Jump to content

Click the Links to Support our Sponsors >> Thai Friendly | Luxury Pattaya Nightly Condo Rentals | Le Pub Soi Diamond | Pattaya Investigations | Babydolls Agogo | Agoda Users PLEASE READ | Pattaya News | Pattaya Bars | Agoda Hotels | Donating to the Forum | Add your Text or Event here

Sign in to follow this  
Frenchguy99

Buy condo direct from owner, What paper needed? What can be wrong ?

Recommended Posts

Frenchguy99

Hi, i find a good condo to buy direct from owner without agency.

it will be my 1st condo in Thailand and i dont want to make mistake or be fooled.

 

The owner told me he have his lawyer who ca arrange everything but .... you know

its a Freehold, so what should i check ? wich paper i need to ask for, and does it worst it to take myself a lawyer my side and how much will it cost me ?

Share this post


Link to post
Share on other sites
overseas516

Never EVER use the seller lawyer as he is acting in his clients interests. Always get your own lawyer and ask him directly what is involved and what documents you need. http://magnacarta.co.th/

 

Share this post


Link to post
Share on other sites
Frenchguy99
1 hour ago, overseas516 said:

Never EVER use the seller lawyer as he is acting in his clients interests. Always get your own lawyer and ask him directly what is involved and what documents you need. http://magnacarta.co.th/

 

Thanks, any idea of prices for this lawyer service ?

Share this post


Link to post
Share on other sites
Buddy Edgewood

Are you sure he's the actual owner?  That's only one reason why you'll want to have your own lawyer.

Share this post


Link to post
Share on other sites
overseas516
39 minutes ago, Frenchguy99 said:

Thanks, any idea of prices for this lawyer service ?

No idea but i would contact at least 3 different lawyers and get a quote and go with the one you are confident in.

Share this post


Link to post
Share on other sites
Frenchguy99
27 minutes ago, Buddy Edgewood said:

Are you sure he's the actual owner?  That's only one reason why you'll want to have your own lawyer.

what do you mean ?

we are never sure of nothing, so i dont want to be scammed, like tranfer the money then got a simple piece of paper with cake receip writed in Thai lol

 

Share this post


Link to post
Share on other sites
Buddy Edgewood

Indeed, none of us wants to be scammed!  That's why you need your own lawyer to check to make sure the seller is actually selling something they rightfully own.  Another thing the lawyer should check is, can the condo be in foreigner name?  Buying real estate anywhere in the world can be tricky and there's a lot of scammers out there.

Share this post


Link to post
Share on other sites
KittenKong

I replied to this question in another place yesterday, and here is what I wrote:

You do not need a lawyer. In fact it is very rare for lawyers to be used for condo sales. If you do get a lawyer he wont do very much at all and so a few thousand Baht should cover it.

That said, it would be a good idea to have the assistance of a trustworthy person who can read Thai as nothing at the Land Office will be in English. Quite where you would find such a person, I dont know. I have met very few people in Thailand whom I would trust. Certainly no Thai lawyer is necessarily trustworthy, and the lawyer of the vendor is to be avoided at all costs, I think.

Questions you need to ask are:

Is the price sensible? Many asking prices here are way over the top.

Is the condo in Thai or Farang name? If Thai name, is the overall percentage of Farang owners in the building under 49%? If not you may not be able to transfer the unit at all. Ask the Juristic office of the building for confirmation of the current ratio.

Does the person who is selling the unit actually own it? His name should be on the chanote (title deed). Get a person who can read Thai to check the name on the deed against the name on his ID. The building office may be able to help with this, but be wary of trusting anyone who is any way associated with the sale. At the same time they can check if there are any liens on the unit, as these are written on the back of the chanote.

Is the building in good order? Is it well-managed? Are the finances sound? Does the unit you are interested in have any outstanding debts? The building office may help with these questions, though they are unlikely to tell you if they have been stealing all the building's money.

How are the transfer taxes/fees to be split? The taxes are, in theory, entirely the responsibility of the vendor. The fees are normally split, but vendors often attempt to split the taxes also if they think they can get away with it. The whole thing is 100% negotiable between the two parties.

Is there anything even slightly odd about the current ownership, the title deed or the current owner? If so, just walk away. There are more condos for sale in Thailand than you can shake a stick at, and finding another similar one is unlikely to be difficult.

Pay nothing up front and pay the entire cost of the unit by cashiers cheque at the Land Office when the sale actually takes place. Only pay cash for the taxes and fees (the Land Office only takes cash), and get a proper receipt for everything.

Never assume that anyone here is on your side. They are not.

Share this post


Link to post
Share on other sites
KittenKong
10 hours ago, Frenchguy99 said:

what do you mean ?

we are never sure of nothing, so i dont want to be scammed, like tranfer the money then got a simple piece of paper with cake receip writed in Thai lol

You dont seem to understand how condo transfers work here. Everything takes place at the Land Office, and the Land Office verifies the identity of both parties and the ownership of the condo. It also checks for any liens on the condo. That said, it doesnt hurt to check both in advance.

Only if the Land Office is satisfied of the above will they perform the change of ownership, and payment should only take place at that point. Do this only by cashiers cheque in the name of the vendor. Bank transfers are very unwise.

Share this post


Link to post
Share on other sites
Buddy Edgewood

All great info @KittenKong:Thanks3:

The common theme in your reply is that he needs someone he trusts, who reads Thai.  What if he doesn't know someone who reads Thai, and trusts them?  Perhaps that's when he should seek the recommendation for a good lawyer or a real estate agent?

Share this post


Link to post
Share on other sites
KittenKong
2 hours ago, Buddy Edgewood said:

The common theme in your reply is that he needs someone he trusts, who reads Thai.  What if he doesn't know someone who reads Thai, and trusts them?  Perhaps that's when he should seek the recommendation for a good lawyer or a real estate agent?

Yes, if nothing better can be found.

Share this post


Link to post
Share on other sites
Frenchguy99
6 hours ago, KittenKong said:

You dont seem to understand how condo transfers work here. Everything takes place at the Land Office, and the Land Office verifies the identity of both parties and the ownership of the condo. It also checks for any liens on the condo. That said, it doesnt hurt to check both in advance.

Only if the Land Office is satisfied of the above will they perform the change of ownership, and payment should only take place at that point. Do this only by cashiers cheque in the name of the vendor. Bank transfers are very unwise.

oh i see, you mean at the land office they will check if the owner is the real owner, if its really a freehold , but what about loans and depth.

 

Whats can go wrong ? specialy if i dont pay nothing upfront.

Share this post


Link to post
Share on other sites
KittenKong
2 hours ago, Frenchguy99 said:

Whats can go wrong ? specialy if i dont pay nothing upfront.

If you dont pay anything up front, probably not a lot. But you could be sold a unit that isnt the one you thought you were buying. And someone might try and get something included in the transaction that isnt to your advantage.

Share this post


Link to post
Share on other sites
striderman
On 08/11/2018 at 14:30, overseas516 said:

Never EVER use the seller lawyer as he is acting in his clients interests. Always get your own lawyer and ask him directly what is involved and what documents you need. http://magnacarta.co.th/

 

that is the firm i used 9 years ago and it all went smoothly

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×

Important Information

By using this site, you agree to our Terms of Use.