Worst Joke Ever 2024

[tatt star]

I am very shortly required to complete the final payment and handover of my new condo. I have made all other payments form the UK and had Invoice of payment sent to me via email attachments. Has any one on here completed the final handover of their condo in the same way from abroad. I guess what I am asking is , is it essential that I travel to Thailand to sign the final paperwork and take ownership of my condo or can this also be completed from abroad via email and file attachments. Has anybody completed handover in this way or is it vital to travel to Thailand to complete handover?

[dannywla]

Due diligence on your behalf is lacking. If I was closing on a unit I would have a friend complete the handover on your behalf. Today with wifi it can be done while you watch .

I would gladly do that for you, if it's a condo in Central Pattaya. I know what too look for as I took a new condo from my developer a year ago.

Let us know the project name and sure someone assist you in the initial closing. Overtime you will have a punch list of defects to be corrected. Which is par for the course!

[ThaiBob]

I found it simpler just to make a quick trip here, get it done right, and don't trust a lawyer. Your developer will tell you when they are ready to transfer the title (chanote) to you. You will need the FET form from your Thai bank showing the purchase funds came from outside Thailand which is part of the package that is taken to the Land Office.

[KittenKong]

I found it simpler just to make a quick trip here, get it done right, and don't trust a lawyer.

Dont trust anyone in Thailand, not just lawyers!

I would definitely want someone with a brain to have a very close look at everything in the unit before paying the final amount or signing off on it. I've seen some really awful finishing problems in new builds here and once you have paid it isnt always easy to get them fixed.

[tatt star]

Thanks for your comments guys. I have had a close friend go to the condo yesterday to check that the snag list I had made note of on my previous visit are all complete. He says other than a chipped kitchen unit door everything is fine and the condo is to a good standard. The condo is in the Laguna Beach 1 resort by the developer heights holdings. All other previous stage payments were transferred from my British bank account so I presume Thai Bob, that I take the receipt of payment transfer from my UK account for this. Can you advise me on how long, days or hours, it takes to transfer the chanote and register everything at the land office, and complete the whole process for the condo to be completely handed over. Also I am to pay for the 1 year maintenance fee up front. And a 1 off sinking fund payment up front. These I understand. I have also got to pay for the instalation of the water and electric metres with the main utility supplier. Can anyone advise on an estimate of this cost?

[dennis123]

Very curious for a respond from anyone if it works like that, what I understood the money (minimum $20k) has to be transferred to a Thai bank account to get the Foreign exchange report, would open some possiblities for me personal if I could just make payments from a foreign account and show the bank receipts to the land office. Anyway I'm a noob on that front so waiting for others to chime in!

[tatt star]

Hi Dennis, All funds were transferred from my UK account to heights holdings Thai bank account. I have also had a copy of receipt of transfer from the heights holdings Thai bank. Does that sound right?

[dennis123]

Hi Dennis, All funds were transferred from my UK account to heights holdings Thai bank account. I have also had a copy of receipt of transfer from the heights holdings Thai bank. Does that sound right?

I don't know. Do you also have to get this 'foreign exchange credit advice' report from your bank in the UK?

To quote something from another site: "The foreign condominium buyer will have to use Foreign Exchange Credit Advice(s) issued by his/her bank in order to prove that he/she has transfered into Thailand the condominium purchase money in foreign currency." I want to know if there are some ways around that.

[ThaiBob]

The Thai bank where your UK bank transferred your funds(in GBP) to, will issue the FET (tor tor saam). All funds must have come from outside Thailand. I suspect you did SWIFT transfers from UK bank to the developer's Thai bank. The Thai bank name (SWIFT code) should appear on your UK bank paperwork. I did it differently than you. I transferred money from USA to my personal Thai bank account (TMB) and then to the developer's bank. My bank (TMB) issued the FET.

Edited September 23, 2015 by ThaiBob

[dannywla]

In my condo, I moved in last November one of the first Resident Owners. My electrical meter wasn't ready to install for another 8 months. It cost me 9k and I believe 3k is a deposit. The chanote wasn't ready to be transferred for about 7 months after I moved in. At that time the transfer fee tax was due which was close to 90k on a 2.1 million baht studio at Cosy Beach View Condo. So plan on that as the developer will need additional time to get all his paper work in order before chanote and permanent electrical meter is transferred into your name. I have the Electrical Authority deduct my monthly electrical bill each month from my Bangkok Bank account. So should I be out of the country no need to worry about it being cut off.

I had to pay the sinking fund and one years CAM fee when give the keys and AC remote.

