off the plan condo c/mai

Any story related to building in the LOS, whether everything turned out hunky dory or not!

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Re: new member

Postby geordie » Thu Aug 23, 2012 10:54 pm

the.maestro wrote:never had the same journey twice

so , the maestro , is about to embark on a buy off a plan condo in chiangmai
this project is different to others in chiangmai, as presently its been a concrete shell for 20 yrs or more

my story i am sure will snugly fit into cth board, as, its being a buy off the plan scenario, it is a new concept,

the maestro


Seems the same up north
my comments may be wrong but never deliberately
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Re: Buying a c/mai condo off the plan

Postby the.maestro » Fri Aug 24, 2012 7:53 am

Shastadad wrote:Let's not get ahead of ourselves here. We need to wait until the purchase has actually gone through, since one of the things that I have noted here in Thailand is to never buy anything off plan......all you have to do is ride through Bangkok and see all the unfinished hulks of buildings never completed for an object lesson


thks unclezillion for your warm welcome

hi shastadad, i certainly agree that your above post could well be very true, mutch the same here in c/mai prior to say approx 2005/2006, since then a massive building boom (still continuing)have restored many of these projects(big and small) or have been razed to make way for new ones

since say approx 2007/2008..a condo boom begun, during my 3 month research, have not come across any tits up projects(8 storeys and upwards) in c/mai,and certainly keep my fingers crossed that my fair lady will not become a casuality in the above statement

lifes a gamble

the maestro...P.S. pics to come over the w/end
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Re: Buying a c/mai condo off the plan

Postby geordie » Fri Aug 24, 2012 10:13 am

I find things a bit strange over here ? From what i gather if you buy a house off plan on a Moo Baan you pay in increments as and when you choose ???
In Spain that is the same system you buy with a large deposit then agree stages that you will pay obviously if the developer fails to meet his agreed target you withold his payment you fail on the payment he witholds his labour
The point i am getting at is the system the same here more of relevance, is the system the same with condo,s
In spain it is an unfortunate fact of life that you could borrow money using property as security without registering the fact (could well have changed) So the developer borrows against the land to start the project
sells a few units and borrows against those units to start building borrows further because the units are selling slowly and he needs to complete a few to get his funds rotating the sales grind to a stop or 1/2 a dozen people fail to get the finance they needed to pay him in the meanwhile he has become used to his lavish lifestyle funded by future earnings when he has completed and sold all these units so he goes to another Bank and borrows again against the properties :( at some point in life he works out that even if he completes and sells every unit he has not enough money to pay off all the various loans But it don,t matter too much because the boat the cars the houses are all in his wife,s name :evil: so time to walk away
How do you protect yourself in this catch 22 situation where it might be the bloke is genuine but only completes 50% of the units 25% did not sell 25% sold but they did not get finance
I am asking because all around here there is Moo Baan after Moo Baan appearing some of them ocupied 40-70% with the rest of the properties not completed IE: shell with a roof The Moo Baan i am on at the moment is 15% under ocupied i know of only 15-20 houses in a little cluster not finished the rest are sitting in a semi derilict state having been completed and either not sold defaulted or owner has never ever moved in to the house the latest trend is to move from here using the property here as security and buying a brand new house a couple of miles away again i find it strange the houses are the same style the same layout the same sized plot they endeavour then to rent out the older house or sell at a stupid price having paid 500000 they ask 1,5 million enough to pay for both properties
my comments may be wrong but never deliberately
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Re: Buying a c/mai condo off the plan

Postby the.maestro » Fri Aug 24, 2012 6:52 pm

geordie wrote:I find things a bit strange over here ?


very surprised. that its taken you that long, to find that out :lol: :lol:
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Re: new member

Postby the.maestro » Fri Aug 31, 2012 10:40 am

the.maestro wrote:
as for protecting my investment will endevour to tell members the hoops and loops, of securing a contract ,with the developer, in my building story which will start with some pics,of this beautiful lady, until then,


attention geordie, ^^^^^ clear as light, when it meets the dawn..

all your questions would have been answered as the story rolled along but your trundling on this building story, still continuied even after this post, the last one on this thread , finally broke the camels back.

and the reason is very obivious, is nt it??

chow , the maestro
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Re: Buying a c/mai condo off the plan

