10 tips on how to buy a property in Phuket correctly!

Planning to buy an apartment or villa in Phuket? This article is for you! 10 tips that will help you avoid serious risks when buying a property in Phuket.

1. Define your purchase goals. For your own living, for passive income, or to rest for a month or two a year, and rent out the rest of the time.
   
   
2. Location, location, location! If you are buying a property for income, choose a place where you would like to stay. Such a place and others will choose to rent. These are, of course, areas of beaches with a developed tourist infrastructure. The closer to the beach, the better!
   
   
3. Visit the developer's office and construction site. Explore the surrounding area and the area itself. When making a remote purchase, ask your agent to do it online via video chat.
   
   
4. Analyze information about the developer, their experience, prices, and quality of construction. Professional developers usually provide a complete set of documents about their company: a portfolio, copies of the company's founding documents, a construction permit and an environmental impact Assessment (EIA) certificate, layouts, floor plans, and a design project.
   
   
5. Order a due diligence check of the documents and the general state of affairs of the developer/seller in a professional law firm. What you will be told by the agents and representatives of the developer may not always correspond to reality.
   
   
6. Do not buy real estate through one-page one-day sites that do not have a serious database of real estate objects. This category also includes various types of questionnaires, questionnaires, and quizzes. Often, these are companies that work for only one season and then disappear.
   
   
7. Choose a professional real estate agency that will be your reliable assistant throughout the transaction and even after it. Full-cycle expert real estate agencies will provide a full range of real estate services, including a wide selection of options from the full database of objects, independent expert evaluation of the contract and the seller's title documents by licensed lawyers, transaction support at all its stages and full post-sale service. Unlike independent expert agencies, real estate agencies that are owned by real estate developers offer only their chosen options and try to sell them to the client by hook or by crook, often even giving out incorrect information about the market. The same applies to various real estate exhibitions, where tour operators deliver newly arrived tourists by bus. A separate category is various freelancers-illegal immigrants and unknown agencies that work for a maximum of two seasons and then disappear. As you understand, they will naturally not accompany your transaction and will forget about you immediately after receiving the commission from the seller. The information they give to customers is often untrue and has only one goal – to sell you at least something and as quickly as possible.
   
   
8. Ask the agent about their experience, their company, and whether they have a work permit. Also, it is not superfluous to ask about the personal achievements of the agent: whether he has his own home in Phuket, whether he owns the car in which he arrived, whether he invests in real estate in Phuket, how long ago, in what amounts and with what result, whether the company is engaged in the management of real estate, which offers you to buy.
   
   
9. Be sure to ask the agent where he and his company's management were during the coronavirus pandemic. Many frivolous agencies during the pandemic stopped their work in Phuket, abandoned their clients and went home to their countries. Unlike them, we have lived in Phuket for many years and have never left our customers ' questions without attention.
   
   
10. The coronavirus pandemic has revealed the true face of many real estate companies, including developers. Most of the developers in Phuket, despite the crisis, continued to fulfill their obligations to customers. But there are also those who refused to fulfill their obligations, violated contracts, and began to openly behave rudely with clients and agents. Even if you have already chosen a property in Phuket, do not hesitate to find out from independent expert agencies about unreliable developers who have broken their promises to customers.

Useful information on how to properly and safely buy a property in Phuket,
of course, much more than can be covered in the format of 10 tips.

We will be happy to help you with your choice individually and look forward to seeing you in Phuket!