investing in a condominium

[cybernator_uk]

Originally Posted by cotambear

I would (humbly) suggest that anyone considering a major investment/retirement/house purchase, spend at least 6 months living here renting before committing.

That is the best advice. I have been contemplating maybe making a purchase in the future (not yet). But really on such an investment like this especially so far away from home its something you really need to be sure off. Spending 6 months out there minimum is the best way to find out if you can really live there, which is what i plan to do at somepoint in the future.

[shark1963]

Originally Posted by UKguy

oh right.

so you mean dont do it then? This aussie guy who is the developer has rung me and also sent paperwork to set up a thai company so that I can buy the condo if I want to. It sounds all above board to me. Why do you think I couls get ripped off buying it then?

I am wondering why you should set up a company to buy a condo. As i know this is not neccessary for a condo. Only if you want to buy a plot of land,which is not possible for non-thai to buy,the trick with the company is one possiblility to own land.But as already mentioned you need thai partners for the company too and they will hold the major shares.For a condo you dont need a thai company, just have to check that about 45% (not exactly sure about it) of the apartments are owned by thai, as i know. You should do a research in the web.There are many sites with helpful information. If you are married with a thai woman its different again. Your aussie apartement developer should know that, wondering why he don´t?

[LivinLOS]

In his situation I think the 49% that can be sopld to farang ownerships have already been sold... So he would be using a company to buy one of the condos that would be for non farangs..

Wonder how that would impact sale and resale values ??

[shark1963]

As i understood , he doesnt want to use the apartment fulltime, i wouldn´t buy anyting,also never been there looks a little bit crazy. And crazy_gman sounds like a sales agent for this property, sorry just my impression, maybe i am wrong and you are just very proud of your new condo. I would also do nothing without a lawyer, and maybe not one of the locals, as you dont know how they are involved. i read this advice on a website concerning to this topic.

[crazy_gman]

Hey Shark1963, I am just very excited about my purchase, I am not a sales agent nor do I have anything to do with the company.. I live in Canada and someday will end up there year round, and I have been there a number of times.
Yes LivenLOS is correct, they have already sold 49% to foreigners, so I had to buy with a Thai company, and yes I did use a non Thai lawyer.

That being said my advice to anyone who is looking at purchasing a condo or house, is go there, visit the place, do the research then go back again, and do the research all over, make sure you know exactly what you are getting into. Never buy site unseen. Once I decieded which condo I was buying after being there for 3 weeks in March, I went back again in April to sign the papers to make sure everything was still the same, and i will go back again in Novemebr once the condo is built to make sure it was built to the specs before I give them the rest of the money.

Gman..

[ruby123]

Originally Posted by crazy_gman

Hey Shark1963, I am just very excited about my purchase, I am not a sales agent nor do I have anything to do with the company.. I live in Canada and someday will end up there year round, and I have been there a number of times.
Yes LivenLOS is correct, they have already sold 49% to foreigners, so I had to buy with a Thai company, and yes I did use a non Thai lawyer.

That being said my advice to anyone who is looking at purchasing a condo or house, is go there, visit the place, do the research then go back again, and do the research all over, make sure you know exactly what you are getting into. Never buy site unseen. Once I decieded which condo I was buying after being there for 3 weeks in March, I went back again in April to sign the papers to make sure everything was still the same, and i will go back again in Novemebr once the condo is built to make sure it was built to the specs before I give them the rest of the money.

Gman..

Good sensible post..............did a very similar thing in pattaya recently