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Do I need an attorney? Condo purchase


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If you do all the research yourself you won't need a lawyer. You've done the first thing by checking the accounts, see most recent AGM minutes, see how often they have a supplementary fee, so you understand what the common fees really are. The office can confirm if it's foreign quota or there's enough quota left, can issue a draft letter for you

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Being you are asking, that would yes, you need, should be inexpensive.

 

Due diligence if anything owed ... just a guess, but as I yank, I would think he means a title / deed search for outstanding debts, loans against, anything (called clouds in USA) that the property was used as collateral for a loan, and or any judgements against the property.  

 

Unless you are fluent (reading) Thai, then a lawyer is a good idea.  Thai is the only binding contract language accepted.

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1 minute ago, KhunLA said:

Being you are asking, that would yes, you need, should be inexpensive.

 

Due diligence if anything owed ... just a guess, but as I yank, I would think he means a title / deed search for outstanding debts, loans against, anything (called clouds in USA) that the property was used as collateral for a loan, and or any judgements against the property.  

 

Unless you are fluent (reading) Thai, then a lawyer is a good idea.  Thai is the only binding contract language accepted.

I hear that if there is a loan on the property the owner wouldn't have the chanote. As for reading thai, i used google lens at the land office and it worked perfectly

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In Thailand, where do we control

1) The actual owner of the condo? 

 

2) if there's a mortgage/encumbrance on a unit? Juristic Office or is there a public/government space for this?  

 

I've read many stories (mainly off plan/new builts) that a few years down the line he/she finds out he/she is not the real owner. I'm thinking of buying hence want to check this out. 

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I remember when I bought a condo in 2010, brand new, I had a lawyer look over the sales contract, and he did find allot of misinterpretation mistakes when they translated it into English, I believe he only charged me 20,000 Baht, and I felt it was worth it.

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22 hours ago, dia1 said:

 

My question is... Do I need an attorney for the process?

No, you don't. 

You can take a copy of the chanot to the land office and they'll tell you if the property is mortgaged or has any court proceedings hanging on it. You can ask at the condo office re foreign quota (if the quota is nearly full and you're still weeks from transfer of ownership - it might be a problem, as the quota will be updated everyone there'sa change of ownership of any of the units) and also if all fees were paid by current owner or if he owes money to the building. 

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When I bought my Thai condo 3 years ago, the super efficient estate agent drew up the sales contract. I made an appointment with a lawyer to review the contract. After taking a few minutes to read it through, he said it was all OK. When I asked him how much I owed him, he said forget it, no charge. Can’t imagine a lawyer in Australia doing that! The estate agent then organised the transfer at the land office. 

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4 minutes ago, CygnusX1 said:

When I bought my Thai condo 3 years ago, the super efficient estate agent drew up the sales contract. I made an appointment with a lawyer to review the contract. After taking a few minutes to read it through, he said it was all OK. When I asked him how much I owed him, he said forget it, no charge. Can’t imagine a lawyer in Australia doing that! The estate agent then organised the transfer at the land office. 

Good point that the agent can help with the transfer at the land office, they are getting big commission so should be helping, they should be more expert than a lawyer at that process

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11 hours ago, Peterw42 said:

The Land office has all the information and controls owner, mortgage etc.

The land office wont transfer the property unless the owner shows they are the owner, the land office wont transfer the property unless any mortgage is cleared, foreign quota is met etc. If there is a mortgage, its written on the back of the chanote (title deed) and the sale wont happen unless the bank is also at the land office to clear any mortgage.

Simply put, you dont exchange the money until your name is on the title deed, and the land office wont put your name on the tile deed unless everything is in order.

Stories you hear about finding out you are not the owner etc, are rubbish.


Extremely appreciated (and comforting), thanks! 🙂

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2 hours ago, scubascuba3 said:

Good point that the agent can help with the transfer at the land office, they are getting big commission so should be helping, they should be more expert than a lawyer at that process

Sure, but between "should be more expert than a lawyer at that process" and they are experts and they care enough to care about the buyer there are differences. The priority for many (most?) agents is to make money - as much and as fast as possible.

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16 hours ago, Peterw42 said:

The Land office has all the information and controls owner, mortgage etc.

The land office wont transfer the property unless the owner shows they are the owner, the land office wont transfer the property unless any mortgage is cleared, foreign quota is met etc. If there is a mortgage, its written on the back of the chanote (title deed) and the sale wont happen unless the bank is also at the land office to clear any mortgage.

