Real Estate Purchase in Thailand
Thailand is a well-known tourist destination, but it is also quickly gaining popularity as a location for real estate investment. On our website, you’ll find essential information on purchasing the most common types of property: condos, houses, and land.
Whether you’re looking for a home for personal use or an investment property for rental income, you’re in the right place.Whether you’re looking for a home for personal use or an investment property for rental income, you’re in the right place.
1. Decision-Making
- Choose the type of property (condo, villa, land).
- Set a maximum budget.
- Choose a location or provide us with your requirements, and we will assist you in selecting the property.
- Define the purpose of the purchase.
2. Property Selection
- Select a specific property from our listings and contact us.
- If our current listings do not meet your needs, let us know your requirements.
- In either case, we’ll provide you with a tailored offer.
3. Property Viewing
- If you’d like a viewing (in person or virtual), we’ll arrange it at your convenience.
- Carefully inspect the property, including the condominium deed and relevant documents.
- Once you decide to buy, we’ll guide you through the next steps and explain local regulations.
4. Purchasing Process
- Agree on the final price of the property, including any furnishings, if applicable.
- Sign a reservation agreement and agree on a deposit (usually 5–10% of the property price).
- Determine who will cover taxes and fees (seller or buyer).
- Set a closing date and sign the purchase agreement.
- The buyer prepares the final payment, and the seller prepares the original title deed for the property transfer.
- Property handover can occur once ownership has been transferred to the new owner, including transfer of utilities, services, and handover of keys.
- New owners may then arrange property insurance, move in, or rent out the property.
Important Information
Buying from a Private Seller vs. Developer: When purchasing from a private owner, the condo is immediately available for personal use or rental. Private sellers often offer favorable terms, especially if they need a quick sale. When buying from a developer, the best selection at the lowest prices is usually available at the beginning of construction, offering the highest return on investment. Payment can often be spread over a longer period (up to 36 months), with options for custom property construction.
Legal Assistance: Typically includes property verification, preparation of reservation (or purchase) agreements, assistance with obtaining necessary documents, tax and fee calculations, representation at the Land Office, power of attorney arrangements, and translation of documents into Thai.
Audit or Due Diligence: This generally includes checks of insolvency registers (for developer projects), verification of zoning and building permits, review of the legal entity or individual owners (in the case of co-ownership communities), and inspection of association rules, accounting, insurance contracts, and planned repairs (for condominium communities).
Payment: The buyer does not need to be physically present in Thailand. A notarized power of attorney is sufficient for the transaction. The buyer must provide proof of transferring sufficient funds to Thailand for the purchase (using the Tor Tor 3 form).
Maintenance and Service Fees: Standard fees are around 40 THB per square meter per month.
