Expert tips on buying a condo from speculators
Condo purchases usually take place in one of three periods.
1. Presale. During presale, the price is the most attractive, as it is the riskiest period for a condo buyer. One advantage is more choices of unit.
2. Construction. Construction progress builds more confidence among buyers. During construction, the price will typically rise by 5-10%.
3. Ready to move in. This is the least risky period, and the selling price can rise by up to 30% from presale.
Ms Anyapat suggests the best times to buy a condo from speculators are one month before construction is completed, the resale period; and three months after construction is completed, the pre-transfer period.
Speculative investors who are not willing to transfer their units have only two choices — either allow the unit to be seized by the project developer or resell the down payment to interested buyers over the internet.
Most will not allow their unit to be seized and will sell it. This is a good opportunity for a condo buyer or investor to bargain for a better price. Speculators are easily found on the internet.
Source: Bangkok Post