We’re always being warned about bad behavior by Thai people to farangs, what about when a seemingly above board, foreign owned property company massively rips you off?
I’m based in England because I can’t afford to live here full time yet; in January 2012 I was approaching 65 and stuck in ice cold England, wondering how much longer I had left in this world. I decided it was time to take some firm action by investing in a studio flat here in Jomtien. I’ve stayed at Majestic Condos a lot and thought I’d buy a room there; I began a search on the internet and after a short search I found a room for sale that I could afford on an easy payment plan. I was able to put half the cost up front: GBP equivalent of 425,000THB. By scrimping and scraping I was able to pay the balance off 1 year early, and I’ve come over to do the title transfer. I have been scammed by their selling me a condo in Thai company ownership name and it seems I’m a 49 percent shareholder in my own condo. I’ve been told that I won’t be able to sell it because it’s in a company name. My only option is to either live in it or rent it out when I’m back in England.
I think you should highlight my plight Hillary to make other potential condo buyers aware of this potential pitfall between Thai ownership and foreign ownership
I have had to shorten your letter somewhat, sorry, and I have also omitted the RE company’s name, as I am only getting one side of the story, and it is unfair to publish without the other side of the argument. You are another person who needs to talk to a good Thai lawyer, not Hillary, to find out your options.