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Updated: January 2008

Q: How do foreigners pay for properties purchased in Thailand?

A: Buyers should always transfer foreign currency into Thailand. This is a very easy process. The buyer's local bank will provide a receipt of the transfer and this should be faxed immediately to the recipient so the transfer can be traced and confirmed. Typically a reservation fee of 200,000 THB is paid immediately followed by the first payment of 35% within 30 days, but we are flexible on payment terms to suit our clients' situation.

Q: What is the cost of legal fees when buying and selling?

A: We have access to a selection of excellent and reasonably priced lawyers. Many clients do not see the need for extensive legal help or even any legal help at all, but we recommend you hire one to make sure the paperwork conforms to Thai law. Lawyer's fees vary according to the type of sale from only 5,000 THB to around 35,000 THB.

Q: How easy would it be to rent out my property?

A: Very easy. Any of our villas can be bought specifically to rent. Some have been specifically allocated as 'rental pool' properties. These will be managed directly by us and have an onsite rental office to look after everything. These villas must be furnished with our standard furniture packages to qualify for the programme. However, the amount of time they are rented and used by the owner is up to the owner to decide. Any of our villas can be rented through the rental office in any case. We will gladly supply more details on request.

Q: How do you buy property in Thailand?

A: A condo or apartment can be bought either in your own name or not depending on whether the title deed is freehold or leasehold. A house, land or commercial property can never be bought in your own name if you are not Thai except for very exceptional circumstances. The reason is that land cannot be put in a foreigner's name, so even though you can buy a house in your name it's not much good without the land. However, many foreigners do buy houses in Thailand in a variety of ways and the process runs very smoothly. One way is to lease the property from the Thai land owner. Or, you can set up a Thai company and hold 49% shares and 6 Thais will hold 51%. There are ways to ensure that you control the company. We can advise on this or other options very easily, as well as recommend good local lawyers.

Q: Can a foreigner get a mortgage in Thailand?

A: It is possible for foreigners to obtain up to 70% mortgages in Thailand but you must remember that you are not in your home country so the criteria are quite stringent. We can advise you in detail on request but in essence you need a steady income here or abroad, some good collateral and supporting paperwork and evidence.

Q: What taxes are charged when buying in Thailand?

A: There are some taxes associated with buying a villa or condo in Thailand. The amount varies according to the size of the land and the estimated value of the property as assessed by the land office. We can gladly provide estimates for any of our properties.