Selling Land: Procedures on Buyer's Offer

[EBlair48]

Have had an interested party come by regarding land for sale, a Thai man, who seems to not have an idea on what a written offer is, though I have the worker communicating with him.

Do they not do that here? Back home, I would expect a written offer with the land title number and details requested price and a deposit check of 10 % .

However I do kow checks are not widely used in Thailand.

What is the normal procedure ?

Thanks

[Canada]

Negotiations are usually carried out verbally and face to face between the buyer and seller. If there is an agent, you will not want the agent in the middle with you two apart dealing through the agent. Agents here are scum. If you allow them, they will inflate the price to the buyer and get you for 3% commission.

Details are worked out between you and the buyer and some of the details are and usually include; taxes and transfer fees (standard is that seller pays taxes, buyer pays transfer fees, but it is negotiable), amount of deposit, latest date for close of sale (i.e.. 45 days), and what the sale does or does not include (furnishings etc)

What happens then is that you write an agreement for sale. It will list the terms and conditions of the sale. I had a lawyer do them for me before and translated them into english myself and used the two separate agreements, but now use a standard form (Thai language), which you can buy from a store. You need witnesses present for the writing of the agreement ( at the very least) and the negotiation if you can, but not necessary. Have someone you trust to write the agreement. You will need copies of the ID of the owner of the house or land and ID of the buyer to include with the agreement as well as copies of the chanote title front and back and the original to view.

I can speak Thai well and read well enough to get me through a negotiation like this. If you cannot, you really need an interpreter to help. Get native thai that can speak english well, not the other way around.

Take cash for deposit on writing agreement, cashier cheque or bank draft to avoid problems. I have taken a personal cheque, but IDK, I like cash.

Most important is to get the middle man out of the middle. He gets his or hers 3% of the sale. Keep it to that. Deal with the buyer direct and accept nothing less. Lately, I've run into some agents with an extreme moral deficiency.

Good luck.

Edited May 25, 2014 by Canada

[PattayaPhom]

No 3rd party mentioned.....you seem like the kind of guy that gets an agent to do all the footwork then stab them in the back and offer a lower price to the buyer. OP beware people like this.

[EBlair48]

^^

Thank you for all that info,

So, regarding an initial offer.

1 to expect a deposit with the offer? In cash or certified bank check

2 and how much - 10 % is usual back home, I have a feeling here in land O scams it would be much lower..

I am keeping agents out of it. The land is already generating interest with just some hand written signs up. You mention

stores where contracts can be bought. What kind of stores?

Does TV have blank contracts? I can get any Thai translated.

Thanks again

Edited May 27, 2014 by EBlair48