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THIS WEBSITE IS FOR SALE INCLUDING LISTINGS PLEASE ASK US FOR MORE DETAILS. GET A NAME THAT STANDS OUT AS OWNER HAS NOW RETIRED. YOU CAN WORK WITH EXPERIENCED SALES TEAM
US TODAY FOR DETAILS
It is a good time to buy property
in Thailand but please be aware you cannot buy a house and land in your
name unless you spend 40m baht.You need to take a 30 year lease out for
all foreign ownership with a Thai. Banks are lending & property prices are now dropping
due to the insecurity of the present economic situation. The
exchange rate is roughly around Baht 36 = US$1.
AREAS: 1 rai = 4 ngarn = 400 wah2 = 1600 m2; 1 talang wah = wah2
= 4 m2; 1 acre = 2.53 rai & 1 ha = 6.25 rai.
Easy quick check service. View Chiangmai by car. Our Thai female staff can take you on a guided tour of Chiangmai's best Moo Baans, areas you may like to live in, learn good and bads aspects, show you schools & places where you would like to stay that may suit you. All English speaking guides. Starting at 1/2 day tours we will pick you up at the airport or your Hotel: Cost 750 baht 1/2 day & 1000 baht for a full day. We also arrange any sightseeing for you, business tours and pickup and deliver by car at your convenience. email@example.com
To date foreigners may
- a unit in a registered Condominium
building (as distinct from its land)
registered leasehold of up to 30 years for all types of titled land
- a company can purchase land and buildings but will be inspected and
all Thai shareholders veted.
- more than 49% of a condominium unless in Company form.
- foreigners can own land being 49% in a company but the company must operate a business & shareholders interviewed so not that easy anymore
- if you invest 40m baht you can buy 1 Rai of land in Thailand outright.
USING OUR SERVICES:
ADVERTISE YOUR HOUSE OR PROPERTY ON OUR WEBSITE. NO BROKER FEES
NO COMMISSIONS TO PAY [ CHECK THIS OUT ]
WHATEVER YOU BUY OR
BUILD IT PAYS TO ASK THE EXPERTS & GO SLOWLY
provide an outhouse consultation at your Hotel if you require assistance
with any Business ideas, housing or legal advice with our foreign
Highly recommended if coming to live in Thailand &
We receive our commissions off the seller
or landlord and no added charges are imposed on you the buyer or renter.
What we make sure is you get a professional service with no hidden costs, plus
we help you with your lease agreements and oversee everything you need. You may have a Thai friend who says they can
get you a better deal. Unbeknown to you they may be getting a
commission or even 2 plus a scheme --can
you read Thai??. Using our services we guarantee that the lease and selling documents are in order as we have our own
Barrister at Law. Please do not ask us for mortgages as we cannot help unless
you are married to a Thai or own a Thai Company.
ARRANGE YOUR WORK PERMITS, PARTNERSHIPS, CONTRACTS, COMPANIES
& VISAS THROUGH OUR LAW SERVICE; Title searches, House
inspection reports so be safe. We are the oldest established Real Estate
in Chiangmai. We also have our own lawyers. If buying off agents please
safe and check www.chiangmailaw.com
NOW YOU CAN EVEN POST YOUR
OWN HOUSES ON THE NEW THAILAND CLASSIFIED / AUCTION WEBSITE to buy
or sell. Open to all businesses and private sales & buying advertise
here. Check out the forum and law service. The website is in Thai/Eng
language and its totally FREE.
The hottest Thai Classifieds
BEST OPTION FOR BUYING PROPERTY IS:
do not ring us from overseas wanting loads of info about a house. What
we list is what is available. It is pointless sending you info about a
house as you must view the house and the area where it is. In Thailand there is NO
zoning so a nice house could be beside a factory or
canal that you don't like. You need to supply us with info like how
close to schools you want to be, to Tesco, the airport, dept stores, where you
want to live, near town etc so the more info you can send to us the
easier is our job. We DO NOT show you multiple listings as again we are
not a tourism service but if you know what you want and budget then we
can assist you.
