Legal issues related to buying land, houses, condos in the LOS. Anything about contracts. Finance related, such as getting a mortgage, buying property from the bank, etc.
thomas.fontaine wrote:I am on my way to close a deal with a local Builder for the construction of 200m2 house
1. Scope of work. Have a clear and detailed list in the contract of what we are buying (including bolts and accessories for the roofing) + a signed set of drawings, including electricity details (number of plugs, switches and lights...). Everything else not mentioned in this list and shown in the drawings is understood to be for the builder.
2. Payment schedule. Try to achieve a neutral cash flow to avoid risk of loosing money if the builder leave the Site, as it can happen sometime. For the moment, we have defined 8 completion milestones: 5% down payment at contract signature, 10% for the piling, 10% for the 1st floor, 20% for the second floor, 10% for the roof structure and the walls, 10% for the roof, 20% for plaster, parquet,floor tiles, doors, windows an plumbing, 15% for outside stairs, electricity, painting and cleaning of the Site.
3. Guarantee of the work after completion of the house. I need to think about this one.
4. Schedule. Stipulate a start and completion date in the Contract with an associated liquidated damages per week.
gidday jazzman its the thai fly from mae rim..take a peep..5%..initial payment..very sucessful build...by thomas. .maybe he can confirm how the above contract went ...its a WALT DISNEY GIDDAY TO ALL..its the thai fly from mae rim
chorizo wrote:What is the usual for a deposit at signing of contract ? My contractor wanted 20% but i think this is way high. 10 % sounds more reasonable ? He thinks this is ok. Maybe i should have said 5%.........
My Thai wife does not want to give anything...her Thai ex builds houses and got 300,000 plus on deposit (not from us) and left the area...
We have 5 payments..10,20, 25, 25, 20 % with 50,000 being held for 3 months. Contract guaratees some for a year. Contract in English and Thai.
I also will have copy of Contractor ID plus al workers.
Am i on the right road ?
Thanks ,
Chorizo
gidday jazzman. ..please read the post before also .another sucessful build..yes have look at the contract..and post...yes he was on the right road in particular his shelias comments ..wake up jassy 25% down payment ...you are in wacko land as well...its a fired up gidday to all ITS THE THAI FLY FROM MAE RIM
