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THIS WEBSITE IS FOR SALE INCLUDING LISTINGS PLEASE ASK US FOR MORE DETAILS. GET A NAME THAT STANDS OUT AS OWNER HAS NOW RETIRED. YOU CAN WORK WITH EXPERIENCED SALES TEAM

 

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It is a good time to buy property in Thailand but please be aware you cannot buy a house and land in your name unless you spend 40m baht.You need to take a 30 year lease out for all foreign ownership with a Thai.  Banks are lending & property prices are now dropping due to the insecurity of the present economic situation. The exchange rate is roughly around Baht 36 = US$1.

LAND AREAS: 1 rai = 4 ngarn = 400 wah2 = 1600 m2; 1 talang wah = wah2 = 4 m2; 1 acre = 2.53 rai & 1 ha = 6.25 rai.


To date foreigners may own

  - a unit in a registered Condominium

  - a building (as distinct from its land)

  - a registered leasehold of up to 30 years for all types of titled land (and/or buildings).

  - a company can purchase land and buildings but will be inspected and all Thai shareholders veted.

  - more than 49% of a condominium unless in Company form.

  - foreigners can own land being 49% in a company but the company must operate a business & shareholders interviewed so not that easy anymore

  - if you invest 40m baht you can buy 1 Rai of land in Thailand outright. 

USING OUR SERVICES:

ADVERTISE YOUR HOUSE OR PROPERTY ON OUR WEBSITE. NO BROKER FEES

NO COMMISSIONS TO PAY [ CHECK THIS OUT ]

 

       

WHATEVER YOU BUY OR BUILD IT PAYS TO ASK THE EXPERTS & GO SLOWLY

We now provide an outhouse consultation at your Hotel if you require assistance with any Business ideas, housing or legal advice with our foreign consultants.  Highly recommended if coming to live in Thailand & especially ChiangMai. 

We receive our commissions off the seller or landlord and no added charges are imposed on you the buyer or renter. What we make sure is you get a professional service with no hidden costs, plus we help you with your lease agreements and oversee everything you need. You may have a Thai friend who says they can get you a better deal. Unbeknown to you they may be getting a commission or even 2 plus a scheme --can you read Thai??. Using our services we guarantee that the lease and selling documents are in order as we have our own Barrister at Law. Please do not ask us for mortgages as we cannot help unless you are married to a Thai or own a Thai Company.

WE CAN ARRANGE YOUR WORK PERMITS, PARTNERSHIPS, CONTRACTS, COMPANIES & VISAS THROUGH OUR LAW SERVICE; Title searches, House inspection reports so be safe. We are the oldest established Real Estate foreign business in Chiangmai. We also have our own lawyers. If buying off agents please

play safe and check www.chiangmailaw.com

  

NOW YOU CAN EVEN POST YOUR OWN HOUSES  ON THE NEW THAILAND CLASSIFIED / AUCTION WEBSITE to buy or sell. Open to all businesses and private sales & buying advertise here. Check out the forum and law service. The website is in Thai/Eng language and its totally FREE.

www.thaitrademe.com

The hottest Thai Classifieds in Thailand

BUYING YOUR HOUSE:

BEST OPTION FOR BUYING PROPERTY IS:

Please do not ring us from overseas wanting loads of info about a house. What we list is what is available. It is pointless sending you info about a house as you must view the house and the area where it is. In Thailand there is NO zoning so a nice house could be beside a factory or canal that you don't like. You need to supply us with info like how close to schools you want to be, to Tesco, the airport, dept stores, where you want to live, near town etc so the more info you can send to us the easier is our job. We DO NOT show you multiple listings as again we are not a tourism service but if you know what you want and budget then we can assist you.

Thailand has so many different types of properties for sale that whatever your dream home is, you can realize it here if you do the paperwork right. Prices are a lot cheaper than Western houses but some aspects need close scrutiny especially wiring, water & most importantly the deed title. Now that you want to buy a house what should you look for? 

