Buy back our dream home! - We don't want this rubbish, say angry Phuket residents

[Damrongsak]

My wife had a tiny piece of building lot up-country.  A usurper guy who owned the property next door built some student housing and sort of moved the property line about 2 meters.  Took about 5 years in the Thai courts to settle in her favor.  Property was in her sister's name and the azzhole didn't know the people he was really dealing with had $$ resources.  Real estate and developer people can be real scum, all the world over. 

 

I wonder how many of these projects are built by laborers from Isaan who come there during the awful dry season and aren't getting paid jack-squat. 

[USNret]

4 minutes ago, farcanell said:

 

Great advise... then you discover that the rental agent in your own country has effed up, and your unevictable tenant has trashed your investments property, costing tens of thousands to fix.... after lawyers and bailiffs intervene

 

their is no easy solution, you roll the dice, and take your chances.

 

I can only say that I'm smarter than that. I hire reputable agents who fully screen prospective tenants with references. I generally rent to mid-grade military officers since my house is near major military bases.  Folks like this don't trash your house  because they know your next step as a landlord is to write to their commanding officer, which creates all sorts of career problems.  It's worked for me, but we all have our strategies. If you use a cut-rate rental agent, you will get cut-rate results. 

[farcanell]

7 minutes ago, USNret said:

 

I can only say that I'm smarter than that. I hire reputable agents who fully screen prospective tenants with references. I generally rent to mid-grade military officers since my house is near major military bases.  Folks like this don't trash your house  because they know your next step as a landlord is to write to their commanding officer, which creates all sorts of career problems.  It's worked for me, but we all have our strategies. If you use a cut-rate rental agent, you will get cut-rate results. 

 

More great advise... if you live near a military base

 

either way.... as I said..... it's a gamble..... and I hope you remain smarter than me

 

just like the stock market is a gamble... or any other get rich quick scheme... like counting cards in vegas... some loose... some gain

 

I hope your good fortune lasts, and wish you the best of luck.

 

that said, my initial 300k purchase here, is now worth 500k on a fire sale

my second 250k purchase here, is now worth 350k, on a fire sale

 

and I pay no rent, which is wasted money, in some peoples view.

 

there is no easy solution, you roll the dice, and take your chances

[2fishin2]

Rule of thumb.. if you cant fix it or afford a replacement, dont buy it!

Huh? So you can fix anything you own? Ridiculous statement which has no relationship to the OP


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[futsukayoi]

On 11/12/2016 at 1:50 PM, mcfish said:

Of course but that doesn't change the fact farang can't get a loan and not many would have that money in cash. I would love to Know what percentage of farang actually do have that type of cash. At a wild guess I'm thinking about 50 to 1, probably much higher

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In Koh Samui I would imagine the vast majority of Farang have at least that much cash.  Many are retired and have their pension pot.  If they have been working in the public sector that could easily be worth 50 million baht plus.  many others have sold or downgraded houses overseas and are buying large properties here and pocketing a large amount of cash as well.  I would also imagine most who are in regular employment could get a housing loan for that amount easily in the current low interest rate environment.

[anon4637435435]

On 11/13/2016 at 11:42 AM, Morch said:

 

Perhaps not that easy to apply.

Many ordinary folk would have double what a house costs stashed on the side. Many houses are financed by loans/mortgages etc. which carry long term commitments. So replacement is not always a viable option. Fixing things by yourself - well, small stuff is one thing, trivial even. But handling serious construction faults, that can amount to re-building a house, is not something most people are up to. Especially not with regard to a newly bought property.

 

I certainly could have elaborated more but the jist is it helps and thats the point. Moved here too long ago and ended up building places for my family. No skills to begin with but will never buy again. Alot of these places cost a couple hundred thou and sell for millions and if they dont fall apart you can bet money your neighbours will drop the future worth. It can be a big money pit to keep things right. Big loans are for those that check reciepts at the cashier yet never check the cost of concrete and labor.   

[anon4637435435]

On 11/14/2016 at 3:39 AM, 2fishin2 said:

 

Huh? So you can fix anything you own? Ridiculous statement which has no relationship to the OP


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Yes, and if i cant ill figure it out but thats me. Some people just dont have diy dna. Since moving here as a signwriter with little diy skills im now doing most myself. have my own machine shop, earth moving equiptment, etc. The statement rings true. 

 

[hanuman2543]

On 11/13/2016 at 1:10 PM, mortenaa said:

Im building a pool villa. 5years warranty on house. 10 years on the pool. 

Wait till you want to claim something which is covered by your 5 years guarantee.Hope you know a good lawyer and that you have the funds and time for a decade of fighting in severalThai courts.

[mortenaa]

34 minutes ago, hanuman2543 said:

Wait till you want to claim something which is covered by your 5 years guarantee.Hope you know a good lawyer and that you have the funds and time for a decade of fighting in severalThai courts.

 

Thank you for your good advice. But I can inform you that the developer is a friend, I know where he lives, and we speak the same language. So if he doesn't behave i'll give him "a box on the ear" 

Edited November 15, 2016 by mortenaa

[NickJ]

The last house I owned. I had for ten years. It was near perfect. The builder was an American. If anything did ever go wrong he would have it fixed. The build standard was very high. There are some decent developments out there. You just need to know what to look or ask for.

[NamKangMan]

On 14/11/2016 at 3:47 AM, mortenaa said:

It says my name on the Chanote, and no one else's.. 

 

 

Sure it does.  Which means a whole lot, doesn't it?