Property Due Diligence in Thailand

Before buying property in Thailand, you should carry out Property Due Diligence. This includes conducting a physical inspection, checking for Building Permits, and researching the Credentials of Property Developers. The main risks of investing in property in Thailand are varying. To avoid these, you should hire a property lawyer for due diligence services. In this way, you can resolve the common problems and avoid major ones. If you're unsure about the process, read this article.

Importance of Property Due Diligence

If you are planning to buy a property in Thailand, you should know that you need to do some due diligence before buying it. This is because you must verify whether the seller has a legal right to sell the property. For example, you should check if the land description in the title deed matches the information in the Land Office. You should also look into the ownership history of the property. Check if the property has been sold before.

After confirming the ownership of the property, you should check the zone in which the property is located. For example, if you are planning to sell the property in the future, it may be difficult if the property is located in a zone that is industrial. Also, if you are planning to sell the property, you need to find out whether it is zoned under a development that has building regulations.

Physical Inspection

The importance of Physical Inspection as part of property due diligence in Bangkok, Thailand is undeniable. Physical inspection helps you establish whether the boundaries of a property are true and well-defined, and if it is in a neighborhood where other properties are permitted. Such an inspection also confirms whether zoning regulations apply to the location. If you are thinking of investing in a condominium property, a physical inspection is vital before you sign a contract.

Besides a physical inspection, property due diligence in Thailand involves document review, a comprehensive search for legal issues, and a thorough investigation of the property. During this step, you should ask about the property's legal status and whether the owner of the property is reliable. In addition, you should inquire about the sewage system, telephone system, and other infrastructure of the area. These are all important aspects of property due diligence.

Inspection of Building Permits

If you're thinking about building a home in Thailand, it's important to first check your building permits. In Thailand, building is regulated by the Town and City Planning Act and the Building Control Act. Before you can start construction on your dream home, you must check your land to make sure it doesn't contain any servitudes or usufructs. Zoning is also an important consideration. Building in a zone without a building permit is illegal, and you'll likely face heavy fines and stop work orders if you're caught.

In Thailand, obtaining a building permit is easy. You can obtain the permit from your local Land Department Office. However, you'll also need to submit the relevant land development and infrastructure permits. And you'll also need to complete architectural plans before you can get the building permit. In some areas, a property attorney can inspect the land for you, saving you thousands of dollars in lost production. Inspection of building permits in Thailand is crucial for your business' safety and legality.

Property Developer Credential Research

It is essential to conduct property developer credential research in Thailand before you invest in real estate in this country. If you are considering purchasing a condominium in Thailand, it is important to do your homework before you invest. Make sure to check whether the seller is reputable and has a clean record. The Condominium Act of Thailand allows non-Thais to purchase 49% or more of a condominium. You should also verify the ownership title of the condominium.

Hiring a Property Lawyer in Thailand

Getting a property lawyer in Thailand for due diligence is a good idea if you plan to purchase a property in Thailand. There are some things to remember when you hire a property lawyer in Thailand. First, make sure that the person who owns the property is legitimate. It is important to do this because the law requires you to carry out your due diligence before signing any agreements. If you are buying property from a seller, you should make sure that they are the owner of the property. If you find out that the property seller is not the real owner, it's wise to hire a lawyer.

A lawyer specializes in property in Phuket. A good property lawyer knows the local law and can tailor a SPA to suit your needs. He or she can also take immediate action when there is an emergency or a problem. This will allow you to sleep easier at night. This lawyer will also work with a local bank and real estate agent. Depending on the location, a property lawyer in Phuket will be able to access all the relevant information in order to help you decide on a property in Phuket.

A full-service law firm in Thailand with its head office located in Bangkok. Our offices and representatives are strategically located throughout Thailand including Chiang Mai, Pattaya, Samui and Phuket.
Copyright @ 2022 Thai Property Attorney. All Rights Reserved.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram