NPA Property Contract Review | Lessons from the “Oh – Hon Krasae” Case

I’ve just read the NPA property purchase agreement
that allows installment down payments over 12–24 months from the bank.

.

From what I’ve reviewed,
I think the bank itself
might need to tighten the contract wording —
to prevent another case like Oh on Hon Krasae.

.

For example,
the contract should explicitly prohibit overlapping transactions,
or clearly define that certain actions
constitute a breach of the down payment agreement,
beyond just defaulting on monthly installments
or failing to redeem after the contract period ends.

.

Or, if the bank’s stance
is simply to focus on selling NPA assets directly to the public,
and views what happened on Hon Krasae
as an issue between the intended buyer (Oh)
and the sub-buyer (the victim),

then perhaps the bank itself
is not responsible for that specific transaction.
If that’s the bank’s policy direction —
so be it.

.

(I do understand how public institutions operate —
their roles, responsibilities, and legal boundaries.)

.

As for Oh’s business model,
many pages have already discussed it.

In some aspects, Oh wasn’t entirely wrong.
In others, the buyer made mistakes too.
And in some cases, even Lawyer Pakiew
may have misunderstood the full story.

It’s like a roundtable
where everyone holds a knife.
No one is 100% clean.
Each party knew only part of the conditions.

But the problem became public
because Oh, as the head of the table, made a mistake.
And once that happened,
everything fell like dominoes.

All those knives pointed
right back at Oh inevitably.

.

As someone who’s been in this industry for years,
I’ll summarize the whole picture from every angle
tomorrow.

.

P.S. Thanks to all the FCs who sent me the contract to review.

.

Join the discussion at:
https://www.facebook.com/Ex.MatchingProperty/posts/pfbid0Pwr84fuqgWcTaf9DQzTt7o533mARHeZkQEMZSSh4v1srkJK4Kp9XzoovmuL7nQncl