CD HOUSES BANY

[dozer]

Looks like another scam here, it’s so unfortunate for the people involved and for HH whose reputation is already at an all time low.

[hec]

Margaret,
yes of course the Banyan golf estate are still marketing and renting our houses out ,probably need cash flow to keep there business afloat. I dont think you live in Hua Hin Margaret otherwise you would know the Banyan golf estate its big, and well known locally , the people that are actually staying in our properties are holidaymakers /golfers they only stay on a week to week basis ,as I say they charge the holidaymakers tenants 8,000 Baht a day , and they pay us the owners 8,000 Baht a week, there is another issue in this estate regarding the way they advetised these properties for sale , saying on their sales brochures that there would be a private road over the mountain to the Banyan golf course, providing direct access, this road has not and will not be built , so it is 14 kilometres by road to the estates "golf course" a house on a golf course estate is easier to sell and worth more than a house on the side of a busy motorway, as it is, these people who own and mange this estate behave scandalously, they have said and would simply say anything to sell these houses , what do you call a person who makes false statements in a effort to sell their products ?

[dozer]

, what do you call a person who makes false statements in a effort to sell their products ?

A Hua Hin real estate agent/property developer

[zevon]

The houses we own were sold as investment properties with guaranteed rents . The Banyan (Red Tulip) their trading name , are in control of the utilites into the houses,so they can still use that to control their victims.

You really need to have a good lawyer look at your contracts especially if in Thai and see exactly who you have been doing business with and what exactly are the specifics as to responsibilities/liabilities of all contract signatories.

The Banyan website list 4 companies involved in the project

Blue Lotus Construction Co. Ltd: builds and sells investment homes and villas
Blue Lotus Condominiums Co. Ltd: builds and sells condominiums/apartments
The Banyan Golf Club Hua Hin Co. Ltd.: operates the Banyan Golf Club
Red Tulip Holdings Co. Ltd.: operates the Banyan Resort

All under a holding company - Blue Lotus Hua Hin (Thailand) Co., Ltd.

The principals appear to be Netherlands based

[crazy88]

Any of you are welcome to PM me for the details of a REAL lawyer that will not be afraid or too wrapped up in local "politics" to take a case of this magnitude.

Crazy 88

[hec]

Crazy 88
He made an interesting observation on the last message .
If you go into the Banyan Estate website there is a picture of one of the directors Mr. Arnold Ruijus surrounded by uniformed Thais , he is making a donation to the Singkorn Immigration Office , so the Banyan can make donations but they cannot pay their liabilities , wonder why you would make donations if you cannot pay your bills, anybody know the answer to that.

[crazy88]

Just a general observation on things here. Never even looked at the site. The club does do a great burger though.

Crazy 88

[tonymaroni]

Crazy 88
wonder why you would make donations if you cannot pay your bills, anybody know the answer to that.

Sadly we all know the answer to that one, it is to keep the business going, what ever was said to the Farangs when the units were sold, doesn't really matter. After all they are only Farangs anyway.

[Jim]

For goodness sake go and see a lawyer. Guaranteed rental agreements have nothing to do with whether the property is rented out or not. You pay your own rentals in your purchase price and the company then just pays it back to you over the time of the guarantee (neat arrangement, huh). Any rent they get is just a bonus to them, you've given them an interest free loan! The most likely reason for non payment is cash flow issues with the original seller - you need a good Thai lawyer.

[hec]

Jim ,
I think you are missing the point here , they are renting our houses out , they are making money on our properties they are just not paying us .
This situation is not the usual of the so called guarantee , they would have liked to build them, keep them and then keep all the rents they could not afford to do that ,so this is not the usual case of making a property attractive by offering a false guaranteed rent , and couldnt rent them out , they do rent them out they just done pay us. this is different./

[crazy88]

Strange bit of edited text there Tonymoroni. Any particular reason?

Crazy 88

[caller]

Out of curiosity, unless regularly on site, how do you know they have really been rented out as claimed?

Now I am no golfer and know nothing of the golf scene in HH, but it seems a tall order to have x houses (how many are there?) rented out for x time over x period, despite the popularity of golf in town.

Couldn't that be part of the con i.e. promising returns they couldn't make, or were being too optimistic about? Hasn't that happened in loads of places across the globe in the last decade?

[icebear]

Hi Hec

Thanks for your reply.

The next question would be with which Company you signed your contract of the 4 Companies mentioned in another post. I hope they've not moved the goal posts to far.....

As I recall, when they just about started constructing the houses, the former owner opted out and sold whatever he still owned at that time to a new owner (maybe change of company) and this could depend on whether you have a legal case or not.

[Big Boy]

Out of curiosity, unless regularly on site, how do you know they have really been rented out as claimed?

Now I am no golfer and know nothing of the golf scene in HH, but it seems a tall order to have x houses (how many are there?) rented out for x time over x period, despite the popularity of golf in town.

At 8000 Baht a day for 100 houses (I think that's what was quoted), I find it very hard to believe that they'd achieve 100% occupancy 365 days a year.

[hec]

OK lets accept the fact they werent rented out every single day of the year .

The owners arent allowed to use them between December to end of February because that is there busy time, so most rented out at that time , anyway the owners never got one Baht in rent all year , so they might not have been rented out every week ,but they were definately rented out a lot of weeks, but we got absolutely nothing in rent for the whole year.