How to buy a house at zero cycle construction

Buying a home in Thailand on the zero stages of construction is very advantageous from the point of view of prices. In addition, developers often offer the option of installment payment for several months or even years. However, it provides some risks. Buying an unfinished home even in Russia is fraught with peril, to say nothing about Thailand. Because it is a foreign country with foreign laws and principles. Try to give a few tips that will ease the buying process and minimize the risks.

What information the developer must provide a potential buyer?

The construction company must have the following documents:

• Land documents – the developer must be the owner of the land on which the construction of a condominium in Thailand. The land should not be in the lease and should not be included in the debt.
• Building license – a formal permission to the firm to carry out construction works on the land
• The license for the condominium - the developer must obtain a permit for the construction of a condominium as a foreigner in Thailand to buy housing in these types of real estate.
• Architectural design the layout of the building as a whole and the individual apartments.

The main aspects of the contract of sale.

The contract must be clearly stated the following:

• First, the timing of completion, the completion date. It is important to provide for penalties Builder for violation of the agreed terms. In addition, it is desirable to provide the possibility of termination by buyer of the agreement and the return of money paid in case of breach of terms completion of the construction works.
• Second, the schedule of payments. The standard option of payment in Thailand is considered to be an initial contribution of 30% with further installments. As a rule, the following payments timed to certain dates or specified stages of construction.

Tip – try to match the schedule of payments therefore, to preserve the possibility of financial impact on the developer. Final payment must be paid only after the object will be completed, handed in and corrected all the minor flaws. When buying a home in Thailand last payment., as a rule, is due upon transfer of property rights.

If the developer requires a one hundred percent prepayment, it is better to stop all kinds of talks - most likely, before you cheat.

Third, make the contract a description of key features of the future apartment. Of course, the Builder submits the architectural plan. However, in the process of building it can be all sorts of changes. Therefore, prescribe in the contract such as total area, finishing, furnishing, etc.

If You are planning to buy a house in Thailand, well the initial stages of construction, use the services of professional lawyers and translators. Because all the information that you submitted documents with exotic ornaments in the Thai language. Carefully think over all your steps until the conclusion of the contract to prevent the unpleasant moments that may not be able to fix it.