Checklist for buying property in Thailand

Unfortunately, not all housing increases in value and is profitable to rent. Competent real estate agencies are obliged to offer their clients profitable objects for purchase, discarding problematic and unpromising ones. The futile hopes of a large number of buyers are directly related to the poor choice of the agency.

Our agency has been working with real estate for over twenty years. Our experts themselves invest in real estate in Thailand and are engaged in its full management. We live permanently in Phuket, we earn our own money by investing in real estate, and we will help you make a profit!

How to choose an agent?

Study the catalog of real estate objects presented on the official website of the agency, and in addition, what position the site occupies in the search results. Currently, there are a lot of one-day firms that are enterprisingly advertised on social networks, but do not have either a real estate database or an official online resource with a rating.

Talk to the agent in person. See what kind of car he has (his own or rented), whether he bought a house in Thailand or rents. A person for whom selling apartments in Thailand is a successful business will always tell you about their own achievements.

Don't be afraid to ask any difficult questions. Many people do not know anything about the nuances of transaction support and taxes.

Do not cooperate with temporary workers. Ask the agent where he worked during the pandemic? Many agencies simply closed their offices and fled home to their country when the pandemic hit. The same pattern was observed throughout the crisis in 2014. At such a time, customer requests were becoming more frequent with a request to help in legal problems that arose due to the fault of unscrupulous agencies that abandoned them.

Our home is Thailand. We live here and we're not going anywhere. Our experts will continue to deal with customer issues 10 years later.

How do I choose a property type and location?

When you have already made a clear decision whether to buy a property for yourself or as an investment, it will be easy to choose the type of property and location.

1. For investment: lower floors, more affordable apartments or villas in residences, selected according to the essential parameters of demand among tenants and payback.
2. For yourself: sea view from the upper floors or a comfortable villa in the residence, selected according to your preferred criteria.

How to select developers?

Your agent should tell you about the developer and present his portfolio: what and at what time it was built and whether there were any problems. With the exception of a high-quality consultation with the agent, look at the information online about the developer. Many of them have negative reviews from real customers.

How to issue documents?

Once you have selected a property that suits you, a reservation agreement is signed. The agent must read and verify it before signing, but some agents simply do not do this. The reservation agreement must describe all the parameters of your transaction, the details of the buyer and seller, and the mandatory conditions for the refund of the reservation payment. If this is not specified, you only risk the amount of the reservation payment.

Next, even more serious – the execution of the contract. Here they prescribe all the terms of the transaction. Your rights and guarantees depend entirely on the contract if anything goes wrong. And there may also be a problem: many agents do not check contracts, limiting themselves to comments that the contract has already been checked in advance. A good agency issues a written opinion on the compliance of the contract with the legislation, as well as a mandatory report on the verification of all title documents. When this was not done, the contract was not checked. Even if the contract has been previously reviewed by lawyers, your agent must in any case check the text on the question of making any changes and provide a written opinion.

Our experts are constantly contacted by buyers who are confused in the contracts together with the agents. Sometimes it seems that the agents who promised to knowingly check the contract, absolutely do not understand anything about what is the sale of real estate in Phuket, and even more so do not understand the local laws and taxes.

Our licensed specialists check the required documents even for other people's transactions (for a fee). At the same time, all services are free for their customers. So you can seriously save money by contacting a professional agent!