Things To Remember When Buying Property In Thailand

Everybody should be cautious when buying property in a foreign country and Thailand is no exception. Thailand is a fantastic country to invest in but there are things to consider before signing that huge check. Buying property, whether it is a landed house or a condominium, requires careful and advanced planning. We compiled a quick guide of things you should definitely remember when investing for a property in Thailand to ensure that your investment is fool proof.

• 1.Research.
• You can never be too sure when buying a property in Thailand or any other country for that matter. Do a quick land deed search at the land department before placing in a reservation fee or deposit. Verify that the seller has a clear and legal title of the land before entering any binding or contractual agreement. A deed search in the land department of Thailand will help you trace the land’s ownership history as well as any leases or mortgages on the title.
• Make sure you also verify if there are any zoning, planning, and environmental codes in the property. These could hinder you from building your dream home or business because of structural height restrictions. There are several types of title deeds in Thailand so familiarise yourself with the different types of ownership in the country.
• It might be time consuming and confusing, especially if you don’t read or speak the language, but taking this step is very important so that you ensure that your money won’t be wasted.
• 2.Hire a local lawyer.
• Do not buy property in Thailand without first consulting with a lawyer. They are already accustomed to the land laws in the country. It is a necessary assurance that you are making a sound investment in Thailand. They can conduct a land search for you if you are unfamiliar with the language. Before signing any contract, make sure you have a lawyer look over it. Have them discuss the legal process when purchasing in the country so that you understand the basics in acquiring property.
• 3.Buy through a trustworthy estate agent.
• Property market in Thailand is very different from that of Singapore. They have totally different processes and rules when it comes to purchasing property. To avoid any potential risks, buy property through a estate agent. Aside from the fact that they can speak Thai on your behalf, they are familiar with the different locations that can help you greatly when it comes to deciding on a property. There are several estate firms in Thailand that follow an international standard of processes and business practices as those in Singapore. By purchasing from these firms, you can be assured that your investment is in good hands.

Investing in property is always a big step. It involves a lot of hard earned money as well as time spent fixing various requirements. By following the reminders above, you can be assured that you have followed the right steps to make a sound investment. Whether it is on a beach or city property, Thailand is worthy of your investment.