buying property

[frank1957]

I am after picking your brains if I may, the house I am having built is finished but for a few teething problems, the contract to construct the house was 2,800,000 and then 400,000 for the lease and electric, water etc to be connected, this has been paid for in full, a couple of months ago I asked the developer for a settlement figure for the extra work we asked for, the price of which was not in the contract as this was a separate issue, anyway a week before Xmas he gave us the figure for the outstanding balance, I asked him why he had not given me this when first asked as the money is in a high interest account which requires 60 days notice to take money from this account, I have told him I will make every effort to pay this by the end of January I am in talks with the bank to see if I can have the money, but obviously they have rules and are reluctant to release the money, the problem is the developer is threatening to take the house back until payment for the extra work has been made and will be asking interest on the outstanding balance, we moved in on the 27th December well my wife did I am at work in the UK at the moment, I was wondering if you have any ideas on the way forward.

[petercr]

IMHO If your lease is registered and in order the developer would be hard pushed to take your home away from you for an additional work debt. Sounds to me like intimadation / bluster and bull shit to put you on the back foot. Even if the developer were inclined to take you to court (which I doubt) the timeframe for a hearing would be longer than 60days.

Pay as soon as you are able and if the developer took two months to respond to your request for a bill.........That's his problem!!

In addition, if you have any snagging/teething problems, then make sure these are attended to before making a final settlement

[frank1957]

Thanks for that unfortunately the developer has not registered the property even though the house and lease is paid for in full

[Dannie Boy]

Thanks for that unfortunately the developer has not registered the property even though the house and lease is paid for in full

Another reason why you should not pay then until the house is fully registered.

[David Nears]

I don't believe that this is possible for the developer at all,
Your construction agreement with be prevelant in this process,

As there is an absence of the additional work schedule, amount etc he cannot also charge for late payments,

So I would say that your house is safe,

Having said this, it is always in your best interests to maintain a good relationship with the developer, equally on both sides, the threat from his side is poor to say the least, however your lack of attention on the additional payment and structure is not great either,

As a result you have tension now,

I would admit that you have made mistakes and do what you can to get the invoice paid and explain correctly your mistake and detail your attempts to resolve it, get some legal advise to show him he does not have the right to re-possess the house if this is again threatened and re-emphasise that you are making every effort to resolve this and need his help, support and patience to have the best for everyone,

Good Luck

[malcolminthemiddle]

Without reading the terms and conditions of the construction and lease agreements it is not possible to give specific advice.

Reading your posts it would appear that your non Thai wife has moved into a house which you have paid for excluding extras without registration of the lease in your name putting yourself in a difficult situation should the Developer decide to act on his threats.

I think you should be very careful moving forward to prevent any escalation of the situation. Your first step is for your wife to contact a reputable local lawyer who will study the terms and conditions of the construction and lease agreements and advise you accordingly. Probably a letter from the Lawyer to the Developer confirming the date when payment for the extras will be paid after the Developer has met all his obligations including the registration of the lease and completion of any outstanding work which you will need to list for the Lawyer.

[frank1957]

thanks guys, apparently the developer's lacky went round yesterday and made her sign a piece of paper saying that all payments would be paid by Jan 31st, and I thought this developer was a good guy, how wrong can you be. so do not have a clue what happens now, pity I was not there but I'm 6000 miles away

[blue05]

without knowing all the details and just looking at the financial side, if you are really concerned would the bank not loan you the money until the 60 days then pay it out of the 60 day account? they know what you have so it should not be a problem for them??

[Dannie Boy]

without knowing all the details and just looking at the financial side, if you are really concerned would the bank not loan you the money until the 60 days then pay it out of the 60 day account? they know what you have so it should not be a problem for them??

Not all bank rules are the same but certainly for some, the 60 day rule can be breached and "all" you lose is an extra months or two's interest?

[Big Boy]

400,000 for the lease and electric, water etc to be connected, this has been paid for in full

Out of interest, what exactly are you getting for this money? Connection of electric and water didn't cost us much, so is most of the money for the lease? If for the lease, is that the usual going rate?

[frank1957]

the lease was 300,000 and the 100,000 was for registration electric water etc...I presume

[frank1957]

yes all paid in full

[splitlid]

i think it was nice of the developer to let you move in, considering you haven't paid of everything.

[fft100]

if he has paid for the lease (presumably 30 years) and it hasnt been registered at the land office, then i would have thought legal advice is required. And i would have also thought it would not be a good idea to pay the rest until that and snagging has been completed.

[Big Boy]

100,000 was for registration electric water etc