Pre-Liminary Sales Contract And Dangers ?

[Jomtien]

So,

I friend of mine want to buy a house, the owner Thai of the house lives in Norway, (the house is not occupied)

They intend to make a sales contract with 500.000 Deposit. With sales price of 5.2 Mil.

The owner has a loan with the SCB of 2.5 Mil. so the chanot (title deed) is with the bank.

My friend will setup company for owning the house (please no comments on this way to setup...!)

The time between signing contract + deposit and transfer date is almost 5 months. (due work limitations of the seller she can not come earier)

What type of precautions the buyer can take, that the seller will not try to pay off the loan with the bank in this 5 months, and resells the house to an other party, without the buyer knowing?

Many thanks !

[Jomtien]

Can't edit my post anymore, but one thing more.

If there is no mortgage on the house, could then the pre-sales contract be attached to the Chanot at the landdepartment at a certain cost. (like they do with long term leases) ??

Thanks !

[thaiwanderer]

Is the seller's presence in country required?

Are you that keen on this property?

You could use an escrow although offshore may be better (perhaps in the seller's jurisdiction).