If you are thinking of buying property in Thailand then you would have to sign an agreement. Speak to one of our attorneys in Hua Hin first before signing the agreement. These are the basics. Before you sign an agreement in Thailand it is always best to have a property attorney view the documents first. There needs to be certain clauses in the contract and these are the basic clauses to look for:
1. The time frame needs to be established. When does building start and completed;
2. The price needs to be established and how this is to be paid;
3. If your payments are late what are the penalties if any;
4. Are their penalties if the builder completes the project late;
5. Building materials to be used – who decides the quality;
6. There has to be a floor plan of the building and your property;
7. If there is a dispute who is the arbitrator.
These are the very basic questions that need to be asked. It is important that these are in the contract and that everyone understands what they mean. When buying property in Thailand due diligence needs to be done and the contract needs to ensure that you are not short changed. Speak to any of our property attorneys at our Hua Hin office for more details. Call us on our 24 hour UK or US tollfree numbers if you need to have that answer today.
Do it now!