual choice.

Surely you can imagine that.

[tingtongfarang]

To be honest i cant imagine to rent or buy a condo. why do that when there are 2-3 bedroom houses for rent for 5k?

admitted i,m talking about bkk not phucket.

Many people prefer a condo because the come with pool, gym, onsite maintenance, etc. Just easier to manage than a house for many people. But it's an individual choice.

Surely you can imagine that.

Not really..i viewed 4 bedroom houses with a pool and garden for 13k, but sure i can imagine what you describe...sounds expencive and of no use to me.

[steelepulse]

To be honest i cant imagine to rent or buy a condo. why do that when there are 2-3 bedroom houses for rent for 5k?

admitted i,m talking about bkk not phucket.

Many people prefer a condo because the come with pool, gym, onsite maintenance, etc. Just easier to manage than a house for many people. But it's an individual choice.

Surely you can imagine that.

Not really..i viewed 4 bedroom houses with a pool and garden for 13k, but sure i can imagine what you describe...sounds expencive and of no use to me.

In Phuket? Surely you jest.

[Nick167]

Ah Phuket....good place to invest in real estate!