Buying Real Estate in Thailand

Thailand is one of the most popular tourist destinations in the world, but its popularity is also sharply rising when it comes to real estate investment. Our website will provide you with basic information on how to purchase the most common types of real estate: condos, villas and land. Whether your are buying for your own use or purely for investment, you are in the right place.

 

First steps when buying a property:

  

Entering the market 

- Clarify what type of real estate you are looking for (condo, villa or land?)

- Set your budget

- Chose a location or tell us your prefernce and we will help you to narrown down your search

- Clarify the purpose of your pucrhase 

 

Choosing a property

- Choose from our listings and contact us for more details

- If our current offer does not suit you, help us understand your requirements 

- In both of the above caeses we will prepare an offer for you in 3 days   

 

Property inspection

- Are you interested in an inspection (physical or virtual)? Contact us to arrange date and time.

- Throroughly check the property, including the title deed (ownership document) and all relevant documentation  

- If you have decided to buy, we will explain the next steps and and the details of Thai legislation

  

The process:

1. Agree on the final price of the property and equipment (furniture etc.), if applicable 

2. Agree on the deposit amount (usually 5-10% of the price of property)

3. Agree on who will pay taxes and fees (seller or buyer)

4. Set a deadline for concluding the entire transaction and sign the purchase agreement

5. Transfer of the amount due: the buyer prepares the transfer of the remaining amount and the seller prepares the original title deed, so that the transfer of the property can be completed

6. The takeover of the real estate can take place after the transfer of ownership rights to the new owner. It includes the transfer of utilities and services and the handover of keys from the property.

7. Insurance of the property by the new owner, moving in (or rental) 

 

Important information:

Buying from a private seller   X   Buying from a developer

When buying from a private owner, the property is immidiately available and can cater to your needs or be rented. Private owners often offer excellent opportunities, especially when they are looking for a quick sell. When buying from a developer, the biggest selection at the lowest prices falls into the initial stages of construction. That is when the purchase offers highest return on investment. Another advantage is the possibility to agree on breaking the price down to smaller payments that are to be paid over a certain period of time (up to 36 months) and the possibility of customizing the construction to your needs.    

 

Legal advice 

Usually includes:  property check, preparation of the reservation contract (or purchase agreement), assistance in securing all necessary documents, calculation of taxes and fees, representation at the cadastral office, assistance with securing a power of attorney and with translations of all necessary documents into Thai language. 

 

Due Diligence

Usually includes: inspection of insolvency registers (for development projects), inspection of zoning and building permits, inspection of legal entities or individual owners, accounting audit, inspection of insurance contracts and planned repairs, site inspection.

 

Payment

The buyer does not have to be physically present in Thailand. A verified power of attorney will suffice to secure the transaction. The buyer must provide proof of transfer of a sufficient sum of money to Thailand to purchase the property (confirmation form Tor Tor 3).

 

Maintenance and services fees  

The average monthly contribution is 40 THB per sqm. The payment covers basic repairs, maintenance and cleaning of public areas.