Thailand has so many different types of
properties for sale that whatever your dream home is, you can realize it
here if you do the paperwork right. Prices are a lot cheaper than
Western houses but some aspects need close scrutiny especially wiring,
water & most importantly the deed title. Now that you want to buy a
house what should you look for?
The first thing you need to do is obtain the services of a reputable
real estate agent or lawyer on your behalf. The Thailand Realty Industry
is not regulated so watch out for agents forcing you to sign contracts,
& check the title
deed to make sure the property is what it says. Do yourself a big
favour and obtain a House Inspection report which in effect pulls the holes
out of the property! Some buyers have bought
the house only to find the land is on a different title & visa versa
or the cracks have been disguised. Once you buy then its your problem. Many Estates will try to sell a house in a developing block which
has but one title with say 10-20 houses on it. They probably have 2
mortgages and want to unload the houses before they pay off the loan
& secure the titles for their owners. Or will they???--- we had
a case & saved the foreign buyer 2.8m baht that he would have
lost if he did not use our service. The same goes with the boundaries of the property which need to
be the same as the title deed. In Thailand there's no survey pegs as
such but they do use concrete pegs & it is an important point. Sometimes vendors deliberately
understate property area or move so called pegs. If the building is under construction or
the land is having a subdivision look carefully at the provisions for
issuing a title, and easement rights for say roadways. if you are a foreigner you can
lease for 30 years or form a company to hold the house. Remember also
do not start a company for the sake of securing your house. If you do
not carry out business and do not have employees ( and I mean NO
nominees that your law firm has provided) you will find yourself in hot
water. As at 2006 march Immigration and Company Regsitration are not
checking all foreign companies for employees and they will be
interviewed as well as what business you are doing????
IT ALL MEANS:
Sor Kor 1 This
document means that land occupants are occupying or making use of
certain land plots, whose ownership has not been claimed by any entity.
The document does not indicate legal possession of the informer so one
cannot transfer the ownership of the property to any one else. The Sor
Kor 1 is rare now as the government's land ownership legislation has
covered most area of the country.
Nor Sor 2 states the government's permission for person or legal entity
to make use of land temporarily. Need to utilize at least three-quarters of
the land plot within three years after the document issuance. This right is non
transferable. At the finish, land occupants can seek the right to demand
higher privileged title deed.
Nor Sor 3 is a governmental letter certifying a utilization of certain
land plot by certain people and that the plot of land has been surveyed and
its official map created.
Nor Sor 3 A is similar to the Nor Sor 3 certification. The only
difference is the map survey of the land plot based on an aerial-viewed
photograph of the land.
Ownership Title Deed or chanote is the ultimate certification of
land ownership. Holders of the title deed have full rights to transfer
or sell the properties and to bar other parties from violating their
rights over the land protected by the ownership title deed law.
Recently in 2007 we have been asked to
help foreigners who have paid too much to have their house built. Please
note the following----there are 3 types of builders in Thailand:
1/. A builder 2/. A broker 3/. a
worker/builder. Those who have been caught out are using (2) which could
be a friend who procures a builder for the foreigner then has a separate
contract with the builder for his cut which is 1/2 of the asking
price. Thus you are giving money away & in fact are being ripped off
as inevitably the actual builder will never be able to meet his
deadlines. Plans & fees etc should not be more than 50,000 baht yet we
have seen charges of 400,000 baht. The fees for 1 sq metre is 1/2 a
satang which is not even a baht. If you need a good builder in Chiangmai
and architect refer to your architect for the prices. You also need to have a builder who can complete
an average house in 3-4 months & check his equipment and formwork
supplies, how many workers he/she has & work he/she has carried out.
Talk to the referrals & your architect to see if they keep to their word.
