cheekyboy Posted July 8, 2009 Report Share Posted July 8, 2009 Buyers lodge complaint over unfinished condo project Some 31 people who paid deposits on rooms in a luxury condominium project in Bangkok lodged a complaint Wednesday with the Department of Special Investigation. The buyers accused the project owner of fraud, following four years of little progress on the building. The buyers made statements and presented documentary evidence to show they had paid a total of Bt28 million in reservation fees and a fifth of the price of each unit to the managers of Instyle Estate Ekkamai Co Ltd. Instyle had promised to erect the 23-storey building by this month, they said, but only a few pillars had been staked at the Sukhumvit 63 site since advertising for the project appeared in March 2005. Deputy DSI directorgeneral Suchart Wonganantchai said the DSI would accept the case after verifying the buyers' claims. The Nation Link to comment Share on other sites More sharing options...
cheekyboy Posted July 8, 2009 Author Report Share Posted July 8, 2009 buying off plan not a good idea in these times Link to comment Share on other sites More sharing options...
Faustian Posted July 8, 2009 Report Share Posted July 8, 2009 Yeah, but this one was planned before the downturn....seems they have been mightily ripped off! Link to comment Share on other sites More sharing options...
WorldFun Posted July 8, 2009 Report Share Posted July 8, 2009 umm what recourse may early buyers have in such a case? http://www.instyleestate.com/en/aboutus.html surely not the most reputable of companies never heard of it, but web not unconvincing although not updated since 2006? good luck! Link to comment Share on other sites More sharing options...
WorldFun Posted July 8, 2009 Report Share Posted July 8, 2009 full (sad foreign buyers) story here: http://www.prakard.com/default.aspx?g=posts&t=58455 BTW the consumer protection board is that the weird shaped big ass new building on chaeng watthana rd? If yes I do feel safer as a local consumer (that this agency at least was able to finish their own building) Link to comment Share on other sites More sharing options...
kamui Posted July 8, 2009 Report Share Posted July 8, 2009 Current state of the "Charisma" project. Link to comment Share on other sites More sharing options...
clubsiam Posted July 8, 2009 Report Share Posted July 8, 2009 5.000 empty condos in Bangkok and some want to buy one that is not even built. Not smart. Link to comment Share on other sites More sharing options...
Torneyboy Posted July 9, 2009 Report Share Posted July 9, 2009 What a mess ... i fell sorry for them as i think the money is long gone.. We are looking to buy at the moment ....but i want to see the product before i part with hard earned cash.... Also pays to research ..we looked at one in HH on the six floor....found out another building was going up right in front of ours and Eight floors...so the sea view was lost Link to comment Share on other sites More sharing options...
shygye Posted July 9, 2009 Report Share Posted July 9, 2009 ... and of course condo maintenance fees can disappear. Link to comment Share on other sites More sharing options...
Flashermac Posted July 9, 2009 Report Share Posted July 9, 2009 How does one stalk pillars? About 20 years ago my employer and his wife paid 8 million baht for a nice big condo they moved into. Then one day all of the building's residents got a notice from a bank. Seems the agent had run off with the money and never paid it to the real owner, the bank. The bank demanded the residents pay for their condos a second time, start paying rent or get out! Since my boss was a real tightwad with his employees, we all thought it was karma in action. Link to comment Share on other sites More sharing options...
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