You have decided to buy a property in Thailand and looking for the next best step forward.
This guide will not only show you the next best step but will help you understand every step of the way and if you do have any additional questions, feel free to contact us, we are always here to help you with them.
There is a great selection of properties available in the market.
You can find plenty of them all over the internet, in different real estate websites.
We have our own house listings & condo listing available right here.
It’s probably best to start looking for properties online.
You can easily see what’s available in the market and get a better idea of what you want in comparison to what’s available.
This is an important step as you will find where your expectation meets reality.
Okay, so you have seen a fair share of properties, you probably have a shortlist of properties that you are interested in.
Now is perhaps best time to call us.
We will advise you with your list and help you come to a decision.
Once it has been decided, we will contact the seller and act as an intermediary to help negotiate, until you, the buyer, and the seller are happy with the terms and come to an agreement.
Now that you have found the property you wish to buy, the procedure begins.
That this can be done remotely and you can complete this whole procedure without even being in Thailand at all.
We will act as the intermediary between you and the Seller to make sure everything is clear and that there are no misunderstandings between you and the Seller.
1st Step: Booking Reservation
Reserve your chosen property (house or condominium) with a booking reservation fee.
The booking reservation amount depends on the cost of the property and the seller, normally in the amount of 50,000 Thai Baht.
After making the booking reservation payment, the Seller issues a receipt and removes your chosen property from the market.
This amount is considered as an advanced payment and will be included as payment towards the total purchase price under the contract, however, if you decide to cancel the purchase, it will not be returned.
2nd Step: Contract Signing
After completing the booking reservation, a Sales & Purchase Agreement Contract will be prepared.
You will have to provide a copy of your Passport, your official address, contact number, and email.
It is possible to include more than one name in the contract in the case you and your partner want to be co-owners of the property.
If so, provide the Passport copy of your partner as well as the other details mentioned above.
In the Sales & Purchase Agreement Contract, the following should be stipulated: the exact property details, the agreed purchase price, the payment schedule, the ownership transfer date, the fees & taxes arising from the ownership transfer registration and any guarantees or warranties.
Upon signing the Sales & Purchase Agreement Contract, usually an initial payment of 20-30 percent of the agreed purchase price is required.
Then both the Buyer and the Seller sign the contract.
If you are not in Thailand, then two original contract copies signed by the Seller, will be sent to your country by post.
Sign both of them, keep one for yourself, and then you will have to send the other one back to Seller by post.
By entering into a Sales & Purchase Agreement Contract as a buyer you now have reserved rights to purchase the property.
The purchase becomes complete once you have completely paid the remaining balance from the agreed purchase price, as stipulated in the payment schedule under the contract.
3rd Step: Ownership Transfer & Settlement
The ownership transfer & settlement occurs simultaneously, when the Seller receives the last payment amount and the ownership of the property will be transferred in accordance to the contract.
The registration of property rights will be done in the Land Department, after which you will receive a government issued certificate of ownership, a Title Deed or Chanote.