Thai holidays workers will stop work on buddhist holidays and funerals etc. Make sure the contract is overseen by a
lawyer or ask us as we can give you a quote with times etc if you want
us to do. Tel (00-66)019527812. We have seen single storey houses charged
at 6.8m baht when the price should have been 1/2 this. Just remember
having a Thai friend doesn't necessarily mean they are a builder---they
are only getting a commission --when it comes to progress payments and
they ask in advance you could find yourself in a bad situation. Itemize
the materials and also how many men they will have on the job and also
if building multi-stories, their deadlines and time limits.
Prices per sq metre to build are approx:
7-8,000 baht. But, remember this will vary according to the extras and
items like marble and appliances etc.
OFFERS FROM DEVELOPERS
All developers in Thailand can
and will offer you discounts and extras just to get your business. If
youre not happy with some detail ask to change or add on to. Compare what
they might offer you with what you would like. Look for Special
home loan packages, Extra loan rate -- nowadays, local banks offer home
buyers rates that are even below their minimum lending rates (MLR),
Discount on land price, Gift voucher, extra room etc & ground
maintenance. Have everything in writing. If the phone doesn't work and
they say it will be installed next week or month don't believe a word same
with the water, gas lines if any etc. Do not pay a booking fee as then you
are locked in. Never put deposit down until your lawyer has searched the
ESCROW SYSTEM When making a down payment on unfinished project, protect your
money from fraud by the Escrow account system which will ensure
your money will not be paid, unless the developer completes construction
of your new home and meets the agreed requirement on specification. If
you decide to build use a [ lawyer
FORMING A THAI COMPANY Some people will say this is the best
idea for a foreigner to hold a house in ones name. However with a Thai
company yes you can hold a property within the structure of the company.
However be warned that if your books show nil profit after 3 years then
you may be asked especially by immigration & the Commercial Reg via
the tax dept why?? This may affect your visa and the status of your
company after that period so be warned if you are told its easy to do.
It is, however its also easy for the Commercial Registration Dept to
fine you if you are not in profit mode or even take the property from
you??? Wait and see.
USUFRUCT OR SUPERFICIES THE BEST
Usufruct Interest (Sidhi-kep-kin) - gives you temporary ownership rights to structures on or arising from the
land. In practice, a usufruct is limited to a 30 year maximum period;
like leases, the agreement can be successively renewed. In contrast to a
lease, a usufructury interest can be sold or transferred, although it
expires upon the death of the holder of the usufruct and therefore
cannot be inherited. This is better than a lease which by law can only
be for a period of 30 years.
A deposit of 10- 30% is usually required to
secure a property and total payments should be made within 30-60 days
(see your lawyer first) but normally once the transfer has gone through. If signing a purchase
agreement then up to 30% down & 70% following transfer. Normally the
seller will pay the changeover tax which starts at 2.5%. However if the
seller has owned the house longer than this [period it is discounted.
Some Land Offices will charge up to 8% depending on the area and office.
An agreement can be made between buyer and seller than each pay 50%. You can obtain longer periods but you will probably be required to
pay a higher deposit. Deposits are normally non refundable, except by
default of the vendor, so bear in mind that once the deposit is placed
you are committed.
This situation also prevails for the vendor. He must refund your deposit
and pay a penalty of an equal amount if he defaults on the contract.
Deposit in escrow is still rare in Thailand, but it is becoming an
increasingly recognized way of proceeding. It generally trades off
greater security for the buyer's deposit versus a weakened claim for
damages in the event of vendor default.
Beyond the price, payment and closing schedules, it's important that a
contract includes clauses to cover who will pay the legal fees, transfer
fees and taxes (there is often a business tax and always an income tax
assessment made at time of sale) as well as an understanding of the
value at which the sale will be declared - this is typically (for tax
reasons) at or close to the government minimum assessed value.
