Category Property

Buying or selling a property in Thailand is done by signing a standard sale and purchase contract. This must comply with the land code laws, including the Condominium Act. The sale and purchase contract must also be notarized in your home country. If the property is purchased through an offshore company, documents such as company incorporation documents, shareholder lists, and director ID’s must be translated into Thai and notarized at the Thai Embassy Consulate.

Buying or selling a property in Thailand involves paying transfer fees to the Land Department. These fees vary depending on the type of property being purchased. These fees are usually divided between the seller and the buyer. The seller will have to bring the original title deed of the property and a cashier cheque for the transfer fees.

Aside from the transfer fees, a withholding tax must also be paid by the seller. This tax is 1% of the sale price and is paid in order to prevent a buyer from undercutting the seller in order to avoid paying more transfer fees. The withholding tax is calculated on the highest amount declared, so if the property is being sold to a child, the taxes will be different than if it is being sold to another adult. In some cases, the buyer will be required to pay a special business tax. This tax is only payable if the apartment is sold within 5 years of acquisition.

Before the transfer of ownership takes place, a reference letter from the bank must be obtained from the developer. This letter must specify the details of the condominium and the name of the buyer. It must be signed by the banker in Thai language. The buyer can also request to keep these documents. In case the purchaser does not wish to keep the documents, the developer will keep them until the transfer of ownership takes place.

A foreigner can buy a condominium in Thailand under their own name, or a mixed Thai and foreign ownership company. This is a time tested system that has been in place for years. However, foreign ownership of condominiums in Thailand can cause problems, such as infringement of the foreigner quota. Typically, 49% of condominiums in Thailand must be owned by Thai citizens.

As a foreigner, you may have to pay a fee for the writing of the contract and for the control of the deed of the property. These fees can range from 30,000 to 100 000 Thai baht. If the property is being purchased through an offshore company, the fees may also be higher, because the company will need to be translated into Thai language.

To transfer ownership of a condominium, you will also need to pay a fee to the Land Department. These fees are usually around 2% of the appraised value of the property. The fee is normally shared between the buyer and the seller, though it is not uncommon for the buyer to pay the fee.

Taking the time to review a sales contract is an important step toward a smooth and successful transaction. You need to ensure that the details on the purchase contract are correct. A mistake such as paying the wrong price can be disastrous. A good contract review service can ensure that you are not making a fool of yourself.

Contract Review Service

There is a lot of information to be gleaned from a sale contract. It is important to make sure that you are buying the right property at the right price. A sales contract is a legally binding document between you and your prospective buyer, so you need to be careful and well-informed. It is also advisable to use a contract review service to avoid legal headaches down the line. A contract review service can ensure that you are not paying for a substandard product.

The best contract review service will provide you with a comprehensive review of the contract you have just signed. They will also ensure that you are paying the right price. The best contracts are crafted with your best interests in mind. This can save you a lot of grief down the line. The contract review service will also highlight if you are buying a dud property.

Check the Legality of the Contract

The most important part of the process is determining whether or not the contract you are signing is a legal document. There are many legal and ethical issues that can arise when you sign a contract, so you need to ensure that you are not signing away your hard earned cash in the worst possible way. A good contract review service will not only ensure that you are paying for the right product, but also that you are not signing away your hard earned money in the worst possible way.

There are many ways to do this. You can hire a contract review service to perform a comprehensive review of your contract, or you can just take a chance and risk a contract that will be a dud. Whether you are buying or selling a home or land, a contract review service can ensure that you are not signing away your hard-earned money in the worst possible way. A contract review service can also ensure that you are paying for a contract that is legally binding, so you can rest easy knowing that you are getting the right price.

The best part of a sales contract review is that you will get to see the product you are buying for the first time, so you can be confident that you are making the right decision. A sales contract review service will ensure that you are not signing away your hard-earned cash in the worst possible way.

Buying a property in Thailand involves a series of procedures known as due diligence. These include a thorough search for legal issues and a physical inspection of the property. These processes are critical for protecting your investment. The process can be expensive and time-consuming, but it can save you from dealing with scams or frauds. A lawyer can provide this service for you.

Processes of  Due Diligence

The first part of the due diligence process is to check the status of the property’s title. You can do this by looking at the land title deed, which a lawyer will present to you. This document contains information on the land’s description, ownership history, and other important details. You should also check whether the property’s boundaries match the title deed. This is especially important if you are buying condominium property. If the boundaries do not match, you will have to investigate if there are usufructs on the property. The usufructs may not be registered, but they may be valid. You can also check whether the land is surrounded by gas pipelines and whether it is protected by registered rights.

The next part of the due diligence process is to check whether the seller has legal rights to sell the property. Checking the seller’s background is essential because there are a number of land scams in Thailand. A good lawyer can investigate the seller’s financial capacity, and whether the seller is licensed to sell the property. You should also check whether the property is registered at the Land Office and whether there are any outstanding taxes. If there are problems, the lawyer can help you resolve them.

Another important part of the due diligence process is to check if the property has a building permit. A building permit is necessary for transferring the property’s ownership to another party. You can obtain a building permit for a specific period of time or for the lifetime of the landowner. You should also check if the property is free from mortgages and liens. If the property is not free from mortgages and liens, you could face legal problems. You should also check whether the land has been sold before. This is important because errors in the title registration can have legal consequences.

The third part of the due diligence process is to check for any liens or legal problems that may arise. This can include checking the land title deed for liens and checking the court database for any lawsuits. You should also check whether the seller’s name has been included on a liens list. This can prevent you from buying a property from someone who has a history of liens. If the seller is not registered, you should avoid purchasing the property.

Another part of the due diligence process involves checking the developer’s background. If a developer has been involved in any litigation, you should ask your property lawyer about it. You should also check whether the developer has any government permits or liens on the property.