Advice On Signing Contract For House

[dmax]

i have just tonight made a deal on a house today , its a good deal as ive been looking around for a long time now and me and my wife are very happy with the price ( the thai lady needs money as she has finished with farang husband and has no income ) , i have spoken to a lawyer today and i am due to go tomorrow morning with the thai owner of the house to his office , she is bringing original chinote title deed with her . she also states that today she could not bring chinote with her as the bank has it , i questioned this and she said "its not a bank but a shop i borrowed money from " anyway she said she will have chinote in morning when we go to lawyers and i demanded she bring original bank loan or what ever she borrowed against this house with her.

is there anything else i nedd to know ? what are the going rates a lawyer service charges ? transfer rates from her name into mine and also rates for a 30 yr lease in my name ? also any important clauses i should put in the contract ?

i will make deposit in morning and complete in 15 - 30 days in full.

thanks in advance

[Delight]

I cannot offer any legal advise .

However I suggest the following

If you proceed pay all except say 100,000 Baht

This will be paid in cash the day that she leaves.

Kon Thai have a habit of selling -everything 100% legal-but then refuse to move on the agreed date.

Typically they run up the bills for as long as they can.

If the deal included furniture -they often leave with same. Classic 'Midnight Flit'

[InterestedObserver]

The loan shark will need to be paid off before the deal goes through. Take a look on the back of the chanote to see if any other encumbrances are registered. Also you need to realize that no agreement (contract) for a 30 year lease you make with your wife is 100% safe. As for the legal stuff, that's what you are paying the lawyer for.

Edited March 31, 2011 by InterestedObserver

[Khun Jean]

A loanshark loan will not be registered on a chanote, like other loans from banks.

If they are of the 'difficult' types they will however make sure they get their money back one way or the other.

Make double sure this debt is paid of, otherwise the house would be a target for 'compensation' as no doubt the owner will be far far away. If the owner does not want to tell ask some people around the area, they probably know who this 'loan shark' is. Probably an old chinese lady.

No cash should exchange hands before the chanote is signed and transfered. People at the landoffice can act as an short time 'escrow' making sure the deal is sealed according to both parties wishes and contract.

Edited March 31, 2011 by Khun Jean

[MikeyIdea]

Standard rate in Bangkok is approx. 10,000 bath for a full day at the land office, 8 AM to 4 PM.

I am not sure I would buy that house - well, unless the loan shark is paid off in full that is.

Make sure that no money or only a small deposit (what you easily can accept to lose - 100,000 bath sounds good) is paid to the owner until you see the chanote and it is clear from loans. If there are loans registered, have the lawyer check them. Writing a letter of atterney authorising him to confirm himself with the bank takes 10 minutes for a lawyer, handwritten A4 paper signed with 2 witnesses and copy of id card will do, that's what I would do.

The rest of the money is paid after the chanote is transferred into the wifes name at the land office, absolutely not before that. Paying the last 100,000 bath when the owner leaves could be prudent if you feel that perhaps she has reasons to want to stay, otherwise not. A Thai will know / feel if this is necessary

The lawyer will advice what to write in the contract. The seller accepts and confirms that any loans / debt (except legally registered on chanote) is the old owners private responsibility and not related to the property sounds good

"i will make deposit in morning and complete in 15 - 30 days in full. " OK, that's fine, make sure that you only pay the main bulk of the money after you see new owners name is on the chanote

Edited April 1, 2011 by MikeyIdea

[dmax]

thanks guys,

im now back in uk due to fly back out before 1st may 2011 to clinch deal, i got very good price on this house so im very happy with it, ive paid 50000 baht deposit, the lawyer videod my wife and the other thai girl with me as witness , he videod them saying that she was only to take furniture and not fixtures or fittings, when i go back within 1 month to sign and pay the rest i will give her 2 days to move out completely before she is paid in full and locks etc will be changed. lawyer called loan shark in his office in front of us and loan shark is getting his 600,000 baht out of it before she gets her cut, the chanote is in her name so to me all looks good and above board. lawyers fee is 10-000 baht 5k now and a further 5 k when deal is done and finished. sounds fair from my side anyway, we are paying transfer costs also in my wifes thai name not mine !!