Buying a second-hand condo

[BKKBobby]

If you work with a reputable real estate agency they should be able to refer you to a reputable law firm for representation in the transaction.

I don't know if they have anything like RE title insurance in Thailand but that is a traditional element of the purchase process in the US.

SunLover

But a reputable real estate agency in Thailand are just expensive middlemen adding highly unproportional extra cost on the price of the condo, or not? In my home country the agent gets payed a percentage of the final price usually after potential buyers bid. I dont want to pay 5 million baht for a 4 million baht condo...

Nobody wants pay 5M baht for a 4M baht property. That is a universal truism. You can always make an all cash/quick close offer that is lower than the asking price. In other words offer what the property is worth TO YOU and let the chips fall where they may. You will likely have to make a bunch of low ball offers to catch that one fish.

I would not make a rookie real estate purchase in a foreign country without local professional representation with local market knowledge on the buy side. YMMV.

SL

I count buying a condo in Thailand as a loss. A draw or win would be a bonus. I dont want to assign "too much" of family money or bank loan on one condo in LOS becauase im 32 years old and probably need to change condo 2-3 times more before I die. At this point in life Im OK with 45-65 sqm. Im not going to have children, its a certainty. I want to own the condo i renovate and decorate. I have been living in 45-50 sqm since I moved out of my parents home.

My fear is to pay money and just end up with a worthless papers. Someone made a post about how to avoid it.

I dont want to buy from the developer because my budget is around 5 million baht and I dont want to assign more money to buying my BKK pad. 5 million baht isnt enough to get a 45 sqm from the developer in the Asoke area.

[stufbangkok]

I can't comment on your budget and where to buy in Asoke, because I am not familiar with the condo market there. If you feel that the prices are too high, why don't you try a bit away from central Bangkok. On Ratchadaphisek Road there are hundreds of condos for example. And you have the Subway right under your feet.

You also need to read up on buying a condo here. I am not sure if I am breaking any rules on this forum by providing the links, if so I apology. I spent a little time finding these links for you. As a fellow Scandinavian I wouldn't like to see you (or anyone else of course) being cheated.

http://www.thailandlawonline.com/article-older-archive/thailand-condominium-buying-foreign-ownership

http://www.samuiforsale.com/knowledge/practical-legal-for-condos.html

Your condo will probably not be at any loss if you keep it for 5-10 years (if you have purched it at marketprice that is). Only if you one day need to sell out of urgency you may loose on the price, but if you have the time to find a buyer and the price is right, you won't loose anything, maybe even make a small profit after a number of years.

Regarding lawyers which you hate in Thailand, don't be afraid of this. Visit Scandasia dot com website, Maybe a Swedish or Scandinavian Law office advertises or has been mentioned somehow, ask your Swedish embassy for a list of recommended lawyers. Swecham, Sweden-Thailand Chamber of Commerce may also have advice for you on their website. Most law offices will give you half or a full hour of free consultation with advice, so use your own good judgement to find a lawyer. And don't go on a cheap budget with a Lawyer. If you can pay 5 million for a condo you can also pay a lawyer 100,000+ Baht to ensure that you don't get cheated in anyway

First step to take is: Read up on the condo act and information, so when you finally go to see a lawyer you ALREADY know a lot about buying a condo here.

Last info for today: http://www.swedenabroad.com/SelectImageX/105388/070529_Lawyer_list.pdf

[BKKBobby]

So can anyone recommend a good lawyer? But if they rip me off you better find a new country to live. Classic.

Bobbybkk you have been on this forum to much this past week and you are starting to be a keyboard warrior. Go outside and get some air.. 2pm Monday @ exchange tower... lol

Yes you are right. It went so far that I became suspended (and got the much needed fresh air)because of a insulting post I did on another thread. Too much free time used on TVF these past weeks, people baiting, provocing, trolling and accusing/insinuating that you dont tell the truth, etc...

I got a brain melt down as seen in this thread. Really silly of me.

But when I logged on again I saw some genuine friendly advice.

Im going to try getting as much knowledge as possible.

Im going to get legal service, just have to try my very best and put effort and time into finding genuine legal service. If they provide genuine quality service then Im willing to pay.

Edited March 29, 2015 by BKKBobby

[stufbangkok]

Buying a condo is one thing - but living in the condo afterwards is another. Once you have found a condo and a price level you like you need to check up on the condo itself, especially the Condo Management before your actual purchase of the condo unit. I could give you a link to very important information but i guess I would be in trouble with Thai Visa forum rules here, as the link is maybe a kind of competitor law office to some of the sponsors on this forum, so I suggest you to Google: condo and condo management in Thailand. Check out the listed search result and look for information about

- Condominium Rights Thailand Property

- Maintenance Fees

- Rules and Regulations

- By-Laws of the Condominium

- Know your Condominum Juristic Person

- Condominium Politics

This is very important too. Rarely do people think about these things in their haste to purchase a condo here. I wish I had known all these things myself when I bought my condo 20 years ago, but of course there wasn't the internet and any forums or websites to help me at that time. And even my very god personal Thai friend with his own pretty large Thai law office at that time had no ideas or knowledge about all these issues i have told you here.

PS: When I write "MY condo" it is kind of misleading of course, at that time 20 years ago, foreigners couldn't purchase a condo themselves, this is more recently only, maybe ten-twelve-years ago (I don't remember exactly), that a law came into effect where foreigners could purchase too.