A foreigner buying a condo must transfer
funds from a bank account out of Thailand in foreign currency and verify
the transfer on paper. The transfer of funds must be in the same
name as the name that will appear on the final purchase contract ie. the
buyer. Funds must be transferred into a Foreign Currency Account in
Thailand opened in the Buyer's name. Use Bangkok Bank, Thai Farmers Bank
and Siam Commercial Bank and make sure you tell them that the purpose of
his or her opening a Foreign Currency Account is to purchase a condo in
Thailand. This law is somewhat a catch 22 situation as the Foreign Banks
usually will not write such a letter but don't worry. You can remit as
much as you like to Thailand via your bank. Transfers out of this Foreign Currency Account in Thailand
into a Thai Baht Account or some form of Thai Baht draft or check to the
Seller must be made in amounts US$5000 or more in order to qualify for a
"Tor Tor 3" Certificate issued by the Buyer's bank to verify
that the originating funding came from outside Thailand in a currency
other than Thai Baht. On the "Tor Tor 3" Certificate, it
should state explicitly that the Thai Baht funds are used "to
purchase a condominium" in Thailand. Taxes are payable by the buyer
or seller of a condo in Thailand such as the Transfer Fee/Stamp Duty Tax
of 0.5% usually payable by the seller upon the date of the actual sale
or a Special Business Tax of 3.3% which is usually payable by the seller
if the property has been owned for less than 5 years. By the way there
is no limit on how much you can remit into a Thai account from overseas
and no tax. Tax levied at 15% is on interest earnings only.
REMITTING FUNDS: If sending over funds to
purchase a house you must tell the National Bank what you are using this
money for with sums exceeding 2,000,000 baht quantities. If remitting
funds from abroad to purchase property which is the law over sums of 2m
baht it may save you when it comes to a divorce situation of whose funds
were used to purchase the property. If you wish to
know more than ask us.
LEASE COSTS & WHAT YOU WILL PAY:
The cost of the lease is approx 1% of the purchase price separate from the house purchase price and this is a one off payment so with filing fee for a 3m baht home look at approx 33,000 baht. Lawyers transfers costs etc and to register at the land office can be anywhere from 25-50,000 baht depending on the complexity of the sale and work to be done plus where the location is if outside Chiangmai etc. BUT REMEMBER BANGKOK CHARGES ARE DEARER THAN SAY CHIANGMAI
Are normally 3% -5% but some charge 10%.
Watch out also as some realties charge both the seller and the buyer
& even hike the price up and have deals with the owners. We do not
BUYING NEW CONDOS NOT BUILT
Some Chiangmai condo buildings are not desirable and have a bad track record of trying to get all the money from a foreigner with sub standard finishing and not abiding by the contract that the foreigner signed. If this Company does not complete the project it is a court case to try to get your money back and can take a long time. Please note some buildings we know we will not be a party of selling them. If you are not sure get a good lawyer who can check the company out or ask us. If you pay based on the glossy sales pitch or even give a deposit this is normally non refundable. We have had problems selling Twin Peaks Condos but have assisted the buyers as best we could.
A foreigner can ONLY own a condo in
his / her name OUTRIGHT. You cannot own a house and land in your name unless you
invest 40m baht = 1 Rai of land. Bank's do not lend to foreigners;
only Thais or Companies and you must lease, or have a Thai Company to own
a house in your name. Ask us if you wish to borrow (must have
Just a note about buying Condos. ---Find out what the monthly maintenance
costs are from the managers. Ask for this in writing. Avoid unfinished
projects as they may run out of money or be over mortgaged. If very few condos have been
sold in a building with good amenities like landscaped grounds, security
Guards and a receptionist and office have the title searched but most of
all someone has to pay for all this, plus
the electricity for lighting and lifts. The total cost (often inflated) has
to be divided up among the condo owners, which can be a lot if only a few
units have been sold. Ask for an exact statement of maintenance costs and
how they are paid. If the project has different size condos in the same building, large units will pay more towards maintenance costs than small
units. If you are a legal resident you can obtain a mortgage but you
need to check with your bank and credit. The best idea though is pay
cash as you can negotiate but you must remit from abroad. In Bangkok look at around 25,000 -100,000
baht per sq m. A foreigner can only buy max 40% of a condo unit so if
that 40% has been taken up and you are the 42% person you may find you
are buying a lemon so to speak. If the developer owns a majority of
units you may not like his manager but if the owners have majority votes
than they can remove him.
