A great number of foreigners buy property in Thailand than anywhere else in Asia.
If you are a foreigner and want to buy property in Thailand, whether a villa or condo but you are not certain how this is done. Here, you will find the basic guidelines of what needs to be done and how to buy property or any real estate in Thailand.
Legal planning with your Thai property lawyer
You are buying a property in Thailand as a foreigner and you need to know the correct legal process. Before you sign any deposit agreement or contract, you should consult with a Thai property lawyer to discuss the legal process.
Do a title search
A comprehensive examination of a title deed recorded at the Land Office should be done. You need to verify that the seller has a clear and legal title deed of the land before you enter into a contractual agreement. The title search will also verify the rights reserved to access to your property.
Make a deposit
When you feel satisfied with the property, you will make a deposit to show your intention to continue the process. In return, the seller will reserve the property for you and start the process by drafting the contract for purchase.
Review the Thai property contract
The seller will prepare the property contract for you. It is highly recommended that you should have a property lawyer review terms and conditions in the property contract.