Retirement dreams on Chiang Mai "Hi-So Hill" shattered as foreigner pensioners conned into buying forestry land

[jgarbo]

1 minute ago, wmccpa112253 said:

May be of little consequence but they have a large capital loss that can be written off on their US tax return ( if American)

 

CPA

Surely not for the full amount? 

[wmccpa112253]

Yes full amount 

[chrissables]

6 hours ago, Thaiwrath said:

Som Nam Nar !!!!!!!!!

You get pleasure from the knowledge people's retirement funds have been swindled?

[bazza73]

1 hour ago, giddyup said:

Rubbish! I told Centrelink 8 years go, before I moved here, that I would be using $150,000, part of the proceeds from the sale of my house in Australia, to buy a house in Thailand. Didn't affect my pension one bit.

Is your pension a full OAP, or part pension? I've researched this very carefully, including discussion with a Centrelink Financial Services Officer, and I stand by what I said.

The effect of marital status and home ownership on an Australian OAP very much depends on what part of the income/asset spectrum you occupy. Possibly your pension was not affected for the reason you were still below the thresholds where tapering kicks in.

[TallGuyJohninBKK]

21 minutes ago, NeoDinosaw said:

They have very good maps. But I have yet to meet a Thai official who can read a map !

 

I think you've got a point there! 

 

More broadly, I've yet to meet a Thai PERSON who can read a map to any great extent (though I'm sure there's one or two out there somewhere...)

[bazza73]

Just now, TallGuyJohninBKK said:

 

I think you've got a point there! 

 

More broadly, I've yet to meet a Thai PERSON who can read a map to any great extent (though I'm sure there's one or two out there somewhere...)

It doesn't seem to be a skill they teach in the schools. Possibly that's why when I ask for directions, I usually get three or four different answers.

[TallGuyJohninBKK]

3 minutes ago, bazza73 said:

It doesn't seem to be a skill they teach in the schools. Possibly that's why when I ask for directions, I usually get three or four different answers.

 

I didn't know a person needed to be taught how to read a map in school. I always thought, you look at the map, look at the name of the place the map is representing, and then begin looking at the areas and/or street names to get a feel for what's where. North is usually the top of the map, south is the bottom, etc etc.

 

But obviously, my mind is too simplistic to perceive the higher level intellectual aspects of map reading!

[sfokevin]

I have yet to meet a Thai who could tell you which way is north 

[wavemanwww]

6 hours ago, impulse said:

It's cases like this that make me believe that Thailand's laws against foreigners buying land are actually humane.

 

Better to have 100 foreigners griping that they can't buy land than 50 foreigners griping that they have lost their retirement savings to land swindles, greedy wives, corrupt officials  and shifty lawyers.

 

One's irritating, with renting as a solution.  The other is devastating- and with no recourse.

 

Cannot wait to uou becoming a retiree and  gets Ripped off. Karma baby! Your logic is so inhumane it totally defies logic and compassion! PS in Australia we have an underarm deodorant named Impulse. Apt name for you Impulse.

[giddyup]

13 minutes ago, bazza73 said:

Is your pension a full OAP, or part pension? I've researched this very carefully, including discussion with a Centrelink Financial Services Officer, and I stand by what I said.

The effect of marital status and home ownership on an Australian OAP very much depends on what part of the income/asset spectrum you occupy. Possibly your pension was not affected for the reason you were still below the thresholds where tapering kicks in.

I only get about 50% of the OAP because of super payments.

[Samuel Smith]

3 minutes ago, sfokevin said:

I have yet to meet a Thai who could tell you which way is north 

Back in 2001 or so, we were driving dirt roads north of Samoeng & not sure where the road went.  Wife asked the locals.  They didn't know!

[JAFO]

6 hours ago, LannaGuy said:

I don't think it's very nice for anyone to gloat over retirees losing their life savings. They were not careful enough but I'm sorry they lost so much.

And that is one problem with TVF and its band of miserables. Same crap, same responses post after post after post. 

 

 

[scorecard]

45 minutes ago, sfokevin said:

I have yet to meet a Thai who could tell you which way is north 

 

Even better, one loud mouth in my extended family has told me several times that Singapore is immediately above Thailand on the map and Germany is just above Singapore.

 

Ask him is Singapore North of Thailand and he changes the subject. 

[William C F Pierce]

In their own country they would use a lawyer. How many don't bother when moving to Thailand is unbelievable. If anyone else is reading this, I suggest insuring against contractual losses through a lawyer (if available). Top Thai legal firms are cheaper than many Western law firms, so why take the risk. One of the best options is to buy a land lease on land of a secure estate, with land that has been previously built on. Often the land has 3 perimeter walls that you don't need to pay for. Plus easy access to water, sewage and electricity to save further costs. This is based on my own research and future intensions for Chiang Mai.

[bazza73]

46 minutes ago, giddyup said:

I only get about 50% of the OAP because of super payments.