Postby geordie » Fri Aug 31, 2012 11:23 am

So suprised to hear from you again having said your goodbye,s already :roll:
Just a couple of ENCOURAGING responses then you revert to being a 12 year old nothing i have said or inferred was off topic icluding the last post asking YOUR experiences or anyone elses reference to buying a condo off plan + payment terms or moo baan payment terms i even put in an explanation of what i thought it was based on my admittedly limited experience but i did not introduce myself as having both built and bought property here therby inffering i was experienced If you have no wish to see comments start a blog and don,t invite responces
and having took the time to post my limited experiences with a caution and some questions (unanswered)its a bit rude of you to condem me then spit your dummy out BTWwhat happened to the pictures ?



the.maestro wrote:
hi geordie, thanks again for your splendid advise
will cover the above in my building story
pics will follow shortly
the maestro.
the.maestro wrote:
hello geordie, very true words my friend.
my comments may be wrong but never deliberately
If it aint broke, dont fix it
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Re: new member

Postby geordie » Fri Aug 31, 2012 11:26 am

the.maestro wrote:hi to all,
my name is the maestro, been a chiang mai expat for 15 yrs.during this time have rented .bought property, built two new houses, etc etc




regards to all,

the maestro
my comments may be wrong but never deliberately
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Re: Buying a c/mai condo off the plan

Postby otis-a » Fri Aug 31, 2012 7:36 pm

Umm, condo....
Any idea what the cost per sm is looking like?

In Chiang rai, did some pricing and was nearly equal Riga or middle America prices.

When talking to some guys renting in bkk, the utility bills there are running double to triple what i pay in the village.

The condo i rent in CR has a utility bill that comes in about half my village bill but for only 1/8 the space.

I suppose metro living has some plus factors, but seems mostly geared to those still working.
where to park dog when in town? A barking lot... :-)))
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Re: Buying a c/mai condo off the plan

Postby MGV12 » Fri Aug 31, 2012 8:23 pm

As this thread is a personal build story and the OP has apparently decided not to pursue it the thread will now be locked.

Should he return or another member wishes to post about a similar project please start a new thread.

MGV12 - moderator

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off the plan condo c/mai

Postby maestro2 » Mon Sep 03, 2012 8:22 am

thks mr moderator mgv12, for locking my last short story,it sure was nt heading in the right direction at all
and many thanks for your kind offer to return , on the story with a new thread, its duly accepted :D

will start this story off with half dozen or so pics, in due course
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Re: off the plan condo c/mai

Postby fredlk » Mon Sep 03, 2012 1:53 pm

maestro2 wrote:will start this story off with half dozen or so pics, in due course

An exact date please. The wait after your promise the last time before you were banned created too much tension all round.
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Re: off the plan condo c/mai

Postby maestro2 » Mon Sep 03, 2012 6:16 pm

Image
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Re: off the plan condo c/mai

Postby sirineou » Mon Sep 03, 2012 6:29 pm

Nice view!! When in Thailand I live in Khon Kaen , mostly because that's where my wife's family is.
I like it there, but The country is mostly flat, No views like that :(
For that and some other reasons, if I had my choice, CM would had being the choice for me also.
Looks like they are still going up with the building, How many floors high will they go? What Floor is your unit in?
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Re: off the plan condo c/mai

Postby maestro2 » Tue Sep 04, 2012 7:29 am

sirineou wrote:.
Looks like they are still going up with the building, How many floors high will they go? What Floor is your unit in?


hi sirro, the condo was completed to the stage in the pics, approx 20 yrs ago,then it went tits up, the land(6rai) and condo has been in bangkok banks possesion since then. until very recently bought by the developers company
it is 12 floors high, my perch is on the 10th floor, end unit ( looking at the pic on the right hand side),

the pics shown so far are only giving approx 1/3 of the project,more to come later when i fix my camera(batterys keep going flat pronto)the above pics were taken from my daughters I .PHONE.

good morning otis, i refer to your question on the other thread, the price per sq metre..ranges from approx 45.000. to 56.000 sq metre (each floor u go up, another 1.000 is added to the price) fully fitted kitchen /and bathrooms ,( no furniture) electricity charges are the same as any household,as u are hooked up to the local elect dept , just the 3500 baht for installation of the metre
very nice theong abode, u have there, passed through many times(without stopping) lovely part of t/land

thanks to both of yous , for your interest
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Re: off the plan condo c/mai

Postby fredlk » Tue Sep 04, 2012 7:47 am

maestro2 wrote:the price per sq metre..ranges from approx 45.000. to 56.000 sq metre

Very expensive. :shock:
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