How does the conveyancing/selling process work in Thailand

[henryford1958]

I am looking to sell my condo !! and use the proceeds to buy another property. How does the conveyancing process work here? I presume the buyer/seller meet at the Land Office, the buyer hands over the cash and the seller gives him the chanote. But then does the buyer expect the seller to move straight out? I could not commit to buying another property until my sale was complete, with the cash in hand. Are you expected to move into temporary accommodation, and store your belongings, until you can complete a purchase?

In the UK the lawyers would arrange a simultaneous exchange of contracts so you moved out and in on the same day.

[bkk6060]

Depends on the situation 100,000's units for sale out there many are empty so available for quick move in.  If not, negotiate something with the buyer/seller.

[Peterw42]

1 hour ago, henryford1958 said:

I am looking to sell my condo !! and use the proceeds to buy another property. How does the conveyancing process work here? I presume the buyer/seller meet at the Land Office, the buyer hands over the cash and the seller gives him the chanote. But then does the buyer expect the seller to move straight out? I could not commit to buying another property until my sale was complete, with the cash in hand. Are you expected to move into temporary accommodation, and store your belongings, until you can complete a purchase?

In the UK the lawyers would arrange a simultaneous exchange of contracts so you moved out and in on the same day.

It doesn't work like the UK, you move out the day you sell, whether you have another property lined up or not. The buyer wont care less if you are waiting to purchase elsewhere. There are no chain settlements or moves.

[CallumWK]

1 hour ago, henryford1958 said:

Are you expected to move into temporary accommodation, and store your belongings, until you can complete a purchase?

 

Why you think anyone would pay you in full, and then accept that you continue living there rent free until you find a new place that meets your expectations?

 

[henryford1958]

48 minutes ago, CallumWK said:

 

Why you think anyone would pay you in full, and then accept that you continue living there rent free until you find a new place that meets your expectations?

 

 

I don't. I just wondered what people normally do after selling, go into rented accommodation for a few months. But then you have to store your belongings (where) and maybe take out a long lease before you can even start looking for a new property.

[newnative]

     At what date the buyer takes possession of your condo can, and I believe should, be spelled out in the sales contract and agreed to by both parties.  And, yes, there should be a detailed sales contract to avoid any issues/questions coming up.   Does the cuckoo clock convey?  Check the sales contract addendum of items that convey.

    You, as the seller, with the approval of the buyer, can decide when you want to go to closing at the Land Office and you can also write into the contract the option to rent back at X amount each month for Y number of months while you buy your next condo.  Of, course, the buyer needs to agree to a rent back and the terms.

     In your case, if a buyer demands immediate possession at closing, you might need to secure a short-term rental of a few months to allow you to look for and buy your next condo, since you need your sale money and will not be buying one before your sale.   You should propose a closing date that allows you ample time to find and move to your next accommodation, if you can't rent back.

Good luck with your sale.

[newnative]

2 hours ago, Peterw42 said:

It doesn't work like the UK, you move out the day you sell, whether you have another property lined up or not. The buyer wont care less if you are waiting to purchase elsewhere. There are no chain settlements or moves.

     This is not entirely correct, at least in our experience.   With several of our property sales here, we rented back for short periods and did not move out on the date of the sale.   The rent back details were spelled out and agreed to by both parties in the sales contract.  A sales contract can have just about anything in it that the two parties agree to, as long as the 'anything' is legal, including rent backs.  

[Peterw42]

18 hours ago, newnative said:

     This is not entirely correct, at least in our experience.   With several of our property sales here, we rented back for short periods and did not move out on the date of the sale.   The rent back details were spelled out and agreed to by both parties in the sales contract.  A sales contract can have just about anything in it that the two parties agree to, as long as the 'anything' is legal, including rent backs.  

Yes, of course you can arrange to rent back from the new owner etc., but the OP is talking about a chain of settlements where a property settlement, move in/out, is conditional on another property settlement, its something you see in UK property TV shows.

[newnative]

4 hours ago, Peterw42 said:

Yes, of course you can arrange to rent back from the new owner etc., but the OP is talking about a chain of settlements where a property settlement, move in/out, is conditional on another property settlement, its something you see in UK property TV shows.

   Thanks, got it.  I was focusing with my answer on the OP's question, 'Does the buyer expect the seller to move straight out?'