The Condominium Act has been
amended. Now 49% of units in all condominiums and 100% of units in
condominiums in a total development area under 5 rai located in Bangkok,
all municipal districts and such other areas as shall hereafter be
announced by the Minister of the Interior (which is expected to include
rural Phuket) can be foreign owned. Funds used to buy a condominium
& remitted from abroad are recorded by a Thai Bank on a Tor Tor Sam.
Purchases of condominiums by foreigners come under the Condominium Act
B.E. 2535 (1992). The owner of each condominium is issued with a
certificate of unit ownership. The certificate also has a statement with
percentage rights over the common areas of the building each owner has.
[ Check more Condo tips ]
Are normally levied on the seller rated
at between 3 & up to 6% of the asking price. Some agents are known to
charge a commission from both the buyer and seller while we are told 10%
is being levied by some. Due to the
unregulated realty industry you must use discretion when buying off any
agent or person. Ask how long they have been in business & look at
their company papers for proof. If they say the price of a house does not include their
commission, chances are this company is getting a cut both ends. Our
company levies a commission solely on the "seller" & makes
sure the person buying is getting the best deal for their money. We
normally only sell houses that have a chanote (clear title).
If you want to make sure your house is
safe and has what it should have & hasn't had recent false
renovations, hidden maintenance, then we also conduct a professional onsite inspection house
appraisal of the home you want to buy or sell. This inspection is over and
above your title search but compliments the title search as we work in with
our own lawyer. This 5-8 page onsite
inspection report covers everything from electricity, inside and outside structures,
water supply, plumbing, and general condition of your house & land,
elevation etc in a check list report. Added to this we give you the
buyer, a full written maintenance report plus our suggestions
and recommendations all in
English. We even oversee the recommendations on your behalf. Cost for this Inspection ranges from
5000 baht for new houses under 2 years old to 6-8000 baht for a
standard 3-6 bedroom older house, condos 5000 baht as we look at the
entire building ( This does not including away travelllng
expenses). eg. cost to inspect in Bangkok is 12,000 baht to start and
extra if we have to travel.----takes 3-4 days
----report printout. We do not conduct land area searches as survey pegs are not
shown. For this you need a surveyor which we can obtain for you. Other buildings like Commercial
properties we can quote you. PLAY IT SAFE-- WHY HAVE A HOUSE THAT WILL
NOT LAST!!!!!! As of August 2005 we have managed to assist foreign clients
before they buy with the knowledge that the seller will initiate our
recommendations & saved money for our clients. It is worth it
to have these houses inspection reports.
recommend you obtain a Title search and House Inspection report before
you purchase ANY property in Thailand. Cost Title search = 7000 baht
Title search as well as House Inspection fee starting at 3000 baht.
& AIR CONDITION INSTALLATIONS:
When buying an existing
home or new house you may want to have a new western style kitchen
installed or maybe air condition units. If we carry out a Housing
Inspection then we also in our report have a free quotation for air
condition units and kitchen joinery for you with FREE installation or
arrange on your behalf. We can help you with the top Kitchen
to Kitchens ]
WHY USE OUR SERVICES:
||We work for you (Both Thai &
foreign consultants )|
||No hidden charges-everything is up
||Guaranteed conveyancy help &
Company, work permit & land setup for foreigners|
||We will sell your Commercial property,
houses, businesses, bars and Guest Houses|
||Because you have the benefit of
foreign help with our Thai lawyers and expat consultants|
||We offer: Full
house onsite appraisals. Cost is 5000 baht for a house under 2 years
old & 6000 baht for older houses ( plus travel if out of town ). This 5-6 page report
is a must if you want to know what your house is really like which
includes pics of repair work needed and we even do a air con survey
||We now conduct consultation at your Hotel if you require assistance with
any Business ideas or housing advice with our foreign consultant. |
Thailand differs from
every other country and when you decide to buy a service or hospitality
business here the first and most foremost thing you do is ascertain who
your management structure will be. If you think you can buy a business
for under 1m baht and make it forget it. With any business you now need
a company for safety and if you want to work with work permit and have
the premises under the Company name. The days have gone where you can
run a business and make a profit when you only have 500,000 baht. The location is second to
management and if
you do not have your management sorted out first then you will find it hard to make
headway in Thailand eg. honesty. Running a company with 4 employees,
paying taxes etc you need 500,000 baht for the first year in fees alone
and remember whatever you go into the off or low season is from April= November
so make sure you bring plenty of money. [ SEE MORE ON
BUYING A BUSINESS ]
FORWARDER FOR YOUR HOUSEHOLD GOODS & ANIMALS:
Thailand can offer many
foreigners moving household belongings to and from Thailand. If you need
to ask then check out [ FREIGHT
FORWARD COMPANIES ]. If you have animals and pets like a dog
please ask a freight forwarder and Vet in your country. [ Click
to see more info ] on bringing your pets to Thailand.
