Precaution While Buying Properties In Thailand

Some precautionary measures need be taken while investing in Thai real property sector. These hold true for both the native investors and foreigners, though expatriates will have to overcome more hurdles to buy property in Thailand.

Gathering Local Knowledge
One need spend sufficient time in Thailand to form an idea about good value real estate in Thailand. Familiarizing oneself with the local people and with the expatriates and consulting expert realty agents and lawyers will develop the local real property knowledge in you. Then you can easily avail big investment opportunities in Thai realty market.

Survey of property
To learn the actual market value of a real property in Thailand, you will have to receive the service of a certified appraiser. If the chosen real estate is brand new, looking at other properties built by the same developer will satisfy your queries. Some companies offer land title checking service of real properties which should be taken. One can easily find the required contact information of surveyors in local yellow pages.

Handling lawyers
Special precaution should be taken while choosing a lawyer and later when utilizing her service. In Thailand, it’s much easier to set up a law practice than in UK and US. So you need select a lawyer who is recommended as an expert by someone you trust. While working with a Thai lawyer, always give instructions in written form so that if the need arises you can refer to the document. And don’t employ a Thai lawyer on hourly basis.

Dealing with agents
Real estate agents are available in Thailand to help you invest in Thai realty market. Select someone experienced who can work well with you and can deal on your behalf with other agents if required. Don’t forget to check your agent’s work permit and also verify which organization s/he is a member of.