Art on the Hill condo debacle in Pattaya

[Phil1975]

I bought in AOTH after completion and asking a guy who bought off plan only paid 85k more than him. I've bought my second unit off plan and supposed already "made" 400k in 6 months on the money needed to buy same unit via developer. I guess a large part on making off plan is how buoyant the market is when selling. I have 3 years until it's ready. Supposedly. Or I could flip it....

 

Obviously my second unit is NOT with Matrix!

[khawmak]

I have bought units in Pattaya before for investment purposes and aside for a couple of small delays I made money on all of them. Not all builders are bad but like every other kind of investments there are risks involved. Don't invest in anything if you can't afford to loose it if it all goes bad. Do your research.

 

Due to Matrix's record, customer service, trickery and down right blatant disregard for their customers I would advise anyone not to buy with Matrix. Not worth the Hassel and they will lie to your face time and time again about everything.

 

It looks like it is a hard sell right now for condos in Pattaya due mostly to over supply and the devaluation of many currencies around the world against the that. Most noticeably the Russians. If AOTH was completed on time two or three years ago we would have missed this down turn.

 

But in a few years the launch of new developments might slow and currencies might rebound and that might result in more demand and profits to be made again.

[RabbitRun]

I've been lucky on the timing of my purchase; I'm paying about 10% less than I initially expected to due to the USD strength. That's on top of the appreciation of the unit price (yes, the top end projects are still going strong, those that offer the most in facilities). In Jan '15 I put myself on a call list with my developer to notify me if any buyer defaults on their purchase so that I can possibly pick up a bargain. Have yet to receive a notice, even tho there are 1,112 units. No doubt there are plenty of minimal facilities cracker box condos that will sit empty for years.

 

On another note, the Atlantis Resort completed by my developer last year, announced "ready for inspection and title transfer" on Aug 31, '14 and posted photo of a buyer receiving title and keys in Sep '14 (followed by lots more photos over the next 2 months). That's the way it should be.

[RabbitRun]

Hey Phil1975 or Khawmak, has anyone thought of visiting the Land Department and asking to see the Certificate of Occupancy? I would think they'd let you see it if you showed them your contract with Matrix.

[RabbitRun]

The original plan had a Sauna and Jacuzzi as well. I wonder if we can sue these cunts for false advertising?

Phil, I found something that might help, notwithstanding the lack of a facilities plan in your contract:

 

CONDOMINIUM ACT

 

B.E. 2522 (1979) as amended 2008

 

Section 6/1 In the case of a person having freehold ownership in the land and building in accordance with Section 6 has made the advertisements to sell the units in the condominium, such person must keep in his office copies of the advertising contents or pictures or letters of induction advertised to the general public regardless of in whichever the forms until all units are sold out and, in addition, at least, one set of copies of such documents must be forwarded to the condominium corporate for retention, as well.

 

Regarding the advertisements on the sales of the units in the condominium on the part relating to the evidences and details set forth under Section 6, the advertising contents and pictures must be identically corresponding to the evidences and details submitted along with the application for registration and must clearly indicate the details relating to common properties apart from being provided under Section 15.

 

The advertising contents and pictures or letters of induction shall be deemed to be an integral part of the Agreement to Sell a Unit or the Contract of Sale of a Unit, as the case may be. Should the meaning of any contents or pictures be contradictory to or inconsistent with the contents in the Agreement to Sell a Unit or the Contract of Sale of a Unit, the construction thereon shall be made in a manner advantageous to the party to buy or the party buying the unit.

 

=================

What do you think, Phil?

[Phil1975]

Sounds interesting Rabbit thanks for that info. It would need checking with what's onfile at the land office as Matrix will just lie through their teeth.

[Phil1975]

Hey Phil1975 or Khawmak, has anyone thought of visiting the Land Department and asking to see the Certificate of Occupancy? I would think they'd let you see it if you showed them your contract with Matrix.

I'm thinking about visiting a solicitor next week when I have time (diving next few days). I want legal advice on the Chanote or continued lack of.

[RabbitRun]

I'm thinking about visiting a solicitor next week when I have time (diving next few days). I want legal advice on the Chanote or continued lack of.

You may want to consider posting to ThaiVisa.com in their "Ask a Lawyer" forum topic. It's free for ThaiVisa members. A reputable Thai lawyer will respond in the public forum within a couple of days.

 

BTW, I think you may be using the term "chanote" incorrectly. I believe it refers to a land title, not a condo situation. It's just called a title deed for a condo, if I have that right.

 

One interesting post in that "Ask a Lawyer" topic:

 

Dear Sir ,

I purchased a condo with a friend in dec 2013 . We are some 8 months later after many requests still to receive Deeds to our property ( paid in full ) .

After consulting a lawyer we discovered ( to our abject horror !!) that in the event of the developer going broke the bank can re possess the property and all condo owners are out on the street. We have again requested the owner through our lawyer to supply title deeds as requested .

Are there any alternatives to a lengthy and perhaps costly which will take at least 1 year .

Your advice as to alternatives to this action would greatly be appreciated.

[ManFromEurope]

I would agree 100%! Off plan buying is absurd and risk taking. So many completed projects are readily available in Pattaya thus off plan game is only for first time buyers.

