If you are considering buying property in Hua Hin Thailand then there is a brief checklist for buying a condo or a villa in Thailand. Speak to a lawyer in Hua Hin for more detailed information. Before you sign any property or real estate agreement in Thailand always have an attorney view the documents before signature. There are a number of reasons for this. Before any property is purchased or before you agree to buying any property it is always best to have a due diligence report done on the property. This will ensure that the property you are wanting to buy is able to be sold and that it has not been built on government land or has any other type of dispute.
The attorney also has to ensure that there are no loans or long term leasehold agreements registered against the property. This is important as should you buy a condo and there is a 30 year leasehold agreement in place you would still have to honor the leasehold agreement. Always ensure that you have property or buy property with no leasehold or loans registered against it. If there is you will need to speak to your attorney about these and their possible affects on the property.
This due diligence report also has to ensure that the size and location of the property is the same as on the title deed. He also has to ensure that the build has conformed to building standards and that the builder if it is being bought off-plan has the credentials and capital to complete the project.
These might sound trivial but there are many buildings standing in Bangkok and across Thailand where people had bought offplan and the building projects had never been completed. You don’t want to lose your investment due to this. No long ago there was a development in Samui where the buildings had been built on government land revered for a nature reserve. The owners had been arrested and they lost their property as they failed to do any due diligence on the property before they bought it. Always check with an attorney first.
If you are looking at buying property in Hua Hin then speak to our attorneys in Hua Hin about the property and let them perform the needed checks for you. Do it now!