Selling a condo without an estate agent

[Card]

I am selling a condo online without an estate agent and have two viewings coming up. However, I have never sold a condo without the help of an estate agent before and I guess there can be pitfalls which some of you have overcome in similar situations. Please I am only really interested in drawing on the experience of people who have actually followed the advice they might recommend, rather than just ideas floated about. I am particularly concerned about the following:

 

1. If I accept an offer, what do I do about a contract and deposit? If I was a buyer I would be reluctant to give a private person any cash without some kind of guarantee he would not just abscond. How do I get around this from the point of view of my security as well as the buyer's?

 

2. Is it possible to pay someone like an estate agent or bank manager to do this for a small fee because they have not actually found the buyer themselves?

 

3. Do I or the buyer need to book a slot at the land office (Nakhon Ratchasima) or do we just turn up?

 

4. Are there any other problems that have to be considered?

 

Thanks in advance for any useful advice.

 

 

[scubascuba3]

I bought a condo recently, no agent, I didn't agree to a deposit. There was a sale agreement which we both signed. We both went to the Land office, maybe can get a helper for that, maybe land office will help smooth the process for a fee

[Card]

7 minutes ago, scubascuba3 said:

I bought a condo recently, no agent, I didn't agree to a deposit. There was a sale agreement which we both signed. We both went to the Land office, maybe can get a helper for that, maybe land office will help smooth the process for a fee

Thanks for that. Who drew up the sales agreement and do you have a copy for me?

[scubascuba3]

2 minutes ago, Card said:

Thanks for that. Who drew up the sales agreement and do you have a copy for me?

The seller had the agreement, very basic, mine is just a scanned copy, maybe someone can give you a template, also try googling it one might be available

[Card]

2 minutes ago, scubascuba3 said:

The seller had the agreement, very basic, mine is just a scanned copy, maybe someone can give you a template, also try googling it one might be available

Great - got one - thx a lot _ https://www.thaicontracts.com/samples/47-condominium-apartment-unit-sale-and-purchase-agreement.html

[Fairynuff]

Some years ago, I sold a condo in bkk without an agent. As far as I can remember we adapted a previous contract. The buyer was French and we both had Thai friends to help with things, mostly at the land office. It wasn’t difficult at all.

[chilly07]

If you do the transfer at the land office you don't need a contract. The chanote is just amended to show the seller relinquishing the title in favour of the buyer. If finance is involved then the bank attends the transfer, moves the funds and gets their company added on the chanote. It's a very simple process but you will need a trusted Thai to assist you and check the chanote. The land office records the financial transfer and levies the tax. I am afraid that agents and lawyers will try to take advantage of you and are best avoided. I have always found that involving a bank is the best way to represent you and the purchaser as they will protect both theirs and your interest as they want to make sure they get their money back.

[scubascuba3]

12 minutes ago, chilly07 said:

If you do the transfer at the land office you don't need a contract. The chanote is just amended to show the seller relinquishing the title in favour of the buyer. If finance is involved then the bank attends the transfer, moves the funds and gets their company added on the chanote. It's a very simple process but you will need a trusted Thai to assist you and check the chanote. The land office records the financial transfer and levies the tax. I am afraid that agents and lawyers will try to take advantage of you and are best avoided. I have always found that involving a bank is the best way to represent you and the purchaser as they will protect both theirs and your interest as they want to make sure they get their money back.

The purchaser may need a bank letter for the Intl transfer, The bank wanted to see the sale agreement so they could update the letter. 

 

Google Lens app is useful at translating the chanote and Juristic office quota letter which was in Thai for me anyway

[Peterphuket]

I sell recently a condo without an agent but have a lawyer.

She arrange everything without any hassle, even she go to the land office to transfer.

Even I had the choice to be there, but I agreed she did everything without my presence.

[phantomfiddler]

There is only one way to do this in a satisfactory and straight manner. As soon as the sale is agreed, you should take usually a 10% deposit and go to a straight lawyer (there are plenty !) and have yourself and the buyer sign the "purchase" contract whereby if he does not come up with the balance within the agreed time then all agreements are nullified and he loses the deposit. The buyer then has to provide the documentation from his bank that he brought the money into the country for the express reason of buying a condo, and the seller has to obtain a document from the condo  confirming that he has paid all condo bills to date. The seller then signs a P.O.A. (power of attorney) form with his lawyer, and the whole transaction should be completed the next day. Needless to say there are taxes to pay. Usually the transfer tax is shared 50/50 and the property tax is paid by the seller. For the meagre cost required, one would be daft to do this transaction yourself. A decent lawyer will be in the region of a few hundred bucks ???? I have done this perhaps 20 times and never had any problem ! From the buyers end of the deal, using a lawyer is the safe way of making sure that the property actually belongs to the "Seller", which believe me can be an all important part of the transaction ????

[Card]

2 hours ago, Peterphuket said:

I sell recently a condo without an agent but have a lawyer.

She arrange everything without any hassle, even she go to the land office to transfer.

Even I had the choice to be there, but I agreed she did everything without my presence.

How much did she charge all in (!)? Also my condo is in Khao yai so would involve the lawyer or his assistant travelling there.

[Card]

2 hours ago, phantomfiddler said:

There is only one way to do this in a satisfactory and straight manner. As soon as the sale is agreed, you should take usually a 10% deposit and go to a straight lawyer (there are plenty !) and have yourself and the buyer sign the "purchase" contract whereby if he does not come up with the balance within the agreed time then all agreements are nullified and he loses the deposit. The buyer then has to provide the documentation from his bank that he brought the money into the country for the express reason of buying a condo, and the seller has to obtain a document from the condo  confirming that he has paid all condo bills to date. The seller then signs a P.O.A. (power of attorney) form with his lawyer, and the whole transaction should be completed the next day. Needless to say there are taxes to pay. Usually the transfer tax is shared 50/50 and the property tax is paid by the seller. For the meagre cost required, one would be daft to do this transaction yourself. A decent lawyer will be in the region of a few hundred bucks ???? I have done this perhaps 20 times and never had any problem ! From the buyers end of the deal, using a lawyer is the safe way of making sure that the property actually belongs to the "Seller", which believe me can be an all important part of the transaction ????

