No, of course not. You wouldnโt call the fire department if your house was on fire eitherโฆ right?
Buying pattaya real estate is not like ordering a cheeseburger at McDonaldโs. We always strongly recommend engaging a lawyer or legal advisor whenever it feels appropriate. In Thailand, lawyer fees are just a fraction of what youโre used to paying back home. So โ no excuses. Better safe than sorry.
Where the Lawyer Comes in Handy
In very simple wording: a solicitor or lawyer advises clients and represents them and their legal rights.
When buying property in Pattaya โ whether itโs a condo or a house for sale in Pattaya โ there are various elements to coordinate to ensure a smooth transaction. To name a few:
Title Deed Search
What type of title comes with the property? Is it freehold or restricted? Is it free of any debt or liability?
Ownership
Freehold, leasehold, or other options? Whatโs the most secure route for foreigners under Thailand property law?
Purchase Contract (Name or Share Transfer)
Is the agreement correct and wellโevidenced? Does it provide equal security for all parties involved?
Safe Money Transfers
Whoโs going to receive your money โ directly to the seller, via the agent, or better yet, to your lawyer in escrow? Will you convert your foreign currency at the best possible rate? Can you pay with cryptocurrency? Cash, bankerโs drafts, cashierโs cheques โ whatโs the difference? Did you obtain a FOREX form (Thor Tor Saam / TT3) from the bank to prove the remittance of foreign currency?
Other Essentials
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Free of Debt Letter from the seller (especially for condos).
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Transfer of Ownership at the Land Office โ and yes, you might want to get your queue number the day before.
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Transfer Tax, Stamp Duty, Business Tax โ how much, who pays, and in cash on the day.
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Company Registration if buying through a Thai company โ due diligence, shareholder certificates, nominee rules, proxies, preferential vs ordinary shares, accounting, and audits.
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Legal Assistance if the developer doesnโt deliver, quality issues arise, or a party breaches the agreement.
The Million Dollar Question
Why didnโt we go into all these topics in greater detail? Because weโre one of the top real estate agencies in Pattaya โ not a lawyerโs office.
If all the above is plain as day to you, and your Thai is fluent, you might be one of the happy few who can skip the lawyer. In that case, feel free to ignore this article and pick another from our news section.
For everyone else: hire one. Itโs a small price for peace of mind when buying Pattaya property.
Related Reading
Author: Mr. KC Cuijpers
For more information: Please contact Town & Country Property โ [email protected]
