5 property checks buyers mysteriously overlook in Thailand

By Tanutam Thawan

 

 

Buyers, when investing overseas in countries like Thailand, forget or deliberately dispense with the most essential and often sheer common sense oriented checks.

 

In many countries, once a decision to purchase a property has been made, a deposit paid, the parties should be able to sit back and handover legal matters to their lawyers, and concentrate on admittedly stressful practical matters such as furniture removal, checking boilers / heating / air conditioning systems and often working through a ‘chain’ of interdependent transactions where in some cases each chain involves a buyer loaning monies from a bank.

 

Strangely, the same sets of buyers when investing overseas in countries like Thailand, forget or deliberately dispense with the most essential and often sheer common sense oriented checks. Sometimes just to save a few pennies.

 

Full story: https://www.phuketgazette.net/lifestyle/5-property-checks-buyers-mysteriously-overlook-in-thailand

 

 

-- © Copyright Phuket Gazette 2018-03-17

55555 this is an advertisement in the form of some content promoting the services of desmond hughes. To continue his article (unless it is a registered condominium) the number one overlooked essential issue for foreigners investing in Thailand is that foreigners cannot own land and leases are basically prepaid tenancy contracts with all kind of drawbacks, the company ownership alternative is an illegal circumvention of the law that can at any time lead to serious problems for the foreign investor. Investing in property in Thailand with expectation of achieving a profit, sure see him for a new scheme. 

I'll give people another tip when buying a property in Thailand, (especially if it's a house for investment) make sure it's not in an old estate if you think you may want to sell it again some day. If and when you do the chances are that much of your customer base will be Farangs and those Farangs will have a Thai lady partner. ...."She will not be interested in living in an old house in an old estate!".....wouldn't be able to show off or brag about it to her friends....and from my experience, that is what is more important, rather than the qualities of the house.

   

Thank you, Desmond Hughes, for your instructive article.

 

"...even though a building permit has been issued, the construction plans may not have been followed..."

 

Expanding on the above, I should like to ask if, for a new condominium construction, a document must be obtained from a local authority

certifying that the building is approved for human habitation. If this is the case, at what point must the document be applied for, by the developer before the registration of the Condominium Juristic Person or by the Condominium Juristic Person Manager after the registration? What authority issues this document and what does it look like?

Removed a troll post.

On 3/17/2018 at 8:53 PM, rooster59 said:

involves a buyer loaning monies from a bank.

Desmond, you BORROW from a bank, not loan. I can only guess that English is not your first language. 

 

Or is this the 'journalistic' work of Tanutam Thawan?