The first thing you need to do is obtain the services of a reputable real estate agent or lawyer on your behalf. The Thailand Realty Industry is not regulated so watch out for agents forcing you to sign contracts, & check the title deed to make sure the property is what it says. Do yourself a big favour and obtain a House Inspection report which in effect pulls the holes out of the property! Some buyers have bought the house only to find the land is on a different title & visa versa or the cracks have been disguised. Once you buy then its your problem. Many Estates will try to sell a house in a developing block which has but one title with say 10-20 houses on it. They probably have 2 mortgages and want to unload the houses before they pay off the loan & secure the titles for their owners. Or will they???--- we had a case & saved the foreign buyer 2.8m baht that he would have lost if he did not use our service. The same goes with the boundaries of the property which need to be the same as the title deed. In Thailand there's no survey pegs as such but they do use concrete pegs & it is an important point. Sometimes vendors deliberately understate property area or move so called pegs. If the  building is under construction or the land is having a subdivision look carefully at the provisions for issuing a title, and easement rights for say roadways. if you are a foreigner you can lease for 30 years or form a company to hold the house. Remember also do not start a company for the sake of securing your house. If you do not carry out business and do not have employees ( and I mean NO nominees that your law firm has provided) you will find yourself in hot water. As at 2006 march Immigration and Company Regsitration are not checking all foreign companies for employees and they will be interviewed as well as what business you are doing???? 

BUYING YOUR CONDO:

Legal pitfalls of purchasing a brand new condominium
source: WERACHON LAW OFFICE / Pattaya Today June 17 2008

THERE are pros and cons of buying a condominium unit in a brand new project, a brand new product is always good. However, it is advisable not to use your brand new brain to buy a condominium in Thailand because a brand new brain means that it has never been used. In Thailand, you have to use your brain more than you normally used it in your own country.

The pros for buying the brand new project are

1. The starting price of a condominium unit in a brand new project is quite low comparing to the finished project. Many foreign buyers of a brand new condominium unit can easily make good speculative profits in the short term especially for a renowned project or well positioned.

2. Some demanding buyers feel obliged to check the construction from the foundation until finishing stage to see if the quality is in compliance with the specification.

The cons for buying the brand new project are

1. Some developers may have problems with their contractors which may cause a delay in construction, and some unscrupulously construct more buildings in the common areas.

2. Some developers hand over condominium units, which are defective or units where the quality has not complied with the specifications.

3. If you have to make a down payment for one or two years, it is risky that a change of the economic situation could adversely affect the high profile developer. As we are aware “Everything is impermanent”. The cost of construction depends on many factors which sometimes suffer from an “Act of God” or “Force Majeur” which are beyond our control. Many developers become bankrupt by the laxity of their financial management, and a project becomes a “Non Performing Loan” (NPL) with a bank, you will be involved in a time consuming judicial process. You may not draft a contract requiring the Developer not to become bankrupt. The good developer should have a good financial record, e.g., Rattanakorn or Viwtalay who always keep their promise as goodwill which is their great assets.

4. Some crooked operators in the guise of developers may easily set up a “paper company” and put banners in an empty plot of land with a cabin sales office. They may arrange for the classy grand opening parties with good food and wine with a fancy show and a rhetorical MC to get reservation money from gullible foreigners and then disappear. If the crooked developers are foreigners, you cannot find out their whereabouts easily, because they just pack their bags and clandestinely leave Thailand.

We strongly believe in the old maxim that “Forewarned is Forearmed”. To avoid a legal dilemma, it is advisable to comply with the following advice

1. It is advisable to have a due diligence search for the corporate and financial information of the company who is the developer of the project. In this regard, you may retain a qualified lawyer and accountant to check the corporate documents and balance sheets. You may verify who are the shareholders and directors, and some prudent buyers even check the credit background of each incumbent director. If the development project is financially supported by a bank or financial institution, you may discuss this with the bank or finance company concerned.

