CM condos

[feejer]

Maybe stretching the rules here as not purely motorcycle related, but I will be living in and basing rides/adventures from this location in the future. And I would rather ask here on this forum as the readership appears to be generally astute CM residents as opposed to other broad forums littered with wannabe Thailand know-it-alls.

Anyway, looking to buy a CM condo and will be looking at some in a few months while not out on rides. Location really not a big concern as I will not be working and will not need to be anywhere regularly at any particular time. Of greater importance is the building standard and quality of management/maintenance. My request is to get a few recommended names of properties in the following catagories to minimize running around too much:

Grade A - Cost no object, the best name or names in the city. Virtually no chance of degraded upkeep over 10 years etc.
Grade B - Above average standard, well maintained now but small chance of poor upkeep in future.
Grade C - Average, value residence. Generally clean and decent upkeep, but fair chance of poor upkeep in future.

Preferred budget is 2-3 million, but could go under or over that if the right unit at the right price pops into view. Thanks in advance for any insight.

**Ahhh, please move to general catagory. Didn't see I was in the trip reports, sorry

 

[Franz]

Feejer, I bought a one-room condo which was repossessed by a bank, in December 2007 at RIVERSIDE CONDOMINIUM at CNX-Lamphun Road. It's next to Holiday-Inn and Rajaveth Hospital. Mine is just 47 sqm and has been totally restored, 6th Floor and is situated with view to Doi Saket which is convenient as I do not get the hot midday & afternoon sun. For Condos on Sale I would look at the websites of Thai Banks in CNX especially Krung Thai, Kasikorn and Siam Commercial and their offers for repossessed units. Further on you could look at www.bahtsold.com
For 2-3 Mio THB you could buy yourself a condo that's around 75-110 sqm. Just keep some funds for renovation. Location is also an important matter, any Condo near Huey Kaew & Nimmanhaemind Road are prone to heavy traffic although the location for Restaurants & Pubs is most convenient. Riverside and Rim Ping Condos are better, so are some at Cholprathan Road and next to the outer ring road. There's no way around frequent trips to CNX and having a look at what's available so you get a feel about quality and prices. To having a guarantee on services is not feasible as once the management team of a condo changes, the whole servicing can go down the drain. I would recommend you go to Krung Thai's branch on Tapae Road near Tapae Gate and ask for all units on sale by them. One more important thing, ask before you buy for written proof that the 'foreigner quota' at the unit you're gonna buy is not yet full. I must recommend all the officials at the land registration department (issuing the Chanod), PEA-Egat (electricity supplier) and the local Tambon Registration (Tabian Bahn issuing) for their very quick and effective job. It took me only 2,5 hours to get everything done in one day; in my name !!! If you have further questions, feel free to contact me by email. Cheers, Franz

 

[feejer]

Franz, excellent info and exactly the inside tack I was looking for. Never really considered the repo market, but really does make sense if some renovation is not too scary an idea. Sounds like I'll be paying a visit to some Thai banks.

 

[Franz]

Feejer, careful when offered a condo in VIP Condo at Huey Kaew Road by Thai Military Bank, somethings wrong there with the construction & drawing, staff of TMB recommended not to consider this one. One more proposal, get yourself a good lawyer (rule of the thumb: the more they cost the more efficient they are, so don't go for the "Cheap Charlies") and he/she shall provide you with sufficient info and most of all with an English translation of the latest CONDOMINIUM ACT. Good luck, Franz

 

[feejer]

Thanks for the tip. I'm sure there will be more than a few landmines to avoid in this little adventure. Such is life eh?