Guide to Buying Residential and Investment Properties in Thailand

You’re in love with Thailand. You are like so many before you and thousands who will follow. You have decided to buy a property in Thailand for whatever reason. You may be interested in owning a property in Thailand for a variety of reasons. It could be to make this beautiful country your permanent residence, as an investment or for the luxury of having a holiday home on the beach. Before you make a purchase, it is important to think about a few things. Read more now on private villas

What seems great at first can change when you fully investigate the pros and cons. It is not a bad idea to look into such a purchase. However, as with any real estate deal in Europe or America, it’s best to do your due diligence before you make a decision. Before you sign any documents, make sure to check all the details.

Thailand has some of the most beautiful beaches in the world, an incredible climate, and a laid-back lifestyle. The foreigner who just stepped off the plane is likely to find this very appealing after their hectic lives in Europe and the USA. Before you sign a contract on the dotted-line, make sure that all due diligence is done, just as it would be back home.

Seek professional legal advice. Hire a registered lawyer who is qualified.

You should speak to a Thai lawyer registered and qualified who is highly respected or has come highly recommended. It is important to get professional advice until you are familiar with Thailand and its real estate market. You can save money, and get answers to many questions with a good Thai lawyer. A good Thai lawyer can help you to avoid unnecessary pitfalls caused by a lack of market knowledge and guide you through any possible language barriers.

When you hire a Thai attorney, you’re basically hiring their professional services to protect you against any unforeseen pitfalls. They can also guide you through Thai real estate laws, assist you with any confusion, and/or help you protect yourself from unscrupulous people who may try to take advantage. If they are qualified, honest and licensed, lawyers are worth every baht. If you hire a good lawyer, they can be a valuable source of knowledge and expertise.

A good law firm:

Check that the current owner has the correct title for the property

– Check if there are any outstanding charges or liabilities on the property

– Check your contract and advise you on the obligations/responsibilities of all parties

– Walk you through the transfer of funds/payment

– Make sure that the property has been registered correctly and under the correct name

– Provide essential and valuable legal information

Advice on visa regulations, and your options

Protect yourself from unscrupulous people who may try to take advantage.

Ask an authorised Thai lawyer for help with ownership laws:

The laws of Thailand currently only permit certain types to be owned and purchased as a freehold. You need to understand what these are. The first thing that comes to mind is a condominium, and it’s a great option. Even with a condo, it is important to make sure the unit you are buying falls under the right legal category. Make sure to check the applicable laws and take all necessary steps for a hassle-free purchase. A licensed Thai lawyer can do this all for you. They are well worth the baht that they charge. Only the fools would buy a property worth 15 million baht and refuse to pay an attorney 50,000 to 100,000 to handle the transaction. You and your money are protected by a Thai lawyer. Always seek legal advice and don’t be a fool. You can be fooled by using unqualified lawyers who provide ridiculously low-cost legal services. You can find many in tourist magazines, newspaper articles and street shops. Be careful, take time, and be sensible. You can find some great lawyers if you search hard enough.

There are ways for foreign investors to lease property up to 30 year terms in Thailand! This option is popular because a foreigner can own a freehold on leased land. Even then, it is possible to extend the lease for 30 years, but this does not come with a guarantee. Check with an experienced, registered lawyer.

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