Buying a home in Thailand: verification of the object

Purchasing property in Thailand is not enough just to inspect the proposed facility. What treatments are available after you select an object before entering into the transaction?

First, check the state of the object. To do this, the owner requested all documents on the property. In addition to evidence of ownership, special attention is paid to checking such time as the registration of apartments as condominium, as not all apartments are located in the same building in Thailand are considered part of the same apartment building.

Verification by experts of law firms. The services of a lawyer paid by the buyer, as are the subject of his concerns and guarantees.

Second, there is a backup facility. To do this, the buyer signs a so-called sheet reservations. On the basis of that person, the buyer pays a Deposit of 1%. The booking sheet contains all the basic information about ownership and about the participants of the transaction – the seller and the buyer. As a rule, the inspection and the signing of such a sheet takes 3-4 days.

The rules governing such a deal in Thailand similar to Russian. Namely, in the case of refusal to purchase, the advance buyer will not be refunded, but the exception is the case when the transaction is disrupted by fault of the seller. In such a situation, the entire amount is refunded. According to the law after the reservation object, the transaction must be issued within 30 days.

And in the third stage, the buyer proves his right to acquire real estate. And it provides a certificate that his money brought from another country. For this purpose the Bank of Thailand shall be required to provide special help - Tor Tor 3, Foreigner Exchange Transaction Form. She is proof that the translations of foreign investments. This is very important, because according to the laws of Thailand, to buy an apartment or a house is possible only in the case if you transferred the money from another country, and not in baht. ТТ3 can be obtained as when a Bank transfer of money (Bank transfer or using traveler's checks). And when importing cash. In the second case, cash would be placed in a special Bank account in Thailand.

When all the documents are ready, begins the transaction of purchase of property in Thailand.