Simply put, you dont exchange the money until your name is on the title deed, and the land office wont put your name on the tile deed unless everything is in order.

Stories you hear about finding out you are not the owner etc, are rubbish.

This is correct.

 

1. Always ensure that you negotiate a sales price with Vendor to pay all tax and transfer costs.

2. Request copy of Chanote and copy of Vendor's ID card (Thai) or passport (Farang)

3. Check to make sure ID matches name on Chanote.

4. If land (not condo) check (whoa chanote) peg numbers match those on Chanote.

5. Get your bank to issue a cashiers check for full purchase amount in the name on Chanote.

6. Go to Land office.  Give them a copy of your passport. They will check the back of the chanote to ensure it is clear of any encumbrances and then type up a new copy with your name on it. 

7. Double check your name is correctly spelled on the new Chanote.

8. Give the cashiers check to Vendor.

 

It is as simple as that.  

 

 

 

 

 

Edited by Adumbration
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1 hour ago, Adumbration said:

This is correct.

 

1. Always ensure that you negotiate a sales price with Vendor to pay all tax and transfer costs.

2. Request copy of Chanote and copy of Vendor's ID card (Thai) or passport (Farang)

3. Check to make sure ID matches name on Chanote.

4. If land (not condo) check (whoa chanote) peg numbers match those on Chanote.

5. Get your bank to issue a cashiers check for full purchase amount in the name on Chanote.

6. Go to Land office.  Give them a copy of your passport. They will check the back of the chanote to ensure it is clear of any encumbrances and then type up a new copy with your name on it. 

7. Double check your name is correctly spelled on the new Chanote.

8. Give the cashiers check to Vendor.

 

It is as simple as that.  

Thanks

Is there a contract? And if yes, are there any approved sample contracts in Thai and English maybe online somewhere?

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The guys above listing points to look at don't know all the points. You are going to be at one end of a contract governed by Thai law. No poster in this thread has credible expertise in Thai contract law or the ins and outs of what to look for in a multimillion b. asset sale (prove me wrong - "I bought and sold 5 properties in the last 10 years" is laughable).

 

Get a reputable legal firm on  your side. Think of it as health insurance. You may hate paying the premium each healthy year but that proverbial bus could be around the corner. Heck, even 50k b. legal fees is 1% of a 5mil deal. It's cheap insurance.

Edited by Why Me
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3 hours ago, Adumbration said:

This is correct.

 

1. Always ensure that you negotiate a sales price with Vendor to pay all tax and transfer costs.

2. Request copy of Chanote and copy of Vendor's ID card (Thai) or passport (Farang)

3. Check to make sure ID matches name on Chanote.

4. If land (not condo) check (whoa chanote) peg numbers match those on Chanote.

5. Get your bank to issue a cashiers check for full purchase amount in the name on Chanote.

6. Go to Land office.  Give them a copy of your passport. They will check the back of the chanote to ensure it is clear of any encumbrances and then type up a new copy with your name on it. 

7. Double check your name is correctly spelled on the new Chanote.

8. Give the cashiers check to Vendor.

 

It is as simple as that.  

 

 

 

 

 

No.7 is in Thai so ensure you know how to spell your name in Thai before you go

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7 hours ago, OneMoreFarang said:

Sure, but between "should be more expert than a lawyer at that process" and they are experts and they care enough to care about the buyer there are differences. The priority for many (most?) agents is to make money - as much and as fast as possible.

The agent will get commission for the sale anyway, so wants it to go through smoothly, but you need to understand the whole process so you can check it along the way. If you get a lawyer ask them to list out what they do for the money, i think they will balk at that, some may not do much at all. I'm not even sure a lawyer would pick up  irregularities

Edited by scubascuba3
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I’ve bought and sold a number of condos and never used a lawyer. Though I’ve never bought from a private individual I’ve sold to one. What I have always done is have a trusted Thai friend be there for translation purposes.

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     You don't need a lawyer but I think it's worth it to have one to check over the sales contract and make sure everything is spelled out in detail, you are covered on everything, and there are no ambiguities.  The lawyer should be with you at the Land Office to make sure everything is done correctly and to handle anything that might come up--and things sometime do come up.  

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55 minutes ago, newnative said:

     You don't need a lawyer but I think it's worth it to have one to check over the sales contract and make sure everything is spelled out in detail, you are covered on everything, and there are no ambiguities.  The lawyer should be with you at the Land Office to make sure everything is done correctly and to handle anything that might come up--and things sometime do come up.  

you seem to know about these things, if there is a mortgage on a property wouldn't the bank hold the chanote?

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