timescales for property purchase

[thanatorn-old]

I've done a basic search on this board, and others, and a bit of trawling on the net (and continuing to do so), but being the lazy sod I am, I am looking for answers to a couple of questons:

A realistic timescale to purchase of a condo from time of finding what I like to completion of legal process and receipt of keys. Is three weeks ok or I am on " cloud lala land?"

A rough guide, guestimate, (how long is a piece of string, I suppose), of legal and translation fees.

Further on completion I am thinking of letting the boy special rent it from me as it is still a good while before I move to Pattaya, but am concerned about possible legal issues down the line, where I could be presented with a situation where he has lived there so long, or had numerous leases that it is difficult to get him out.

I am almost incllined to do this on the quiet without his knowledge as my trust level is reasonably high but not that high, but there again having an intelligent well spoken Thai person to assist would be an advantage? (Also possible wrath when he does find out as he is bound to). Comments and answers gratefully received.

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Time to complete a purchase is up to you and the seller. A week would be plenty of time if you already have the money. Can be done say day you find a place. Main cost when purchasing a property are the various taxes/charges paid at the Land Office. It is up to you to agree with the seller in advance what proportion of these you pay. Given the state of the resale market at the moment, you should probably insist that all taxes and costs are paid by the seller. But be fair and do this when you make your offer for the Condo and make sure the agent passes this condition on (some agents 'forget' to do so, to make the offer sound more attractive).

... the various taxes/charges paid at the Land Office.

Don't forget the "tea money" you'll have to stump up to get the bureaucrats to do anything

... the various taxes/charges paid at the Land Office.

Don't forget the "tea money" you'll have to stump up to get the bureaucrats to do anything

Don't listen to hummingturd. He's rented a cheapo flophouse in the Silom area for years. He's never bought a condo in Thailand, nor set foot in a land office in his life.

Depending on how busy it is, you can complete the actual title transfer in half a day, easily -- if you have all your papers in order. I have done it four times now, and never once had to pay any "tea money".

... the various taxes/charges paid at the Land Office.

Don't forget the "tea money" you'll have to stump up to get the bureaucrats to do anything

Quite. That's why I didn't even attempt to offer a figure. It's also why a farang should never attempt to deal with the Land Office themself. Thais know how to negotiate the size of the officer's cut without ever suggesting that the gallant officer could be anything other than a thoroughly upright fellow.

Done it myself four times, no tea payments.

Be aware that farangs often hire local lawyers to help them "navigate" the Land Office, and those lawyers often tell them tea money is required when, in reality, they are simply pocketing it themselves.

Same thing with lawyers who offer their services arranging retirement visas, permanent residence, etc. They extort their clients in the name of fictitious tea money, when none is necessary.

I have also bought property in Thailand...Pattaya in particular.....and can assure you that Fattman in right on target. I would also say that anyone that doesn't hire their own attorney, not associated in any way with a real estate agent, to handle the the entire transaction is "dancing in the fire."

The attorney did all of the due diligence: checked the deeds and went to the property to check the boundary markers and make sure it was the right property: went to city hall to make sure there were no leans, loans or tax bills, and handled the actual transfer of money and recording of the new deed, plus what ever tea money was required came out of his pocket....total cost 10,000 baht. I think very cheap for the peace of mind and absence of grief and irritation that comes with dealing with bureaucrats anywhere in the world.


In my particular case I made the sales agreement and flew back to America to make the wire transfer of money to my attorney's account. The transaction was completed the next day at Pattaya City Hall and the documents locked in my attorney's safe until I returned to Thailand. That was four years ago; it all went perfectly.

As to letting the BF live there and rent; nothing to worry about. Let the attorney make what ever contract is necessary and if it ever comes to throwing him out....let your attorney do the dirty work. If you are planning to live in Thailand in the future it is a good idea to already have an attorney just in case something happens that requires legal help.

As Chao na and Fattman say, it is possible - even easy - to do the transaction at the Land Office oneself. You hand over the papers, the officer says 'that will be X,000 baht please', you pay. If you use a Thai lawyer, they negotiate the value on which the charges are based. The result is that you pay X,000 baht minus Y,000 baht. I am quite sure that no mention of tea money is made at any point during these negotiations, nor any questions asked about how the sum handed over is allocated.

There is a sting in this tale. Part of the tax payable (in theory, by the seller) is based on the difference between purchase price and selling price. The more the purchase price was deflated, the greater the potential tax on re-sale. Though if the selling price is deflated too ...

Back to my original advice. If you buy second hand property, stipulate that your offer is subject to the seller paying all the costs. But be aware than the Land Office records may show a much lower price than the one you actually paid - and you may end up paying tax on the difference when you come to sell.

Or you can follow Chao Na's advice. All Thais are honest and incorruptible. Just hand over whatever sums are asked, and all will be well.

Or you can follow Chao Na's advice. All Thais are honest and incorruptible. Just hand over whatever sums are asked, and all will be well.

Don't be an asshole. I never said nor implied that.

The charges made at the Land Department are completely transparent and non-negotiable, trust me. The tax is not calculated on the sales price less the purchase price. It is made on the assessed value at the time of selling, less the assessed value at the time the property was purchased. The assessed value is set by the Land Department based on the age and location of the property, and is not discretionary. Anyone can contact the Land Department to find out what the assessed value of floor space in a particular building is. It will always be far, far below the price you will actually be paying.

In any case, that tax is completely for the seller -- not the buyer -- to worry about.

As some of you may know, there is a big discount on transfer fees from now until sometime in the first quarter of 2009 if I'm not mistaken. The discount was handed down by the government, in an effort to stimulate the economy. So if you're intent on making a purchase, now would be a good time from that perspective.

But, sorry, I've gone on for too long. I don't think anyone here is interested in hearing anything from someone who has actually been through the process many times. If you like, you can carry on taking advice from Hummingturd, who has never step foot in a Land Office in his (very, very long) life.