[ManFromEurope]

I'm thinking about visiting a solicitor next week when I have time (diving next few days). I want legal advice on the Chanote or continued lack of.

[banksy35]

I think Matrix lost it's way when the co-founder Rony Fest past away. I'm pretty sure Matrix invented the concept of low cost resort style developments with park lane, and won an award for this. I've also, bought with Heights Holdings, and interestingly Matrix and Heights Holdings were once the same company, but split a few years ago. Heights holdings also delays it's projects and hasn't paid out any compensation, on laguna beach resort 2, they have used a clause in their contract and blamed military rule for lack of construction workers. I have also, bought in City Center Pattaya with Matrix. The builder is skyline and they seem to be really trying to impress. If you go and see the showroom, it looks very good. I think I'm glad I still bought the condos in Pattaya as the Australian dollar has declined about 30 per cent since I made most of my payments. I never counted on them being the best investment in the world, just a few dribbles of cash from them is what I'm looking for, and a place to stay in my favourite city in the world.

[pattaya08]

Hi guys. I'm moving in now, just got the key yesterday.

So I called a guy for make curtains, bot he is loses for songkran and won't open again before the 20th.

 

Do any of you guys have recommenations for a good curtain maker that is not closed for songkran?

 

Thanks

[RabbitRun]

Hi guys. I'm moving in now, just got the key yesterday.

So I called a guy for make curtains, bot he is loses for songkran and won't open again before the 20th.

Do any of you guys have recommenations for a good curtain maker that is not closed for songkran?

Thanks

55555 good luck with that, buddy Can't imagine any tradesman working during Songkran, other than those selling beer or waterguns.

 

Edit: Any problems with the condo workmanship?

[pattaya08]

55555 good luck with that, buddy Can't imagine any tradesman working during Songkran, other than those selling beer or waterguns.

Hehe [emoji13]

I was lucky, a lady from theprassit curtain is coming over tomorrow. They are closed on Sundays

[Phil1975]

There is a curtain place upstairs at top elevator near Home Pro entrance in Big C Pattaya Klang. No idea if open but worth checking

[pattaya08]

There is a curtain place upstairs at top elevator near Home Pro entrance in Big C Pattaya Klang. No idea if open but worth checking

Thanks Phil. I have a appointment with a lady from theprassit curtains, she is coming over tomorrow[emoji3]

 

Was scared a moment there that I wouldn't be able to get this fixed before I going home on the 25th.

[Phil1975]

You just stay here for s holiday home pattaya08? Seems like there are a few people I know do that. My next door neighbour being one.

 

How is your room, any issues?

[pattaya08]

 

 

You just stay here for s holiday home pattaya08? Seems like there are a few people I know do that. My next door neighbour being one.

 

How is your room, any issues?

Phil, yes I just stay for holiday. I been to Thailand about 30 times, only stay cheap hotels so not seeing buying this unit will save me money, but I don't need to bring everything back to Norway. I can also buy a motorbike as I have the parking basement.

 

How about you? You live here?

 

I haven't seen any issues with the room yet so hope it stays that way.

 

Magnus

[Phil1975]

Hi Magnus

 

Yes I live here, have done for a couple of years nearly but was working overseas most of the time until Nov last year. Been visiting here on and off 5 plus years

[pattaya08]

Hi Magnus

 

Yes I live here, have done for a couple of years nearly but was working overseas most of the time until Nov last year. Been visiting here on and off 5 plus years

Nice, would love to be living here.

 

I work offshore on 2/4 schedule that's why I have so many trips, have been coming here for about 5 years.

[ManFromEurope]

Phil, yes I just stay for holiday. I been to Thailand about 30 times, only stay cheap hotels so not seeing buying this unit will save me money, but I don't need to bring everything back to Norway. I can also buy a motorbike as I have the parking basement.

 

How about you? You live here?

 

I haven't seen any issues with the room yet so hope it stays that way.

 

Magnus

Phil and Magnus,

I had a chance to inspect my unit and indeed had some issues.

Leaking toilet, wall patching and missing paint, missing tile grout, cracked silicone, etc.

It is Thailand and this condo certainly far from luxury but small things like that are annoying, especially after waiting for 3 years...

I've noticed that gym is somehow being progressing and hoping to be back in January to see some difference.  

[RabbitRun]

Hi again, hope everyone made it thru Songkran ok ;). Right now, its raining buckets in Bangkok and it makes me wonder how your area around AOTH handles the typical flooding? I read in the Pattaya media that during last month's downpour, the only roads not flooded were Theppraya and Thepprasit roads (one of the reasons I bought into Grande Caribbean).

[Phil1975]

Zero flooding at AOTH or anywhere close by. It's a hill and we are near the top. No run off into car park either.

[RabbitRun]

Zero flooding at AOTH or anywhere close by. It's a hill and we are near the top. No run off into car park either.

Good to hear, Phil ;)

[Phil1975]

Ok so after further chasing Matrix has stated to me that the Chanotes will be issued by ...... Wait for it....the end of the year!!!!!!! Who else is up for seeing a lawyer? Or all you people happy with paying double for electricity and Matrix still owning your property a year plus after final payment?