Just Fantastic

[tmaker]

saw a condo project on at a booth in a shopping mall.

went over to see the site and show room. talked and looked around

booked a condo and paid the deposit.

continued with the installment plan and paid for 20+ months

NEVER DID EXPECT THIS BUT THIS JUST ENFORCED MY 'PERCEPTION' OF THAILAND

Thailand is LOS. S is SCAM

the date is 21st APRIL 2013 .

now is coming end of 2015 ..... what is the status ? still building ......( at least it did not stop at all )

keep telling me will be finished in the month of _________ ( fill in the blank )

but not finished.

today says - SURE ,END OF THE YEAR . my colleagues looked at the status on the Facebook page and shook their heads . at least another year or even more.

asked my accountant to call and speak to them....and she pressed them and finally

a. no money to return me.

b. will SELL for me - IF THERE IS A BUYER - time frame ? not sure

c. SUE ME !!!!

LOL.... WELCOME TO THAILAND

AND for the record , ALL , YES ALL OF MY DEALINGS WITH THAI PURCHASES ...I AM CHEATED !!!

just too believing that they are so 'courteous' and so nice but................

[Paul944]

I hope you do not formulate and format all your letters and messages in this style because it is hard to read and looks like it has been written in a severely intoxicated state of mind. I will try to translate it.

You bought a condo off plan on 21 April 2013.

You got a loan with it and paid a deposit and more as 20 monthly payments so far.

The condo is still in building phase and it looks like it will not be finished this year.

You did not mention they ever told you when it will be finished, so what is the point?

[robertthebruce]

I think his point is he is pissed off.

Moral of the story... don't buy off plan...

[ldnguy]

It's not a scam, it's just late. These things happen everywhere. What does the contract say? Is there a clause about what happens if there's a delay? There should be, so just follow what it says.

[bangkoklawyer24]

But at least you saved the professional fees for a lawyer. And that is one of the top goals for any property acquisition in Thailand. So, the deal was not sooo bad...

[blackcab]

Without having a go at the OP I think it's fair to say there are many finished and brand new condos for sale.

There is seldom a really good reason to buy off plan in Thailand, although exceptions do exist.

[donx]

Would the OP be willing to tell us which condo building the condo is in?

[tmaker]

laem chabang

www.facebook/thebmworld

if you see the photo , guess it will be completed god knows when

end of 2017 . with that date ? i would not even bet on it.

[WorkingTourist]

Moral of the story... don't buy off plan...

Moral of the story is to check the contract!

I have bought off plan because it meant first dips on the attractive units and ability to get changes done to the layout and materials.

My contract states that if the Seller does not transfer ownership on the agreed upon date, I have the right to cancel the deal and get all instalments returned with interests (7.5%).

If I do not exercise this right, I can instead fine the Seller daily at a rate corresponding to 0.01% of the purchase sum.

But I don’t think OP’s development is even delayed. Looking at the Facebook page, there are regular progress updates, and it seems they started building two years ago. Not sure what OP was expecting.

[KittenKongRedux]

The real moral for any financial transaction of any type is Thailand is simply never to believe anything anyone tells you unless you have it in writing with a witnessed signature.

Everything else is probably just lies, empty promises and misdirection. Sad, I know, but so true.

[mcfish]

I bought 2 condos both on time. Its a bit like saying Ford are scum of the earth and scammers because of the occasional lemon

[ldnguy]

The real moral for any financial transaction of any type is Thailand is simply never to believe anything anyone tells you unless you have it in writing with a witnessed signature.

Everything else is probably just lies, empty promises and misdirection. Sad, I know, but so true.

That's true the world over. The problem is that many don't bother to read contracts before signing them. It just amazes me that people buy things as expensive as condos without know what will happen if there are delays or if other things go wrong. It's just madness.

[Robert24]

agree with people that you should only buy what is completed. If you are keen to make an exception for this, only with a big real estate company like Sansiri, Land & House etc. I've never heard about this developer before, I certainly wouldn't make any downpayments to a company like this. But at least haven't lost all your money, looks like they are still finishing the building.

As blackcab mentions, there is no lack of opportunities on the market that have been finished and not sold so no reason to buy from an unknown developer. The problem is always about the worst case scenario which is the developer goes bankrupt, building is not completed and you paid a significant amount already.

[casualbiker]

They didn't start building until May 2014. And have continued building since then.. From the last pictures probably about 3 months from final fit out.

Stop grumbling and re-read your purchase contract!

[questionsreplies]

Next time go shopping with a brain, it helps to avoid buying something not yet built..

[huawei]

The real moral for any financial transaction of any type is Thailand is simply never to believe anything anyone tells you unless you have it in writing with a witnessed signature.

Everything else is probably just lies, empty promises and misdirection. Sad, I know, but so true.

That's true the world over. The problem is that many don't bother to read contracts before signing them. It just amazes me that people buy things as expensive as condos without know what will happen if there are delays or if other things go wrong. It's just madness.

I know a person who signed for a property and it was all in Thai. He trusted the foreign developer. 10m did not seem a lot to him at his age.

You can read a contract in detail but still end up with something dodgy. You need to do due diligence at the land department at a minimum before transfer.

[WorkingTourist]

As for contracts, I recently came across a case where a limited liability company had been formed to take the role of “the Seller” in the contract.

Googling the female director of this company revealed that to Facebook she had stated her employer as a disco in Pattaya rather than being a director of a real estate company

[theguyfromanotherforum]

Disagree that you should only buy it once completed.

Come on man..... you bought a condo from a company that doesn't even have a web page.

As far as I know all the major players in Thai real estate finish their projects on time.

[trogers]

They didn't start building until May 2014. And have continued building since then.. From the last pictures probably about 3 months from final fit out.

Stop grumbling and re-read your purchase contract!

Only an 8-storey condo. Should be completed within 18 months of start. And why would one buy a condo in Lamchabang?

I notice that the long narrow corridors are only 1.5m wide. Maximum sales area takes precedent to quality in living space.

[TheCruncher]

I bought 2 condos both on time. Its a bit like saying Ford are scum of the earth and scammers because of the occasional lemon

It depends what you call occasional.

Suwarn Sawan, lost count but must be at least 6 years late.

The Park, about the same.

Ocean 1, wild guess 10 years late?

Savannah Sands, construction has stopped long time ago.

All Tulip projects have been stopped, some for over a year.

Should I go on with occasional "delays:?

[hhgz]

Does the OP speak English?

[tmaker]

Does the OP speak English?

and your point is ?