2. Most of good projects will have a signboard showing the details about the registration number of the land title deeds (Cha Nod) and a construction permit of the project. It is advisable to retain a qualified lawyer to check the details of the land with the Land Office to verify if the land for the project actually belongs to the developer. The mortgage on the land should be also checked.

3. With the title deeds and the construction permits, some prudent buyers check all the common areas and utilities to ensure that the developer will not use for its own commercial purposes, e.g., parking lots, recreation areas, club houses and swimming pool, etc. There are many developers using the common parking lots for the weekend market.

4. The developer of the project has to apply for the construction permits with the “Civil Works Office” (Sum Nuk Ngan Yo Tha) of the Pattaya City Hall. If the project is of more than 80 units, the developer will have to get a clearance certificate from the Office of the Environmental Protection, and it is advisable to check these permits have already been granted to the developer.

5. You should get a clear confirmation from the developer that the percentage of foreign ownership is not more than 49%. You cannot register the ownership of the condominium unit under your name if there is more than 49% foreign ownership in your project. This restriction is currently applied without exception. If the foreign ownership is more than 49%, many foreigners circumvent the restriction by setting up a Thai company to own the condominium. Incorporation of a company will be definitely burdensome for you to absorb expenses for incorporation plus preparation of annual balance sheet.

6. To register the ownership of the condominium unit under your name, you have to show the documents with the Land Registrar proving that the money you pay for the condominium unit is from your offshore source. Accordingly, you have to bring the foreign currency into your bank account in Thailand and convert it into Thai currency. The receiving bank will issue a “Certificate of Remittance” or “Thor.Tor. 3 (Sam)” if the remitted amount is more than $ 20,000. This Certificate of Remittance or Thor.Tor. 3 has to be produced to the Land Registrar for registration of ownership under the name of a foreigner and given to the Immigration Office for one-year visa. Many foreigners mistakenly transfer money directly into the bank account of the developer, and in this case, these foreigners cannot get the “Certificate of Remittance” or “Thor.Tor. 3” from the bank. Consequently, these foreigners cannot register the ownership of the condominium unit under their names. You should keep all remittance documents in good order to be able to justify all transactions with the “Anti Money Laundering Office” (AMLO) for repatriation of money to your country once you sell your condominium unit in the future.

7. The payment for the price of the condominium unit should be made by bank draft or cashier checque payable to the name of the developing company, and it is strongly advisable not to pay by cash.

8. The Consumer Protection Act requires that a contract to buy and sell a condominium unit must comply with the requirements under the “Announcement of the Consumer Protection Board” which ensures all clauses are fair for all buyers. There is a standard form drafted by the Consumer Protection Office.

9. The contract should be signed by with the authorized director of the developing company. However, as most of the authorized directors do not sign the contract in your presence. How do you know that it is the real signature? This problem can be solved if you make every payment by cashier checque or bank draft payable to the company who is the developer. If the company cashes the checque, the company cannot deny or raise the point that the signature in the contract is not the real signature of its authorized director.

10. The standard contract specifies that the buyer should share with the developer only the transfer fee of 2% from the appraised price. The income and business taxes including stamp duties should be solely absorbed by the developer. Most adhesion contracts drafted by developers always contain clauses in favor of the developers for their non-liabilities for breach of contract. You should have a proper English translation of the sale contract to compare with the standard form drafted by the Consumer Protection Office.

11. Once the construction is completed and approved by Pattaya City Hall, the developer will have to register the Condominium Juristic Person with the Land Office to separate title deeds (Cha Nod) for all units. At this stage, you will make a final payment by cashier checque or bank draft to the developing company at the Land Office in exchange for the title deed (Cha Nod) and house register book (Tabien Ban).

12. After the transfer of ownership, the co owners of condominium units in the project may join together to set up a committee to look after the management. The committee should control all the common areas and utilities to ensure that the developer will not abusively use these common areas for their own purpose. The committee may call for the general assembly of all co owners to draft a constitution and by-laws to protect the rights of all co owners.

