Buying a property in Pattaya. Black list of estate agents

Can a foreigner own a condo is his own name in Pattaya?

At the moment a foreigner can own a Pattaya condo in his own name, providing the maximum 49% share of foreign ownership has not been reached.

How about buying a Property in a Thai Company Name! This is an option many people take when buying a house as it’s not possible to buy a house in foreign name (as in your name if you’re not a Thai National). The same can apply if you wish to buy a condo that is not available in a foreign name (reached the maximum share percentage).

So what happens is a Thai company is formed and the company owns the house, or condo, a good lawyer can complete this for you within 14 days for an average cost of 25000 baht, remember 1000s of houses and condos are owned by foreigners in this way, it’s not as complicated as people might think.

Can a foreigner obtain a mortgage on a Condo in Pattaya?

There are certain companies that offer a selected range of mortgages to foreigners wishing to buy a property in Thailand, a knowledgeable real estate broker should have more details.

One option for foreigners to consider is assisted finance from a developer, this can be up to 70% of the property cost and based over 1-10 years, many developers will offer interest free on 50% of the property value if repaid with 3-5 years, it’s worth discussing with your real estate agent to see what’s available.

Many new developments will allow you to finance over the build period, normally a 20-30% deposit is required and then monthly or quarterly payments during the build period. Some developers will defer the final payment of up to 70% until the project is ready to move in to, again talk to your real estate agent regarding what’s on offer.

The banks will lend money to purchase condos for sale Pattaya, however it is not an easy process and most will ask for you to have a work permit and proof of income to support your application. It may be easier if you have a Thai partner who can show sufficient income to support the loan.

What about the legal fees when buying and selling a condo?

There are many excellent and reasonably priced lawyers available in Pattaya. Many people however do not see the need for extensive legal help or even legal help at all, when buying condos for sale Pattaya. Should you wish for assistance when looking to purchase condos for sale in Pattaya, then you will find that prices will vary according to the type of sale, typically costs range from 5000 baht to 35000 baht.

Are there any council taxes or rates to pay?

Good news, there are no annual council taxes to pay in Thailand.

What would be the typical utilities charges for a condo?

You will find that the average water bill for a condo ranges from 250-500 baht per month. Electricity bills can vary so much, for a typical 3 bedroom condo you could expect it to be anywhere from 500 to 3000 baht per month, it really depends on how much air con you use as that’s the major consumer of electricity in any condo.

The process of buying property in Thailand:

1. Buying American Express checks

2. At the airport on departure at customs obyazatelno they declare. From Russia can be brought out road checks in any amount (but do not forget to declare in writing at the customs).

You fill out two copies of the declaration - one goes to the office, the second you have and pay attention - all print, signature and authorization to issue must stand in the second instance.

This is where you need, if the deal you did not take place and you carry a check back, you have again upon arrival in Russia fills out the declaration for the import checks and the annexed Declaration to which you have been released from Russia.

If you transfer money to bank transfer from the RF from the account, there - some problems with Russia's tax, so American Express - is the best option.

Also, the declaration you'll find in the case of sale of real estate in Thailand, to explain the origin of money for entry to Russia.

3. At the Bangkok airport on his arrival to receive a certificate that legally imported into the country's checks (this is the place where the issue need help to find, did not immediately understand what you want, but with perseverance all achievable). Your data is written in the book and issue a certificate specifying the amount. After passing through passport control go down the escalator on the 1 floor and looking for the customs department, not far to seek - ask or look for the signs.

4. Before buying property in Thailand must be obtained from the Land Office approval (as a foreigner) to purchase housing. And it takes 2 weeks.

5. Communicate with the owners or real estate agents - they are many.

If you want to buy an apartment without ants and insects, etc., then look for option without air conditioning.

6. Having picked up the option - all discussing and hoping that you speak the truth! We reserve poking a finger popredmetno that you leave out of furniture and appliances.

7. Going to the bank to open an account, you may need a letter from the immigration service.

8. Open an account in a local bank, where the same lozhite their checks on the account. Purpose of the account should be - on the purchase of real estate, and not on deposit. For what it is. You after the exchange of money and enroll them into account will help, which is also needed in case of export of money from Thailand.

9. Goes to the bank with the owner of a condo and the other (speaking and reading in Thai) or a lawyer - you take a bank check for a certain amount (such as 600000 or 1000000 baht - depending on the amount you pay a transfer. C 600000 baht will need to pay 40000 Baht - usually in half). Transfer - a tax on the amount of the transaction.

It is important to understand the mentality of the Thais - they can not skazatt not, and if you change your mind or want to sell the price above - they are long they trying to fool the head, carry the meeting, etc. And they can not do things quickly, many condos built into the bank - it is normal practice, but it takes time and money to remove a bank deposit. If you ask a large deposit - then most likely a condo built into the bank. It is better to have several options for buying time.

The amount of the deposit (prepaid purchase) to 10%, usually asking as much as possible. The contract for the deposit should be issued with a copy of the ID owner, where are the example of his signature, and if copies shanota (chanota, chinuta). Otherwise, give the man a deposit, those with no formal or those with no relevance to this apartment.

Very recommend to see the original chanota (certificate of ownership) - this is a great little yellow paper with the entire history of your property (who, whom and when sold, or any bank or laid remortgaged). Many condos are still not even a building permit. And they stand and real estate they sell, and manage to sell without chanota, but only to house books.

It is best to have, in the conduct of the transaction, Thai-English-speaking, licensed attorney.

10. In the Land Office you must to will sign the purchase agreement, to pay the remaining amount by check and you will be given a large paper (such as a certificate of ownership), which is the whole history of your home (and who, when and to whom sold). In addition you will be given another house book - a blue booklet. Last transfer (sale) must be in your name (in Thai). Take the time to check and see how do you spell your name in Thai.

11. All utilities better translated to non-cash basis - to contract with the power company and water and they are testimony to counter gun shoot you from the account of money.

  • Koh Chang and all the other islands - are national parks and so real estate transactions are illegal. All agreements, leasehold, etc. are temporary.


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