im just back from pattaya last month, building work on ccr has been slow, i was talking to a guy there who overseas the construction ( farang ) who is not in any way connected to matrix developers. the guy told me that he has heard from a very good solid source that building work is going to stop , asked why he said matrix have run out of money. now my friend has just called me to say he has been round there today and said there are no workers on site. he also sent me up to date pics and it seems the building work has not progressed any since i was last there 4-5 weeks ago

i have the contract and it states i,ll get my money back if building is not completed. but if matrix have no money then who pays me ? my condo is in a thai company name although no company has been formed as yet. just wondering should i get it into my thai wifes name quickly incase these are not only rumours.

Yet another troll post

New hobby or just an old habit?

Last thread, was divorced, this thread has a wife

Condo in a company name, a company which does not exist.

Spoke to foreman, yet foreman not connected to the developer

Here on Phuket many constructions have been halted. Good. Although who's going to tow away all the half built rubble ..

Buying off plan is based on a contract of a promise for a promise.

And the promises are unsecured.

I suggest you re-read my comment to you from four months: http://www.thaivisa.com/forum/topic/833543-where-would-you-buy-a-condo-city-centre-beachfront-rural/?p=9528450

There is no doubt in my mind that if I was in your situation, I would do whatever I could to get out of this. Transferring ownership to your (ex)wife is not making the situation any better for you.

What does your contract say about completion date and delays?

If you’re in a weak position, you might consider suggesting a settlement, e.g. only getting 90% back of what you have paid.

Good luck, I think you will need it!

i have the contract and it states i,ll get my money back if building is not completed. but if matrix have no money then who pays me ? my condo is in a thai company name although no company has been formed as yet. just wondering should i get it into my thai wifes name quickly incase these are not only rumours.

As usual you are a bit short on detail. And that's always where the devil is.

Is your contract with Matrix or some subsidiary? It's common for developers to create a new company for each development precisely so as not to have too many liabilities hanging over the mother company.

I dont think that changing the name on your contract will have real effect at the moment, and I'm sure that there will be a charge made by Matrix for doing so. But I am not a lawyer.

Did you ever get an estimate from a real estate agent as I suggested? Without that (or, better, several of them) you really are floundering in the dark.

i have the contract and it states i,ll get my money back if building is not completed. but if matrix have no money then who pays me ? my condo is in a thai company name although no company has been formed as yet. just wondering should i get it into my thai wifes name quickly incase these are not only rumours.

As usual you are a bit short on detail. And that's always where the devil is.

Is your contract with Matrix or some subsidiary? It's common for developers to create a new company for each development precisely so as not to have too many liabilities hanging over the mother company.

I dont think that changing the name on your contract will have real effect at the moment, and I'm sure that there will be a charge made by Matrix for doing so. But I am not a lawyer.

Did you ever get an estimate from a real estate agent as I suggested? Without that (or, better, several of them) you really are floundering in the dark.

You missed the point for the second time.

He owns nothing.

No one owes him anything.

Contract is in a company name, which does not exist, he has no shares in it or any affiliation to it

He is a troll, because it is not possible to be that stupid, to pay full amount and have a contract in fictitious name

Suspected Troll post