You may have been wondering whether buying property in Thailand is possible. The simple answer is, yes, it is. There are many ways you can own property in Thailand. Trying to find the perfect property for you may seem daunting, but by following our top tips you will realise just how easy it can be. Whilst searching for your dream property, you should consider looking at a condo for rent Pattaya. A rental condo will provide you with somewhere to stay whilst you begin your search for your perfect property.
Do Your Research
It’s a good idea to do some preliminary research before buying any property in Thailand. This includes looking around the local area, checking out the hotspots, and finding out about places to avoid. If you are planning on living in the property full-time then it would be a good idea to also check out the local schools, hospitals, etc. You also need to take into account the price of the property, the potential it offers, and how easy it will be to re-sell in the future.
Find a Good Lawyer
It is important to choose a good lawyer when buying property in Thailand. Most people seek advice about lawyers from their real-estate agent. A good lawyer should make your property buying experience run smoothly. They should be able to offer advice on any costs you may incur and any taxes you may have to pay.
Searching for the Property of Your Dreams
It’s a good idea to view as many properties as possible. At each viewing, you should take a note-pad with you and ask any questions that are important to you, e.g. where are the nearest international schools? Are the schools any good?
Remember to discuss the terms of sale with the real-estate agent, e.g. what does the property include? Once you have viewed the available properties, you should work out which property is your favourite. Make sure you consider everything including price, location, etc. Don’t just go by gut feeling.
Make an Offer
When you have found your dream property, you should make an offer. Make sure you don’t let the agent know how much you are willing to pay. Always go in at a lower price, to begin with. When a price is agreed, you will usually have to pay a reservation cost to take the property off the market.
Due Diligence Check
This is an important part of buying a property in Thailand. A good lawyer will complete a report that includes things such as:
- Land documents and title status
- Reservation agreement
- Land details
- Environmental Factors
- On-site survey
After this step, you are almost ready to complete. Your lawyer will finish by ensuring all funds are in place.
Buying a property in Thailand may seem like a daunting experience, but as you can see above, it is really a quite straightforward process as long as you employ a good lawyer and use a good real-estate agent. Happy property hunting!