Check this out and plug in a few figures on the single homeowner and single non-homeowner menus.

http://www.yourpension.com.au/APCalc/#CalcForm

[giddyup]

10 minutes ago, bazza73 said:

Check this out and plug in a few figures on the single homeowner and single non-homeowner menus.

http://www.yourpension.com.au/APCalc/#CalcForm

After putting in all the figures it shows that I should be getting a full pension, yet I only get $754 PF, I wonder why?

[ThaiWai]

555 suckers! I told you not to buy.

[aslimversgwm]

1 hour ago, bazza73 said:

It doesn't seem to be a skill they teach in the schools. Possibly that's why when I ask for directions, I usually get three or four different answers.

And most become boy scouts or guides. But obviously,  unlike when I was a boy scout, many eons ago, Thai scouts or guides are not taught how to read a map!

[Tofer]

7 hours ago, CNXBKKMAN said:

The over riding constant about property ownership in Thailand is that foreigners can't  own land/ houses. Evertbody knows that except young children. If you then go ahead and buy a property in the knowledge you cant legally own land/property you cant really complain when it later goes tits up! Only invest in what you are happy to walk away from. 

How has that blinkered opinion got anything to do with people being illegally sold a developer property or the land to build on.....

 

This smug attitude towards foreigners who buy property is absolutely uncalled for. There are many foreigners married to decent Thai ladies, not everyone marries gutter trash.

 

It's got absolutely nothing to do with who actually bought it or by what means, quite simply that they were defrauded. You cannot buy a piece of land without a land office registered title deed and transfer agreement, unless it hasn't got one, then it's not a purchase as anything without a title deed is not owned and as such cannot be sold, only passed on to someone else with possibly a financial consideration. I can't believe all these investors were stupid enough to buy without at least a Nor Sor 3 Cor title deed.

 

Sue the land office officials / developer / sales agent etc. as all must have been complicit in this scam. End of!

 

 

 

[YetAnother]

9 hours ago, webfact said:

Forestry chief Cholathit said that now they have been duped their only recourse was to go to the police.

well, that completes the huge black X over their chances

[free123]

8 hours ago, tomwct said:

Renting and leasing is the only way to Go in Amazing Thailand. Also I would never consider buying a Condo!.I've been

here 15 years and very happy!

u don't need to buy u only pay the money and some noodle stall lady is the official owner.. all easy happy in Los...  where there is a will there is a always a way.... or u get urself a lady best if she owns a business her self like a beer bar or a gogo... 

[Totster]

3 hours ago, NeoDinosaw said:

Maybe they did carry out due diligence.  Maybe they got a Thai lawyer to check the paperwork as confirm that all was well .........

 

 

Well, maybe they didn't carry out due diligence very well, maybe they should have researched a bit harder, maybe they have more money than sense, maybe they only have themselves to blame

 

totster :)

[hottrader77]

8 hours ago, NCC1701A said:

I rent everything in the Land O' Scams.

 

Everything.

 

This sounds like the Phuket scam where the land office, attorneys and real estate agents were all working together to skin the old Farangs alive.

 

 

maybe they can build tree houses for them instead , they just need a couple of vines and they could swing from tree to tree oh oh oh me tarzan you jane  unfortunately be very careful buying in the land of smiles ( for some and not for others )

[Si Thea01]

8 hours ago, NCC1701A said:

I rent everything in the Land O' Scams.

 

Everything.

 

This sounds like the Phuket scam where the land office, attorneys and real estate agents were all working together to skin the old Farangs alive.

 

 

Me too, just divested myself of a number of properties, monies in the bank and now I am just sitting back in  a beautiful moo ban, with a nice home, living the life of Riley.  And I don't give a toss. 

[LannaGuy]

6 minutes ago, Si Thea01 said:

Me too, just divested myself of a number of properties, monies in the bank and now I am just sitting back in  a beautiful moo ban, with a nice home, living the life of Riley.  And I don't give a toss. 

I divested, mostly, too but if you do it the right way there is nothing to worry about buying a condo or a house. Just be careful and DYOR.

[mettech]

If it is Hi So living well it is also Hi SO  loosing after all it is only money they could make some more or rent a shack much more cheaper.

[Si Thea01]

6 minutes ago, LannaGuy said:

I divested, mostly, too but if you do it the right way there is nothing to worry about buying a condo or a house. Just be careful and DYOR.

Can't buy a condo, my German shepherd needs a large yard.  As for buying a house, no thanks, had enough, don't need the worry, too old for that now.  Have a really good landlord who has given me a good deal and has no problem with helping me with the immigration BS. So it is sabai, sabai, full speed ahead.

[Tofer]

2 hours ago, sfokevin said:

I have yet to meet a Thai who could tell you which way is north 

You should get out more and meet more Thais.

[Tofer]

2 hours ago, Samuel Smith said:

Back in 2001 or so, we were driving dirt roads north of Samoeng & not sure where the road went.  Wife asked the locals.  They didn't know!

Couldn't you read a map, and didn't you know which way North was?

 

If the answer is yes, why were you asking the locals?

[mettech]

See Thai are not stupid when come time to scam foreigners they most  likely learned it from Foreigners, now it is time to do home work  in that regard because it is more common these days to be taken for a ride.