Do what you would do back
home & take our advice. USE A LAWYER but be careful there are good
and bad lawyers here????? When using the services
of a lawyer please be considerate and talk slowly. Although many lawyers
speak English it is not there first language and be slow and patient
when stating your case especially if you have just been rolled by your
girlfriend???. There understanding of what you are trying to say
maybe is not what they are thinking so when talking use local layman
speech not heavy doctrine. Do not stand and demand like one will do in
the west. Do not look down at a lawyer who is sitting down while you are
standing. You are in Thailand not in the West. Do not shout and make
demands or bang your fist on the table because you gave all your money
to the "local bargirl" & now are crying!!!. Why? Some Thai
lawyers will simply turn there back and close you out. You may even lose
the money you gave. Simply speaking if you are rude and act like one
does in the west then forget using a lawyer here. Thailand people are
very patient and they do not like to be threatened or placed in
situations where they do not understand the falang. Remember if you have
a litigation case pending here in Thailand it can take many years to
process & lots of money and court sittings that just drag on and on
but this is Thailand and one must abide by their rules. If you lend
money to a foreigner or anyone in Thailand do by way of contract and
secure assets off the borrower. 9 time out 10 you will not get your
you have a property to rent, sell or lease in Thailand then WRITE TO US
as we can advertise for you in our hardcopy news in Chiangmai .
New property law
Bangkok (dpa) - Thailand's booming property sector has been thrown into
confusion by a new regulation issued this month that requires all partly
foreign-owned companies to prove the source of their funding before
purchasing land, industry sources said Tuesday.
The new Interior Ministry regulation that went into effect on May 25 2006
has already started to slow sales of housing estates in Thailand's popular
seaside resorts, such as Pattaya, Phuket, Hua Hin and Samui Island, which
have been specifically targeting well-to-do foreigners as vacation
getaways or retirement homes.
Thailand has strict laws prohibiting foreigners from directly purchasing
property themselves although loopholes in the law allow them to own land
and their houses through long leases or a "nominee company,"
providing the company is majority Thai-owned.
It is common practice for such "shell companies" to include Thai
nationals who have been paid to act as nominees to facilitate the deal and
who have invested nothing in the purchase. The new regulation, signed by
Suraart Thoingniramol, deputy permanent secretary of the Interior
Ministry, is designed to halt the use of such companies for property
purchases in the future.
"If it appears that an alien holds shares or is a director or it is
reasonable to believe that a Thai holds shares as a representative of an
alien, the officers shall investigate the income of Thais holding shares,
delving into the number of years [they have spent] in the current
profession and monthly salary," reads a translation of the law.
"The provision of necessary evidence is required."
The new regulation is actually an enforcement of Thailand's existing laws,
legal experts said. "It's not a radical change. It's a radical
implementation," Ronachai said.
The regulation has already started to stall home sales to foreigners,
"There's a lot of confusion," said Simon Landy, managing
director of the Primo Co, a property-development firm. "Some land
offices don't know what to do with it, and many have simply stopped
transferring land." Source Bangkok Post
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