Buying A Condo In Thailand - Any Advice?

[pkrv]

"hello. Stop! buy in thailand! mean i see many ghost-condo, many house and brutal building, specially in bangkok,koh samui, koh phanghan and patong. nothing people see this? building for what? if many condo are unsolds. i think better 'building, but with brain.'"

Well, you certainly cleared that up...

This poster is a 29 year old Italian, male, pastry chief, and IMO is asking questions that he is having to pose in a written language that is not his own - Hence the confusion.

The answers to his questions are really simple:

Choose the area where you wish to buy (own)

Make sure it is a foreign quota condominium (Farang quota)

Make sure it is freehold (NOT leasehold)

IMO (at this time) make sure it is second hand (has been owned in the past)

Check out the juristic people. These are the people responsible for running the condo

See if you will be happy with what you are going to be buying.

If unsure then rent first.

All the other issues then become irrelevant.

Edited October 21, 2009 by pkrv

[coralia]

Just curious, pkrv: why is it important that the condo should be freehold and not leasehold? And why is it important that it should be second hand?

Thanks.

[SametLover]

Hi

What about those Real states that gives the buyer rental guarantee in 3-5 years ? It would be very interesting to know it!!!!

[london]

As usual, PKRV is spot on, particularly re 2nd hand condo and the Juristic person/building management.

I certainly wouldn't be looking at any new projects.

Why? Too small and too poorly built....and thats just for starters.

Until a building has a few years of wear and tear, problems tend to be overlooked. Its only after at least 3 years when the value of a sound financial building common fund and a good Juristic management committee really come into their own.

[NormanW]

I am considering buying a small condo studio in Thailand, and I am wondering about the practical issues involved... Could anyone advise me?

I am not residing in Thailand, I have never worked in Thailand and I have no intention of working in Thailand. I simply visit very often, and I am planning to apply for a retirement visa when I'll be 50 - however, I am several years short of that age. I may decide to apply for a student visa before that, as I am genuinely interested in studying the Thai language (I am a linguist).

Is it legally possible to buy a condo in Thailand while not residing in the country?

If so, does the fact of owning a condo in Thailand make any difference when applying for a visa (tourist visa, student visa...)? Or is there no connection between the two?

What are the legal aspects of buying a condo in Thailand? I assume all the paperwork is in Thai... How does one go about the whole process without getting cheated...? Should one place the whole matter in the hands of a legal firm? If so, can anyone recommend any reputable legal firms handling such matters?... And how much should I expect to pay for this service?

And there are probably many other issues I haven't thought of yet... Any advice would be very much appreciated...

Many thanks in advance.

NEVER NEVER NEVER buy off plan!!!