Solicitor for Condo Purchase.

[Mason45]

Hi all,

I'm about to purchase a condo in Pattaya, could someone please tell me what fees I should expect to pay a decent solicitor in Pattaya to purchase this property. Thanks.

[mike324]

If you are purchasing the condo, you don't need to pay the agent any fees, the seller is the one who is suppose to pay the agent. If that is what you mean by solicitor.

[Delight]

You need your name on the Condominium Tilte Deed -Organised and supplied by Land office

Land office need Transfer fees - Evidence that you have brought the money into Thailand (FET)-Certificate to verify that the condo in question is debt.free

Seller needs your money.

Typically all this happens at the land office

You do need to be organised

You do not need a lawyer

Your post suggests taht you are British.

No 'searches' in Thailand

If you are not happy to get organised or are just lazy -or are out of the country -then you do need help.

I do know a Law company in Pattaya . They are perfect for your needs

Email me for details. You can then phone them for a price.

[blackcab]

Take money to land office. Hand it over when land office indicate. Wait for Chanote.

If you need a solicitor to do that there are plenty who will charge you to sit next to you and watch you do it.

[wpcoe]

Perhaps the OP wants assistance in drawing up a safe and equitable purchase agreement? e.g. Before handing over deposit money, he'd like some sort of document with terms and conditions?

[Seizetheday]

I use Pensit and Laws in Jomtien. Melvin is fluent in English and is very trustworthy, I've dealt with him for about 3 years and I know two other people who are clients of his.

[chiang mai]

If you are purchasing the condo, you don't need to pay the agent any fees, the seller is the one who is suppose to pay the agent. If that is what you mean by solicitor.

A Solicitor is the British term for a lawyer,.

[chiang mai]

Take money to land office. Hand it over when land office indicate. Wait for Chanote.

If you need a solicitor to do that there are plenty who will charge you to sit next to you and watch you do it.

I agree with Blackcab yet again!

Although I also agree that some form of document is also very useful as the deposit is handed over, something that both parties sign setting out details of the transaction and the terms of it.

EDIT to add: my most recent reference to lawyer fees paid by a friend in Chiang Mai were around 10k, based on a 5 mill. condo purchase, three years ago.

Edited June 28, 2016 by chiang mai

[Mason45]

Hi all, thanks for your imput, let me be more specific. The condo I've chosen ticks every box, that's why I need assistance, as the property is in the name of a Thai company and the owner lives in Europe. The owner told me he had to purchase the condo in a Thai company name because the foreign quota of 49% had already been reached when he made the purchase. He will be in Pattaya in 2 weeks so if he's the owner why has his lawyer given him power of attorney to sell. So what I really want to know is what should I expect to pay a lawyer in Pattaya for his services in searching all the details pertaining to this sale. By the way I have a Thai wife, married 15 years and the property will be registered in her name. So if it wasn't for the Thai company ownership it would be a very straight forward transaction at the lands office. Thanks again.

[chiang mai]

Hi all, thanks for your imput, let me be more specific. The condo I've chosen ticks every box, that's why I need assistance, as the property is in the name of a Thai company and the owner lives in Europe. The owner told me he had to purchase the condo in a Thai company name because the foreign quota of 49% had already been reached when he made the purchase. He will be in Pattaya in 2 weeks so if he's the owner why has his lawyer given him power of attorney to sell. So what I really want to know is what should I expect to pay a lawyer in Pattaya for his services in searching all the details pertaining to this sale. By the way I have a Thai wife, married 15 years and the property will be registered in her name. So if it wasn't for the Thai company ownership it would be a very straight forward transaction at the lands office. Thanks again.

I don't know how it is in Pattaya but the Land Office has been actively cracking down here in Chiang Mai Province for over three years, on people who buy property through a company where the sole purpose of the company is to own that property, my understanding is that the LO takes the same dim view everywhere but is less and more active in some parts of the country than others. Bottom line is it's illegal, two of my friends were caught out on this one year ago and were given six months to close the company and transfer the property. Lawyers may not tell you all of this because it means they loose business, it is however a fact that it's against the law.

[ballbreaker]

It should be easy because the company that currently owns condo is selling that asset. The owners of the company will be responsible for closing down the company.

Since a foreigner cannot own more than 49% of Thai company it requires a power of attorney from vote of share holders I suspect. Remember at least 2 Thai people own 51% of the company and perhaps lawyer and someone he knows are those 2 people.

Make sure your purchase contract states you are only buying the condo asset from company. Also confirm you agree at most to only pay the transfer fee (2%) from below listed transfer cost.

Transfer Cost

Transfer fee rate= 2% the buyer or 50/50 split Specific Business Tax rate= 3.3 % the seller (if owned less than 5 years) Stamp duty rate= 0.5%* the seller (if owned more than 5 years) Withholding tax (income) rate= 1% or progressive rate** the seller (as this relate to the seller's personal or corporate income tax)

If you feel uncomfortable walking through process on your own what's another 5k-10k baht to hire someone if your spending millions of baht on purchase.

Four years ago I used Lek at Pattaya Real Estate & Consultants after she was recommended by several people. At that time it cost 5k baht for her to review my contract and accompany me to land office and insure all ducks were in line before I handed over cashiers check. Her office is located on Pattaya Tai a couple shops past Soi 10 going toward Sukhumvit.

Edited June 29, 2016 by ballbreaker

[blackcab]

Good advice from ballbreaker. Do not buy the company, buy the property from the company.

You (or your wife) will know when this happens because your wife's name will replace the company name on the back of the chanote.

[Mason45]

Thanks again, the info has been very informative, especially the power of attorney where a Thai company is concerned. I will pay a visit to Lek at Pattaya Real Estate & Consultants tomorrow.