The above protective measures are the minimum prudence you should have if you wish to avoid the legal dilemma in this land. You should not be fatalist to believe that your fate is dependent upon only an “Act of God” or “Force Majeur”.

We believe in the axiom that the “Power of Knowledge” can save you from all dilemmas in this land.


By: Mr. Ponthep Werachon, Thai Solicitor & Mrs. Darunee Werachon, Thai Solicitor & Accountant of WERACHON LAW OFFICE, 448/17 Thepprasit Rd, Pattaya, 038 300 967, 081 423 4255
e-mail: thai(at)werachonlawyers.com,
Reading room about Thai laws www.thaisolicitor.com

BUYING A CONDO:

A foreigner can ONLY own a condo in his / her name OUTRIGHT. You cannot own a house and land in your name unless you invest 40m baht  = 1 Rai of land. Bank's do not lend to foreigners; only Thais or Companies and you must lease, or have a Thai Company to own a house in your name. Ask us if you wish to borrow (must have overseas collateral).

Just a note about buying Condos. ---Find out what the monthly maintenance costs are from the managers. Ask for this in writing. Avoid unfinished projects as they may run out of money or be over mortgaged. If very few condos have been sold in a building with good amenities like landscaped grounds, security Guards and a receptionist and office have the title searched but most of all someone has to pay for all this, plus the electricity for lighting and lifts. The total cost (often inflated) has to be divided up among the condo owners, which can be a lot if only a few units have been sold. Ask for an exact statement of maintenance costs and how they are paid. If the project has different size condos in the same building, large units will pay more towards maintenance costs than small units. If you are a legal resident you can obtain a mortgage but you need to check with your bank and credit. The best idea though is pay cash as you can negotiate but you must remit from abroad. In Bangkok look at around 25,000 -100,000 baht per sq m. A foreigner can only buy max 40% of a condo unit so if that 40% has been taken up and you are the 42% person you may find you are buying a lemon so to speak. If the developer owns a majority of units you may not like his manager but if the owners have majority votes than they can remove him.

The Condominium Act has been amended. Now 49% of units in all condominiums and  100% of units in condominiums in a total development area under 5 rai located in Bangkok, all municipal districts and such other areas as shall hereafter be announced by the Minister of the Interior (which is expected to include rural Phuket) can be foreign owned. Funds used to buy a condominium & remitted from abroad are recorded by a Thai Bank on a Tor Tor Sam. Purchases of condominiums by foreigners come under the Condominium Act B.E. 2535 (1992). The owner of each condominium is issued with a certificate of unit ownership. The certificate also has a statement with percentage rights over the common areas of the building each owner has.

[ Check more Condo tips ]

COMMISSION PAYMENTS:

Are normally levied on the seller rated at between 3 & up to 6% of the asking price. Some agents are known to charge a commission from both the buyer and seller while we are told 10% is being levied by some. Due to the unregulated realty industry you must use discretion when buying off any agent or person. Ask how long they have been in business & look at their company papers for proof. If they say the price of a house does not include their commission, chances are this company is getting a cut both ends. Our company levies a commission solely on the "seller" & makes sure the person buying is getting the best deal for their money. We normally only sell houses that have a chanote (clear title). 

ONSITE INSPECTION REPORT:

If you want to make sure your house is safe and has what it should have & hasn't had recent false renovations, hidden maintenance, then we also conduct a professional onsite inspection house appraisal of the home you want to buy or sell. This inspection is over and above your title search but compliments the title search as we work in with our own lawyer.  This 5-8 page onsite inspection report covers everything from electricity, inside and outside structures, water supply, plumbing, and general condition of your house & land, elevation etc in a check list report. Added to this we give you the buyer, a full written maintenance report plus our suggestions and recommendations all in English. We even oversee the recommendations on your behalf.  Cost for this Inspection ranges from  5000 baht for new houses under 2 years old to 6-8000 baht for a standard 3-6 bedroom older house, condos 5000 baht as we look at the entire building ( This does not including away travelllng expenses). eg. cost to inspect in Bangkok is 12,000 baht to start and extra if we have to travel.----takes 3-4 days ----report printout. We do not conduct land area searches as survey pegs are not shown. For this you need a surveyor which we can obtain for you.  Other buildings like Commercial properties we can quote you. PLAY IT SAFE-- WHY HAVE A HOUSE THAT WILL NOT LAST!!!!!! As of August 2005 we have managed to assist foreign clients before they buy with the knowledge that the seller will initiate our recommendations & saved money for our clients. It is worth it to have these houses inspection reports.

