Juristic Offices and Property Purchases

[fondue zoo]

A family member is about enter the property market with the purchase of a townhouse within a medium size complex.

There is a juristic office onsite that has made themselves part of the purchase process. They convinced her that a 5000 baht deposit was required to "lock in" her interest for the property. The usual "There's a lot of interest in this property" spiel.

From what I understand if the bank loan is approved the deposit is applied against her debt but if she chooses to buy elsewhere after the loan is approved they keep the deposit.

 

Why is the Juristic office involved at all?  Is this deposit process normal? Do the owner/builders of these estates engage a proper real estate office to sell to prospective buyers?

 

[Peterw42]

If its early days in the development, the office can be both the developers office and the juristic office. While a juristic office shouldn't really be doing sales and rentals, they still do.  Some sort of holding deposit is usually part of any sale. Real estate agents dont really exist in Thailand as there is no formal license or qualification, so anyone can present as an agent, broker a deal etc.

The juristic office holding the deposit has some advantages over a random stranger as you know where the office is.

[Delight]

As I see it your family member is simply buying from a developer. The developer is typically not a Juristic person.

They are co.,ltd.

The Chanote (I assume) is in the name of the developer.

Assuming that you are buying freehold -then the concept of  Juristic Person should not exist.

The Juristic Person concept typically applies to a condominium. It shields the many co -owners from external creditors . 

A deposit is 100% normal in such circumstances .

This will represent the down payment.

If your family members decides not to pursue the purchase -the deposit will be lost.

This is normal business practice.

Suggest that you investigate the role of the Juristic Person.

To my mind -in the circumstances that you describe-you must only deal with the developer.

[fakser]

5,000 THB is change money in a case of such project. You should have juristic office as your friend rather than foe.