[KittenKong]

The Thai bank where your UK bank transferred your funds(in GBP) to, will issue the FET (tor tor saam). All funds must have come from outside Thailand. I suspect you did SWIFT transfers from UK bank to the developer's Thai bank. The Thai bank name (SWIFT code) should appear on your UK bank paperwork. I did it differently than you. I transferred money from USA to my personal Thai bank account (TMB) and then to the developer's bank. My bank (TMB) issued the FET.

Yes, I would be much more inclined to do it the way you did also.

Presumably the developer in this instance will have some arrangement with his bank to have the FET form issued by them, as the foreign sender bank certainly cant do it.

The common fee (one year) and the sinking fund (one-off) will be payable when the keys are handed over. Permanent electric meters and chanotes will arrive sooner or later depending on the efficiency of the developer in getting such things done. Until he has a permanent meter the OP will be paying business prices for his electricity, which is a fair bit higher, so watch out for that. Water is normally billed by the building and not by the water company, so there should be no special connection fee and no delay.

[guzzi850m2]

It looks nice there, the pool is awesome man, enjoy your new condo.

http://www.lagunabeachresortjomtien.com/home

Oh one more thing, nice to see no negative comments (so far) on OP's decision of buying a condo here in Thailand.

[tatt star]

Thanks guys for yer comments and help. I fly to Thai tonight...Bkk for a couple of days then complete handover Monday in Pattaya.

The process after contact with you guys and the heights holdings team are as follows:

Pay funds from a foreign bank account into the developers account right through the process of stage payments...each times faxing the developer confirmation of transfer from yer own account...followed a few days later by them sending you via fax a copy of receipt confirmation from their bank.

Fly over to complete paperwork and on satisfaction of final inspection (after previous inspection to highlight snags).

Sign all documents. Obtain Keys. I have also had to pay 8000 baht cable tv instalation. 5000 baht temporary water metre for about 7 months use!!

2000 baht 1 off fee for water mater instalation. 1 off fee for sinking fund. 1st up front anual payment of maintenance fee, re payable at the same date each year.

I will have to pay another 5000 baht for permanent electrical installation when all condo's have completed handover and chanotes are ready to be distributed

to the relevant owners. All to take place in approx 6/7 months. No need to sign as I am told names will already be issued on Chanote but they will not send them to owners...original paperwork has to be picked up personally from heights holdings at the given time...At this point there is also the final 2% transfer fee to be paid for transfer tax to the government.

After all this I will finally own the condo out right lol.

Thought it was for the best after yer advise guys to travel personally to complete handover/ sign paperwork and obtain keys...6 month waiting game then for the Chanote and final completion but at least I can move forward and live in/ rent/ or sell it. Cheers

[ThaiBob]

Read your sales contract carefully, everything sounds pretty much typical to me. The chanote must be provided to you within a specified time frame per your contract. Out of curiosity, how much are your annual homeowner's dues, typically expressed in baht /square meter?

[loppylugs1]

I was shocked to see this project on the road to completion after months of looking as if had been abandoned,something or someone has undoubtedly put pressure on this developer to complete as all around lies dejected and abandoned.

Anyway good luck to you,lets see just how many units are actually taken up,and the maintenance costs do not land as too much of an astronomical figure on the competed buyers buyer

[KittenKong]

5000 baht temporary water metre for about 7 months use!!

I dont see how this can be justified.

[loppylugs1]

It looks nice there, the pool is awesome man, enjoy your new condo.

http://www.lagunabeachresortjomtien.com/home

Oh one more thing, nice to see no negative comments (so far) on OP's decision of buying a condo here in Thailand.

This buyer undoubtedly was an off plan purchaser,the dream of being sold an absolute pup, a dog, is alive and well here in Thailand.

The descriptive and artistic licence afforded to these so called developers is straight out of cloud cuckoo land,the actuality is the one to see when the project is finished ,..and there for all to see,,...the place looks more like prison than Pentonville,who in their right mind would buy into this monstrosity,never a hope in hell of being resold at anything like a profit.

I would take issue to with the property survey price guide as well,this is nothing but a pipe dream dreamed up by some lunatic with a computer with lets have a a re-think with a fair bit of arm twisting from real estate agencies. Asking prices,not actual bale out ,get out as soon as possible included,add another 10 million to one asking price gets the lot up to just a 1.4% fall,when in actuality a 30% fall in get shut quick is the norm

On the way back to Pattaya from BKK yesterday revealed even more pipe dream developments in giant bill boards festooning the highway,anyone who has been here for more than a fair few years it is a involutary call for the vomit bags to be deployed