Are there any precautions for buying a house in Thailand?

Hello, you need to pay attention to the following minefields when buying a house in Thailand.

1, free of deposit

If you buy a house in Thailand, don't pay a deposit without an agreement and a receipt. Usually, the deposit is paid to reserve the right to purchase land, but it is very likely that the deposit cannot be successfully recorded in the transaction process, resulting in the lack of credit of the buyer. In this case, the deposit will not be refunded.

2. Owners of land

When signing the first agreement, it should be clear that the real estate developer is the legal owner of the relevant land. Supplementary clauses can be added to the agreement. For example, if the developer has not obtained the land ownership at present, the buyer can unilaterally terminate the agreement and get a full refund.

Foreigners can enjoy 49% of the property rights of apartments in Thailand.

Thai law allows foreigners to own 49% of the total area of all units in apartment projects. According to this regulation, before you buy a house in Thailand, you must investigate whether the Thai apartment introduced to you by the housing agency is within 49%.

Step 4 transfer

Many things are unknown, so there should be corresponding "exit clauses" in the contract to avoid changes in the plan. The transfer clause allows you to transfer the original contractual obligations to a third party, and the developer has the right to decide the procedures to be paid for this. The transfer clause also allows you to choose to resell the property when the market is favorable.

5. Buy an incomplete apartment in Thailand

It should be noted that some apartment projects in Thailand may never be completed due to various reasons. It is very important to carefully entrust professionals to carefully inspect the development of alternative Thai real estate projects before buying.

6, building decoration standards

A list of all materials used for real estate construction should be attached to the purchase contract, including the quality, quantity and model of the materials used. Generally speaking, the more detailed, the better. Pay attention to the clauses in the contract that allow the developer to use "similar or better quality" materials for replacement, and ensure that such contracts are drawn up under the final decision of the buyer.

7. Translate Thai into English

Overseas real estate investors may encounter two contracts in Thai and English provided by the owner/Thai real estate developer, but the contents of the two contracts are inconsistent. Therefore, before you buy a house in Thailand, please ask a professional to check whether the contents of the two contracts are exactly the same.

Finding a reliable Thai developer will also reduce the risk of buying a house, so I suggest you find a reliable big developer, and you can also visit the specific situation of the house on the spot if you have the conditions.