Property Service Package in Thailand - Juslaws
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Property Service Package in Thailand


A property service package contains services that are generally needed especially for a foreign acquisition of property. It is suggested that you perform these services before making any major decisions on any interested property in Thailand. It is for this reason that we include these services in an entire package so you can view this as a whole. These are the process and steps involved from the beginning of your purchase till the end when you have the ownership of the property transferred. Please contact us for more information. We will be more than happy to assist you.

Property Title Search


A title search is most important and much recommended before purchasing any kind of property whether it is a piece of land or a condominium. This will involve conducting a search on the relevant property to determine whether the property is capable of being sold legally, that is to say that the asserted owner is the true owner of the property. It also will determine if there are any registered encumbrances on the property such as a loan, lien or a mortgage and will trace the land to its first possession. This investigation will also verify the right to access to your property; provide the residential zoning, environmental and planning codes in the area.

It is imperative to make sure that you are allowed to build a structure or house on the land. There are building restrictions in many jurisdictions in Thailand. Our lawyer conducting the title investigation will provide you a full report and a copy of the title deed in English language.

Banking Assistance


When purchasing a condominium, a foreigner is advised to first open a Bank account in Thailand, once all the legalities have been performed. We can assist with such an account whether it is in Bangkok, or at any other province in which our offices are located. Generally you would only require your passport as identification; however Banks do vary in requirements of documentation, and also may refuse opening any such account to foreigners. We do advise to first check with each Bank beforehand.

Due Diligence


A Due Diligence consists of a formal report that provides a history of not only the seller but also the history in relation to the land you are purporting to purchase. This outlines certain specifics of the land including the land data which includes specifics of the land, verifying the category of the land deed and the previous and current owners of the land to date. In comparison, when you purchase shares of a company listed in stock market or a mutual fund you will generally research the profile and performance of the company or fund, hence making this an essential part in your property purchase.

Review of Contracts


A Due Diligence consists of a formal report that provides a history of not only the seller but also the history in relation to the land you are purporting to purchase. This outlines certain specifics of the land including the land data which includes specifics of the land, verifying the category of the land deed and the previous and current owners of the land to date. In comparison, when you purchase shares of a company listed in stock market or a mutual fund you will generally research the profile and performance of the company or fund, hence making this an essential part in your property purchase.

In Thailand, the usual standard contract of sale consists of mere basic rights and does not list all the exhaustive rights and obligations which allows for all possibilities and contingencies like it does in other countries. At Juslaws & Consult, our lawyers will review the contract and will make any amendments in necessary. These amendments would include rights if there is a delay in construction, late penalty payments and payment schedules. Once made, the amendments will be provided to the Seller for final rectifications.

Transfer of Property


The transfer or property takes place once the property is complete if brought off-plan, or in the event that the property has already been built, the transfer of property is to take place once the contract has been signed and the installment payments have been completed. The remaining balance of the purchase price is usually paid on the day of transfer at the land office.

We can prepare a Power of Attorney to affect the transfer at the land office on your behalf, or to assign a third party to do so. Otherwise, we can accompany you to the land office. Before attending the Land office, we will inform you of the documents needed and the approximate monies for certain taxes and administration fees to be paid.


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KUNNIKA LIMKUL

Executive Partner

kunnika@juslaws.com

+66 2254 4117