Thailand Real Estate has been faced with many constant struggles in relation to its economy therefore having an impact on the global and local community. This is however, no reason to not invest in property in Thailand as it is still on the rise and can be seen as beneficial to investors as you can invest in distressed property at this crucial time. Property values are constantly increasing rises also at 10-15% per annum which makes Thailand an obvious place to invest.
Since you are investing in a country different from your own jurisdiction, it is essential for foreigners to consult a lawyer and be aware of certain precautions one must take in order to protect their interests in their property.
Lawa Law & Property focuses on any transaction concerning real estate. Our firm provides with all the necessary assistance those who wish to purchase, sell or lease a land, a condominium unit or a villa. We devise innovative and sophisticated approaches to achieve practical and cost-effective results for clients. As real estate transactions have grown increasingly complex, they commonly require guidance and legal advice on specific elements that are highly focused and particularly challenging. We provide counsel on all aspects of real estate industry business, striving to always put our clients in the best position to conduct business and take advantage of new opportunities. Our real estate lawyers have extensive experience in a wide-range of real estate transactions, which enables us to provide knowledgeable and high quality counsel to clients, through practical and creative solutions. We strive to accomplish our clients’ goals and to protect their business interests. Our lawyers are expert in drafting sale purchase contracts, lease contracts and maintenance contracts and assist foreign clients in reviewing the contracts they are about to enter into, ensuring that their rights are fully protected under the laws of Thailand.
Some of our services include:
- Conducting a title search to ensure correct legal title and encumbrances
- To further perform a Due Diligence on the property to outline the above, as well as any problems encountered relating to the property, previous possessions and other specific particulars.
- Contract Review to see if all legal rights are covered to protect your interests in case of default and to organize payment schedules as well as taxes involved in purchase.
- Ensure that the Foreign Exchange Transaction slips are issued correctly
- Ensuring whether the foreign quota has exceeded above 49%
- Whether the condominium juristic person is in order
The above outlines just some of the important factors that need to be considered prior to purchase of any sort of property in Thailand.