Paragon Properties in The Pattaya Trader
Paragon Properties Answer Your Real Estate Questions
There are five people in the team at Paragon Properties . All deal with both sales and rentals but each one has their own area of expertise,so we asked them to answer some customer questions in their particular field.
Jamie is the Company Director, and especially good at investments he is a properties specialist through and through. With many years of forming excellent relationships with both customers and developers, he is proud to say that many of his business clients have become good friends.
I am interested in buying property for investment what annual return can you guarantee me?
When talking about investment we have to understand up front exactly what our client is looking for. A long-term or short-term investment, expected amount, desired return? In Pattaya’s current market the main types of investment return are: A) rental income B) resale
For the rental return we would suggest options that are offered with a guaranteed rental return. These usually range between 7 to 10% on a yearly basis, the investment starting from around 3-4 million baht.The investment should be made with the understanding that it’s a long-term time frame, between 5 to 20 years. On that basis it is possible to safely predict a stable income.
With resale there are a few different strategies available on the market:
1) Buying condos/houses in poor condition in older complexes, renovating them and reselling
2) Focusing on the few prime developments that are at the early stages of construction or pre-construction stage, to buy at a fraction of the price and resell during construction or upon completion.
3) Buying distressed units below market value, completed units or under construction units
All three strategies potentially give a higher return over a shorter period but there are no set time frames or guaranteed percentages of return. Our experience allows us to estimate potential income based on our previous deals and the overall reputation of the developer in the market. This type of investment is more flexible and the investment amount can start from just 1 million.
Buying off plan or under construction is a riskier strategy, so having a reliable and experienced adviser is not only strongly recommended, but an absolute must in my opinion .With every client we try to customize their request and work out the best strategy possible for their particular needs and financial situation.
Valeriya is excellent at customer liaison. She speaks fluent English and Russian and prides herself on being able to simplify the transaction process so that both buyers and sellers are equally clear on everything that needs to happen. She is also very good at asking pertinent questions which means she can work with customers to get the very best for them.
You are based in Jomtien, on Thappraya road but I’m not sure exactly where in the Pattaya area I want to live yet. What can you recommend and how can you make sure that I choose the ideal property?
We actually get this question all the time. The truth is – there is no ideal property but there is always the right one for YOU. When we meet with our clients for the 1st time, we never jump to offer properties based on criteria like ” 3 bedroom 3 bathroom house 5 million in East Pattaya”. A person might ask for this but end up buying a 1 bedroom seaview unit in a beach front high-rise and be extremely happy with the choice.
Buying property – is a big step, a significant spend and we believe it can’t be a choice made as you would with a pair of socks: based on size and colour alone. We try to get to know our clients, talk about their family, lifestyle, reasons for moving to Thailand, other homes and properties they own, plans for the future etc. to make sure to offer them the best possible options.We also take into consideration the time frame involved, if the buyer is planning to keep the property.
It’s no secret, that Pattaya’s real estate market is quite tough at the moment in terms of keeping or increasing the value but even if property is purchased for personal use, we do our best to make sure that it will not only be a comfortable place to live but also a secure and solid investment.
Nim is excellent with paperwork, working with lawyers accountants, dealing with transfers and land office documentation. She has been with Paragon for 11 years and throughout that time has offered invaluable assistance to many clients.
If I sell my property through you will you help with all the documentation and give advice regarding what is needed by The Land Office?
An essential part of our job is to make sure the chosen property has all the proper paperwork and do a thorough check up on the documents prior to signing any agreement. We also walk our clients through,step by step, the process of the purchase to make sure that all the conditions are clearly understood and that all the expenses incurred when buying a property are calculated and taken in consideration, such as:
The property tax, (if you re buying from developer or a private seller this will be different), maintenance fees for the property, expenses for company upkeep (if dealing with properties in company name) etc.
A bit of advice, if you’re looking to buy property without the help of an agent, your first step before putting any deposit, is to obtain a copy of the title deed and other relevant documents and check with the land office that the property is free of any obligations and has no outstanding debts or loans against it.
Alice has Fluent German because she actually lived there from the ages of 11 until 16 years old and of course being based in the Jomtien area finds there are many German customers for her to communicate with. She also works on the online and social media presence for the company
How up to date is your website? I hate it when I search online only to find most of the properties have already been sold
This can sometimes occur when a property is listed with several different agents and the owners do not always advise immediately when a sale has been made. However we pride ourselves on keeping our website up to date as much as it is possible and I am also very active on social media, posting regular updates for the latest offers via our Facebook page: Paragon Properties Pattaya @paragonpattaya and on our Instagram page, as many of our customers also make regular checks there.
Charles Is focused on the rentals market and is extremely proactive in this area.
Charles we’ve heard a lot of stories when, after completion of the rental contract a tenant cannot receive the deposit back from the landlord, how can we avoid that?
We would say, that 99% of those cases are down to miscommunication,not following the necessary steps and only 1% are sad stories of deliberate scamming. Let’s discuss how to avoid those 99% of misunderstandings.
- Upon getting into a rental agreement, you should sign a proper, solid contract, where the details about responsibilities on each side, payment terms, cancellation terms and fees are described, then sign the agreement with 2 witnesses .
- Have a photo inventory of the place, where every item can be seen, especially the condition of the item upon the move-in date. This is probably the most important part, as most claims arise from the damage of the property and items inside.
- Make sure to make all monthly payments in time according to the agreement, and properly record them (send via bank, or if paid cash, get a receipt for each payment)
These 3 precautions will eliminate most cases of withholding deposit.
In the very rare case of not receiving a deposit for no reason at all – the agency will be able to help take all steps necessary to resolve the case with the relevant authorities. However, if all the previous steps are taken, in our 14 year history and thousands of rental agreements, we have only once or twice had to seek legal help.
So if you have any questions for Paragon Properties you can be sure that there will be a member of their team who can help you and make the process of buying or selling your property that much easier.