How can my Thai wife purchase condo in Thailand?

[papayabob]

Hi

I have been married to a Thai lady for 15 years, and we live outside Thailand. We have been looking at Rayong and Chiang Mai to purchase for a serviced appartment to stay in a few months each year. Suppose I want to send my Thai wife to take care of the purchase without me being present, is there anything in particular we should be aware of? These are the steps as I see it:

1) Wife goes to Thailand

2) Wife creates bank account in Thailand

3) We transfer money to new Thai bank account

4) We hire a Thai lawyer

5) Wife purchases appartment at agents office with help from lawyer

6) Done deal, and wife can return home!

Is it this easy, or did I miss something?

[beachproperty]

Well ....the part you missed (which is the hardest)....is finding the right condo at the right price...which if you are going to do it right takes time....you sound like you just fly in and buy the condo!

Personally I would never ...And have never...used an agent. Better to do your own homework and footwork. If you think Realtors in the west are bad....multiply that by 10 and you have a Thai Real Estate Agent. They will tell you things that are NOT true and not to worry.....AND don't go with an Attorney recommended by an Agent (if you feel the need to use one find him/her on your own ....I have bought and sold properties in Thailand over a 10 yr period and never used an attorney AND NEVER have had a problem ....) .

More sellers than not just put a sign on their property to try and sell themselves (including condos). Usually they still will pay a commission (3%) to anyone (including the taxi driver) who steers the buyer to the purchase. Or just discount the price if you find it yourself.

Also ....I don't understand ....you are going to make a major purchase and YOU don't want to be there to help make that decision (ie. "Wife goes to Thailand" )

Lastly ....and my apologies if this post sounds harsh (not my intent)....You indicate you are debating between Chiang Mai and Rayong....best thing to do is to decide FIRST which area you want to be in and go from there. Remember each area has its good and bad points ....Chiang Mai has the burn season where seeing and breathing are difficult (Feb. to April ????) ....Rayong has Map tap Phut to the West (Industrial Estate)....Personally I live in Rayong and do not find Map Ta Phut a problem but many do .

Well ...anyway....good luck....

Edited September 5, 2015 by beachproperty

[blackcab]

^ Exactly what beachproperty said.

[scorecard]

Well ....the part you missed (which is the hardest)....is finding the right condo at the right price...which if you are going to do it right takes time....you sound like you just fly in and buy the condo!

Personally I would never ...And have never...used an agent. Better to do your own homework and footwork. If you think Realtors in the west are bad....multiply that by 10 and you have a Thai Real Estate Agent. They will tell you things that are NOT true and not to worry.....AND don't go with an Attorney recommended by an Agent (if you feel the need to use one find him/her on your own ....I have bought and sold properties in Thailand over a 10 yr period and never used an attorney AND NEVER have had a problem ....) .

More sellers than not just put a sign on their property to try and sell themselves (including condos). Usually they still will pay a commission (3%) to anyone (including the taxi driver) who steers the buyer to the purchase. Or just discount the price if you find it yourself.

Also ....I don't understand ....you are going to make a major purchase and YOU don't want to be there to help make that decision (ie. "Wife goes to Thailand" )

Lastly ....and my apologies if this post sounds harsh (not my intent)....You indicate you are debating between Chiang Mai and Rayong....best thing to do is to decide FIRST which area you want to be in and go from there. Remember each area has its good and bad points ....Chiang Mai has the burn season where seeing and breathing are difficult (Feb. to April ????) ....Rayong has Map tap Phut to the West (Industrial Estate)....Personally I live in Rayong and do not find Map Ta Phut a problem but many do .

Well ...anyway....good luck....

Agree totally about avoiding agents. They are not interested in your needs or desires, they just want the biggest possible commission and you never know what's going on behind the scenes with collusion between the seller and the agent.

Also agree if you get the steps and requirements in order and follow them you don't really need a lawyer. The transfer process at the land titles office is not really that complex.

Also, many agents will try to insist you must pay them a commission regardless whether they introduced you to the property or not.

Agree, decide a location, then search yourself.

You don't mention whether you want new or already established. If you want already established it pays to do some detective work about the internal owners committee, are they really attending to maintenance, are the books in order, is there a sinking fund, are they complying with the various laws involved, etc.

Are the owners observing the condos own rules. E.g. about what types of business activities are allowed to be conducted from a condo unit, do owners have multiple dogs which bark all night.

It takes time but go for it. Good luck

[Kannikapor88]

Stear clear of Real Estate Agency in Chiang Mai ... esp a certain one (PM me and I give you Company name ...)