Buy Property In Thailand
Buy Property in Thailand
Once you found the right property it’s time to go to the next step: purchase. Here is the process to buy a property in Thailand.
If you are in Thailand
- Get a lawyer to represent you and make the paperwork. Fees are between 50 000 THB to 200 000 THB.
- Pay a booking deposit to hold the property. The amount is between 5 to 10 % of the selling price depending on owner / developer. Sometime it’s a fixed amount.
- The lawyer makes due diligence (check at land department if property is free of mortgage or restrictions)
- Once it’s confirmed that the property is transferable the lawyer will make the purchase agreement.
- Signature of the purchase agreement.
- Transfer of the funds (purchase price + transfer fees – minus reservation deposit) to the lawyer.
- Transfer of property at land department done by lawyer. Payment of balance to owner (purchase price – minus reservation deposit) and payment of transfer fees to land department.
- You get the title deed in your name the same day. To be kept preciously.
You can do all by yourself if you want to save the lawyer fees but we don’t encourage you to do so. The average time to complete the purchase is about a month
If you are not in Thailand
- Appoint someone to represent you: a lawyer or your agent.Fees are between 50 000 THB to 200 000 THB.
- Give POA (power of attorney) to your representative (sign documents provided and get a notary from your country to certify it with stamp and signature).
- Pay a reservation deposit equal to 5 to 10 % of the purchase price (refunded in case the property is not transferable).
- Representative / lawyer makes due diligence (check at land department if property is free of mortgage or restrictions).
- Sign purchase contract and send back to lawyer / representative.
- Transfer of property at land department by representative and payment of balance to owner (purchase price – minus reservation deposit) and payment of transfer fees to land department. This amount has to be transferred to representative at least one week before the registration date.
- Title deed in your name can be kept by representative or send via DHL to your address.