Some critical things to know before you buy a property in Thailand

Making your investment in a property in Thailand can get hectic too. Even though there has been a great growth in the investment market for the various properties that are available out there but the property market can come as a total surprise to the new foreign investor. Well, here are a few things you must know before you go ahead and invest in a property in Thailand.

  • Can foreigners invest in the properties in Thailand?: well, yes barely anyone, whether a local or a foreigner can buy a property in Thailand. But there are a few barriers that are being overlooked, which are really essential if you want to make an investment. A foreigner is eligible to buy Phuket condo which he will own entirely in his name, whereas all the other investment purchases will be governed by another set of rules.
  • Ensure that you investigate the title thoroughly: the search of the title will help you trace the land to its very first possession. This investigation will help you in verifying the rights that you have to access the property and the planning codes which are applicable in the area. This also is like a great idea so that you can be sure that a structure can be built on the land.
  • Make sure you get an independent review of the Contracts of the Sales: the person who is selling the property is the one who will keep the Contract of Sales ready for you. It is good to have a local lawyer who will help you understand the legal matter better. Once the Contract of Sale is been approved by the local Thai lawyer than as a cross-check you will have to get it verified from a lawyer from your country.