[ LEASING PROPERTY ]

We highly recommend you obtain a Title search and House Inspection report before you purchase ANY property in Thailand. Cost Title search = 7000 baht  Comprehensive Title search as well as House Inspection fee starting at 3000 baht. 

KITCHENS & AIR CONDITION INSTALLATIONS:

When buying an existing home or new house you may want to have a new western style kitchen installed or maybe air condition units. If we carry out a Housing Inspection then we also in our report have a free quotation for air condition units and kitchen joinery for you with FREE installation or arrange on your behalf. We can help you with the top Kitchen manufacturers.

 [ Go to Kitchens ]

ARCHITECT: 

Ask no further as we use Khun Da in ChiangMai recommended to us who speaks excellent English and whom one of our partner's Dr. Harry Gair is presently using. We can arrange for you as many foreigners use her services.

 

WHY USE OUR SERVICES: 

  We work for you (Both Thai & foreign consultants )
  No hidden charges-everything is up front.
  Guaranteed conveyancy help &  Company, work permit & land  setup for foreigners
  We will sell your Commercial property, houses, businesses, bars and Guest Houses
  Because you have the benefit of foreign help with our Thai lawyers and expat consultants
  We offer: Full house onsite appraisals. Cost is 5000 baht for a house under 2 years old & 6000 baht for older houses ( plus travel if out of town ). This 5-6 page report is a must if you want to know what your house is really like which includes pics of repair work needed and we even do a air con survey (extra).
  We now conduct consultation at your Hotel if you require assistance with any Business ideas or housing advice with our foreign consultant. 

BUYING A BUSINESS:

Thailand differs from every other country and when you decide to buy a service or hospitality business here the first and most foremost thing you do is ascertain who your management structure will be. If you think you can buy a business for under 1m baht and make it forget it. With any business you now need a company for safety and if you want to work with work permit and have the premises under the Company name. The days have gone where you can run a business and make a profit when you only have 500,000 baht. The location is second to management and if you do not have your management sorted out first then you will find it hard to make headway in Thailand eg. honesty. Running a company with 4 employees, paying taxes etc you need 500,000 baht for the first year in fees alone and remember whatever you go into the off or low season is from April= November so make sure you bring plenty of money.  [ SEE MORE ON BUYING A BUSINESS ]

FREIGHT FORWARDER FOR YOUR HOUSEHOLD GOODS & ANIMALS:

Thailand can offer many foreigners moving household belongings to and from Thailand. If you need to ask then check out [ FREIGHT FORWARD COMPANIES ]. If you have animals and pets like a dog please ask a freight forwarder and Vet in your country.  [ Click to see more info ] on bringing your pets to Thailand.

USING A LAWYER:

Do what you would do back home & take our advice. USE A LAWYER but be careful there are good and bad lawyers here????? When using the services of a lawyer please be considerate and talk slowly. Although many lawyers speak English it is not there first language and be slow and patient when stating your case especially if you have just been rolled by your girlfriend???. There understanding of what you are trying to say maybe is not what they are thinking so when talking use local layman speech not heavy doctrine. Do not stand and demand like one will do in the west. Do not look down at a lawyer who is sitting down while you are standing. You are in Thailand not in the West. Do not shout and make demands or bang your fist on the table because you gave all your money to the "local bargirl" & now are crying!!!. Why? Some Thai lawyers will simply turn there back and close you out. You may even lose the money you gave. Simply speaking if you are rude and act like one does in the west then forget using a lawyer here. Thailand people are very patient and they do not like to be threatened or placed in situations where they do not understand the falang. Remember if you have a litigation case pending here in Thailand it can take many years to process & lots of money and court sittings that just drag on and on but this is Thailand and one must abide by their rules. If you lend money to a foreigner or anyone in Thailand do by way of contract and secure assets off the borrower. 9 time out 10 you will not get your money back.

