Buying a condominium as a Thai buyer

Step 1

Taking your brief and working out what you need

We begin by asking for the information we need in order to assess what you are looking for, such as:

• Budget
• Preferred location
• Size and type of unit
• Buying to live in or to invest
• What you need from rental return
• The timeframe you are working to
• Cash purchase or bank loan
• Requirements for furniture, parking and facilities

We then analyse that and put forward the options that suit your purpose.

Step 2

Searching for and shortlisting condominiums

We help you search for and shortlist units that match what you are looking for, weighing the matters that decide it, such as:

• Location and transport links
• The sale price
• Market prices in the surrounding area
• The condition of the unit and of the project
• The common area fee
• The sinking fund contribution
• Rights to parking
• The standing of the seller or the developer
• How well it would suit living in or letting
• The payment terms and the transfer of ownership

Step 3

Arranging the viewing and attending it

We coordinate with the seller, the project or the seller's agent to arrange a viewing. If it is not convenient for you to view the unit yourself, we can:

• View the unit on your behalf
• Take photographs and video
• Walk you through the unit on a live video call
• Check the surrounding area
• Report the advantages, the drawbacks and the points to watch

Step 5

Legal due diligence on the unit

Before you pay any substantial sum, we carry out legal due diligence on the unit. The scope of that check may include:

• The condominium title deed
• The name of the current registered owner
• Any mortgage over the unit
• Any seizure or registered restraint
• Encumbrances or restrictions on transfer
• Arrears of common area fees
• The debt-free certificate
• The regulations of the condominium juristic person
• Rights to parking
• Rights over the common property
• Disputes or legal issues affecting the unit

If we find a risk, we tell you and set out how it might be dealt with, before you decide whether to buy.

Step 6

Reviewing and drawing up the booking agreement

Before you sign anything or pay a booking amount, we review the terms of the booking form or booking agreement so that they protect you. The important terms should deal with:

• The sale price
• The booking amount
• The deposit amount
• The date of the contract
• The date ownership is transferred
• The conditions on which the booking payment is refunded
• What happens if a legal problem is found
• The list of furniture and fittings
• The seller's obligation to repair the unit
• Liability if either side breaches the contract

Step 7

Reviewing and negotiating the sale and purchase agreement

We review, draft or amend the sale and purchase agreement, acting as your lawyer. The points we examine include:

• The particulars of the parties
• The particulars of the unit
• The sale price
• The payment schedule
• The date ownership is transferred
• Discharge of the existing mortgage
• How taxes and fees are divided between the parties
• The handover of the unit
• The list of furniture and fittings
• The inspection of the unit
• The repair of defects
• Liability on breach of contract
• The refund terms
• What happens if ownership cannot be transferred

We then negotiate the changes with the seller or the seller's agent, so that the contract protects your interests.

Step 9

Inspecting the unit before the transfer

Before the transfer date we coordinate an inspection of the unit and of the property inside it. That first inspection may cover:

• The condition of floors, walls and ceilings
• Doors and windows
• Locks and keys
• The electrical system
• Switches and sockets
• The water supply
• Sanitary ware
• Air conditioning
• Drainage
• Signs of leaks
• Cracks
• Furniture and fittings against the agreed list
• Appliances included in the sale
• Water and electricity meters
• Keys, building access cards and parking remotes

If we find defects, we draw up a list of them — a Defect List — and press the seller to put them right within the time agreed.

Step 10

Inspection by an engineer or specialist

If you want a closer examination, we can bring in a snagging inspector, an engineer or a specialist in a particular field to check further, for example:

• The electrical system
• The water supply
• Drainage
• The level and fall of the floor
• Damp
• Water ingress
• The quality of the installation work
• The condition of walls and ceilings
• Doors and windows
• The air-conditioning system
• Built-in joinery
• The quality of the construction and finishing work

Their report can be used in negotiating with the seller to repair or correct matters before the transfer date.

Step 11

Checking the repairs before the transfer

Once the seller reports that the defects have been dealt with, we coordinate a second inspection to confirm that:

• The defects have been put right in full
• The repair work matches what was agreed
• No further damage has been caused
• The furniture and fittings are all present
• The unit is in a condition fit to be handed over

If defects remain, you can consider postponing the transfer date, asking for further repairs, or negotiating for part of the price to be held back until the work is finished. Which of those is open to you depends on the terms of the contract and on what the other side accepts.

Step 15

Taking delivery of the unit and the documents

After ownership has been transferred, we check that you have received everything due to you, such as:

• The condominium title deed
• The sale contract issued by the Land Office
• The receipts for the fees and taxes
• The keys to the unit
• The building access card
• The parking remote
• The warranty documents
• The receipt for the common area fees
• The handover document for the unit

We can also help coordinate the change of name with the condominium juristic person, and the change of name for electricity, water and other related services.