(1) Contact Our Caretaker, Tomkum, who will arrange to open the property for you. 095-298-7029
(2) Contact the Owner by Line ID ncluk, for any questions. Can also contact by Email to email@example.com [Thai or English]
(3) When you are ready to Buy, a contract of sale will be presented to you to sign. The Name of the Buyer must be the same as shown on a Thai ID card attached to the Contract. The Contract may be circulated by hand delivery, email, or via express delivery.
(4) When the Contract is signed, the Buyer must make a 10% deposit in cash by transfer to Sellers Bank Account. THE DEPOSIT IS NON-REFUNDABLE SO BE SURE YOU WANT THE PROPERTY.
Because the Seller resides in America, it will not be possible to simply meet at the Land Office to make full payment, as funds are needed by the Seller for travel expenses and other expenses related to the transfer.
(5) The Seller will use an attorney to handle this matter and will give further instructions. The Buyer may also use an attorney.
Special note to Foreigners Wishing to Purchase
Who Can Buy: With various exceptions, only Thai citizens can own property in an individual name. This means that a foreigner married to a Thai will have no problem placing the property in the wife’s (or Thai husband’s) name. Retired or otherwise single foreigners cannot purchase in their own individual name, and most purchase through a Thai company owned by them or via some other method. So, in summary, if you are a foreigner not married to a Thai, or have no Thai friend to take title for you, please consult a Thai law firm to review your options. The methods allowed by the Thai government vary from time to time and a Thai lawyer will be current on this. some of the possible options might be:
A. Purchase via a Corporation: Many foreigners use an attorney to set up a corporation and buy in the corporate name. If this is the case for you, the Sellers cannot deal seriously with you until your corporation is formed. Best to use a Bangkok or Phuket service for this as prices are better and they know what they are doing.
B. Take Possession via Longterm Lease: This is another common procedure in which an attorney can be very helpful. Essentially a 30 year lease is created, renewable for another 30 years, and recorded among the Land Records at the local Land Office. All kinds of protective clauses are added including the right to sell the property via automatic conversion to freehold. In this situation, the Buyer/tenant is given possession of the title documents.
C. Land Installment Contract with Nominal Lease: With this procedure, Buyer receives a Contract For Sale. And everything occurs except that the Land Office is not notified and the property remains titled in the Thai Seller. The Buyer is fully protected by a Paid in Full Lease ensuring full possession of the property to the Buyer. Additional protections can include a mortgage recorded on the property in favor of the Buyer, as well as a Power of Attorney from Seller to anyone of Buyer’s choosing, ensuring that if Buyer wants to sell in the future, the Buyer can control the entire process.
D. Usufructs have now become popular as a means to acquire the property: The right of usufruct transfers possession, use, and enjoyment of immovable property from the owner to the usufructuary. Usufruct can only be registered over properly titled immovable property and is established by agreement with the owner and registration at the local land office.The person who enters into a contractual agreement with the owner for this right is called the “usufructuary”. Section 1418 of the Civil and Commercial Code provides that a usufruct may be created for a period of time or for the life of the usufructuary. A usufruct will be registered in a similar manner to a lease of up to 30 years or until the lifetime of the usufructuary. Once registered, it will have effects as a servitude on the title. The owner of the land cannot sell or transfer the land until the servitude has been terminated.
In short, if you would like to live in Thailand and buy property, this can be done. The Thai Elite Easy Pass Visa, which is essentially a long term multi-entry visa, is also a great way to solve any visa problem as there is no age requirements, travel in and out of the country is unlimited, and there are many other conveniences.
Deed Form: The title to the property is in the form of Chanote, which is the highest and best level of Deed for real estate in Thailand, and passes all rights of use and ownership to the Buyer upon signing and registration at the Land Office.
Transfer Fees: Various types of fees relating to transfer are assessed at the Land Office, usually based upon the Land Office assessed valuation of the property. These fees include not only the Transfer Fee of 2%, but a Stamp Duty of 0.5%, all of which fees amount to 2.5% of sale price (which usually means 2.5% times the Land Office assessed valuation of the property which can be lower than actual sales cost). Although subject to negotiation, it is customary in Thailand for the parties to share the cost of all transfer fees equally, and in any event, that is what is required in this case.
Legal Owner: Acharaporn Udomsri holds title in her name as it appears on the Deed (Chanote). At the Land Office, the Seller is required to prove her identity to the officials, and the Buyer as well must prove identity before the transfer can be approved.