If you have a property to rent, sell or lease in Thailand then WRITE TO US as we can advertise for you in our hardcopy news in Chiangmai .

New property law stuns foreigners

Bangkok (dpa) - Thailand's booming property sector has been thrown into confusion by a new regulation issued this month that requires all partly foreign-owned companies to prove the source of their funding before purchasing land, industry sources said Tuesday.
The new Interior Ministry regulation that went into effect on May 25 2006 has already started to slow sales of housing estates in Thailand's popular seaside resorts, such as Pattaya, Phuket, Hua Hin and Samui Island, which have been specifically targeting well-to-do foreigners as vacation getaways or retirement homes.
Thailand has strict laws prohibiting foreigners from directly purchasing property themselves although loopholes in the law allow them to own land and their houses through long leases or a "nominee company," providing the company is majority Thai-owned.
It is common practice for such "shell companies" to include Thai nationals who have been paid to act as nominees to facilitate the deal and who have invested nothing in the purchase. The new regulation, signed by Suraart Thoingniramol, deputy permanent secretary of the Interior Ministry, is designed to halt the use of such companies for property purchases in the future.
"If it appears that an alien holds shares or is a director or it is reasonable to believe that a Thai holds shares as a representative of an alien, the officers shall investigate the income of Thais holding shares, delving into the number of years [they have spent] in the current profession and monthly salary," reads a translation of the law. "The provision of necessary evidence is required."
The new regulation is actually an enforcement of Thailand's existing laws, legal experts said. "It's not a radical change. It's a radical implementation," Ronachai said.
The regulation has already started to stall home sales to foreigners, sources said.
"There's a lot of confusion," said Simon Landy, managing director of the Primo Co, a property-development firm. "Some land offices don't know what to do with it, and many have simply stopped transferring land." Source Bangkok Post

[ THAI LAW HELP SERVICE ]: We are the oldest running Thai foreign Law service in Chiangmai and especially cater for foreigners. We use foreign consultants and law offices in both Bangkok and Chiangmai from local to International. If you are buying a business do not use the same lawyer as the seller and if not sure then ask us.  We have many more properties. Just ask us. Let us broker your business or property. If we don't sell we don't charge you.  Selling or wanting to Buy a Guest House, Restaurant, Business, Bar or Office then just ask us. We do not charge you to find your business. We even guide you to the best deal & help you form a company, partnership, year visa, agreements, leases, accounting services, taxation etc right to offering you FREE hardcopy promotions if you use our services. We offer what no other Thai company can do: FREE hardcopy advertising promotions. 

[ Check out BEST option for foreigners ][ Mortgages ] [ June 2008 Escrow News ]

[ Swedes lost money in NEW condos ]

[ Thailand Property Update 2008] [ Bangkok Bank lends to foreigners ] [ Thailand Property Update Dec 2007 ] [ Read Thailand Property Hedge funds ]   [ Thailand Property Investing ]  [ Thailand Property Vs West ] [ NZ warned of Property Finance crash ]

   

COMPANY INDEMNITY: Our Company does not conduct conveyancy of property sales, title searches and lease agreements as we use our Law Office. If you do not have a lawyer then we can advise you & recommend one. All conveyancy procedures in Thailand should be conducted by a qualified Law Office and we do not advise you to use any of our Company staff nor others to assist you even though you feel they may cut corners for you or save you money. Our Company is not responsible other than assisting clients to purchase, sell, rent or lease & we will not be held responsible or accountable. Feel free to ring us if you have a problem & require advise about our services or you are not sure what you are signing: Ask to speak to our Manager:

   
 
 

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