Whether or not to hire a Thailand property lawyer to oversee the purchase of a property is a question we’re often asked. Overseas buyers are naturally wary of falling foul of scams and want to protect their finances. We’re here to help.
Let us begin by stating there is no legal requirement to use a lawyer in the proceedings of a property purchase in Thailand. Using a lawyer can, however, make the process smoother and ensure that you get exactly what you want and that your property purchase proceeds without any errors or disruption. The following paragraphs provide some useful information on the use of property lawyers and why you may consider using one.
Do You Need a Thailand Real Estate Lawyer?
The main reason why people use a lawyer during the property purchase process is because, in Thailand, this process is not regulated – a buyer can literally contact a real estate agent, make a deal, agree to terms and make the purchase without any legal assistance.
This in itself, however, is a catch 22 situation – as there is little to no regulation on the process of purchasing a property in Thailand, there is the fair share of scams that individuals can fall prey to. Properties can be falsely advertised, properties can be sold without the seller having ownership, and properties can even be sold with outstanding mortgage payments and debts. As a buyer, would you know how to check for these potential dangers? Most people would not, hence why a lawyer can be hugely beneficial when purchasing property in Thailand.
What Services Can a Thailand Real Estate Lawyer Provide?
As mentioned above, a lawyer can be invaluable when purchasing a property in Thailand. A real estate lawyer can provide the following services:
– Check the legal history of a property
– Check ownership, title deeds and property finance
– Check the property register and look for irregularities
– Create a legal structure and final contract for the purchase
– Create a reservation agreement & preliminary contract
– Ensure your deposit is secured
A Thailand property lawyer can essentially ensure that you get exactly what you are entitled to and that you do not fall prey to any mishaps during the purchasing process. If you have only a basic understanding of the property purchasing process and the Thailand property market, it may be advisable to hire a lawyer.
Why do Some People Choose NOT to use a Thailand Property Lawyer?
It is not a requirement to use a lawyer or solicitor when purchasing a property in Thailand. If you have a basic understanding of the processes involved in the acquisition of a property, you may wish to undertake the procedure without legal assistance. Furthermore, there is obviously an associated cost with hiring a lawyer – many people simply do not want to pay the additional expense and would prefer to remain self-sufficient.
If you decide to do this, you must be vigilant, perform extensive research and be 100% sure of any agreement or contract you are signing. Be sure to investigate your property carefully and have no doubt about who owns it, or exactly what you are purchasing.
We are happy to provide personal recommendations for Thailand property lawyers and assist in the entire pre and after-sales process of buying real estate.
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