Can you recommend a straight property lawyer in Bangkok? I live in Pattaya but the buyers in Bangkok although I would travel to BKK. My condo is in Khao Yai so would involve travel by the lawyer's assistant. 

[Peterphuket]

1 hour ago, Card said:

How much did she charge all in (!)? Also my condo is in Khao yai so would involve the lawyer or his assistant travelling there.

My lawyer stays in Hua Hin but I think there is a branch un BKK, you'll have to search to "Air-Hua Hin Accounting"

I payed around 10,000.00 thb service fee+VAT

[Dan O]

On 2/26/2021 at 4:26 AM, Card said:

I am selling a condo online without an estate agent and have two viewings coming up. However, I have never sold a condo without the help of an estate agent before and I guess there can be pitfalls which some of you have overcome in similar situations. Please I am only really interested in drawing on the experience of people who have actually followed the advice they might recommend, rather than just ideas floated about. I am particularly concerned about the following:

 

1. If I accept an offer, what do I do about a contract and deposit? If I was a buyer I would be reluctant to give a private person any cash without some kind of guarantee he would not just abscond. How do I get around this from the point of view of my security as well as the buyer's?

 

2. Is it possible to pay someone like an estate agent or bank manager to do this for a small fee because they have not actually found the buyer themselves?

 

3. Do I or the buyer need to book a slot at the land office (Nakhon Ratchasima) or do we just turn up?

 

4. Are there any other problems that have to be considered?

 

Thanks in advance for any useful advice.

 

 

Since you bought it at some time in the past why don't you find you paperwork from that purchase. Copy that format as a template to give you an idea of the different issues that should be addressed in the sale\contract. At minimum you need a real estate lawyer involved even if you don't use a sales agent. They would also have a contract to review and use. 

[Card]

7 hours ago, scubascuba3 said:

The purchaser may need a bank letter for the Intl transfer, The bank wanted to see the sale agreement so they could update the letter. 

 

Google Lens app is useful at translating the chanote and Juristic office quota letter which was in Thai for me anyway

I am selling to a Thai. No need for an FET

[Card]

12 minutes ago, Dan O said:

Since you bought it at some time in the past why don't you find you paperwork from that purchase. Copy that format as a template to give you an idea of the different issues that should be addressed in the sale\contract. At minimum you need a real estate lawyer involved even if you don't use a sales agent. They would also have a contract to review and use. 

I bought off-plan from a developer - a completely different contract from  selling on. But yes I have decided to use a property lawyer. Thx.

[Card]

37 minutes ago, Peterphuket said:

My lawyer stays in Hua Hin but I think there is a branch un BKK, you'll have to search to "Air-Hua Hin Accounting"

I payed around 10,000.00 thb service fee+VAT

Thx but no branch in BKK it seems.

[LukKrueng]

On 2/26/2021 at 4:26 PM, Card said:

I am selling a condo online without an estate agent and have two viewings coming up. However, I have never sold a condo without the help of an estate agent before and I guess there can be pitfalls which some of you have overcome in similar situations. Please I am only really interested in drawing on the experience of people who have actually followed the advice they might recommend, rather than just ideas floated about. I am particularly concerned about the following:

 

1. If I accept an offer, what do I do about a contract and deposit? If I was a buyer I would be reluctant to give a private person any cash without some kind of guarantee he would not just abscond. How do I get around this from the point of view of my security as well as the buyer's?

 

2. Is it possible to pay someone like an estate agent or bank manager to do this for a small fee because they have not actually found the buyer themselves?

 

3. Do I or the buyer need to book a slot at the land office (Nakhon Ratchasima) or do we just turn up?

 

4. Are there any other problems that have to be considered?

 

Thanks in advance for any useful advice.

 

 

There is no need for lawyers / agents, no appointment at the land department needed - just show up. 

You can buy a standard sell- buy contract at any book shop or just draw your own. As someone already mentioned, you can also just show up with the buyer at the land department (that's if no deposit given). Part of the process at the land department is signing their sell- buy contract anyway. If the buyer is non Thai you need the letter from the juristic person re foreign quota and the bank letter for international money transfer (of the buyer).

A while ago a friend bought a unit directly from the seller but wanted an agent to assist with contact and land department procedure. The agent charged the standard 3%.

[scubascuba3]

9 hours ago, Card said:

I have decided to use a property lawyer. Thx.

Let us know what the lawyer actually does and how much. Most people say you don't need one, as a buyer a helper would make the process smoother. The main thing I've not seen mentioned so far is you get a bank cheque or cash before the Chanote is changed. Buyer could send a photo of it in advance to give you comfort it's not a fake one

[DrJack54]

On 3/1/2021 at 8:03 AM, scubascuba3 said:

The main thing I've not seen mentioned so far is you get a bank cheque or cash before the Chanote is changed. Buyer could send a photo of it in advance to give you comfort it's not a fake one

Your account is exactly what happened to me (except buyer not seller). The seller wanted us to send photo of bank cheque. 

Bit off topic but I was amazed how simple the process was at the land office compared to my country Oz.

BTW we and seller did not use agent/lawyer.

It appeared to me (novice) that the official at the land office checked that all docs were in order. In a way acting for both sides.

Perhaps more simple as the seller covered all transfer costs.