Remote purchase of a real estate in Thailand

Remote purchase of a real estate in Thailand

Phuket, the most popular resort in Southeast Asia, attracts millions of tourists every year. And in 2020 - 21, Phuket has become not just a tourist mecca, but also an ideal place to live, the island has shown how safe and comfortable living here is. Therefore, despite the drop in tourist flow, the demand for real estate not only did not fall but became much higher.

And the logical result of this demand was the increase in distance transactions. In a situation of quarantine, closed borders, and when you decide to buy real estate in Phuket, but there is no opportunity to come, buying online becomes relevant.

Online transactions have always been practiced in Phuket but were not as in demand as they are now. In this article, we will explain why buying real estate online is safe and secure.

We've outlined three main steps to buying online.

Step 1: Define goals

This is one of the most important steps in buying a property. Many further parameters will depend on the goal.

In order to choose a suitable object that will meet all your requirements, you need to determine the purpose of the purchase:

  • For investment or passive income.
  • For personal use only.
  • Mix: for investment and own living.

The area is chosen, the distance from the sea, the cost of annual maintenance, the form of ownership, and of course the price will depend on the chosen goal.

After you have decided on the purpose, we select the type of property: a villa or an apartment.

For the convenience of buyers, each developer now organizes a “3D walk” through the condominium or villas. Also, your agent will always make a video for you of your chosen object and provide all the necessary information.

Step 2: Deposit and reservation agreement

The next step is to directly book the property and make a deposit.

At this stage, a reservation agreement is drawn up, which only requires a copy of your passport and an invoice for the deposit, which is sent to you by the DHL delivery service.

The deposit varies from 50,000 to 300,000 Baht. Transfer of money from abroad is carried out directly to the account of the seller - developer. Payment in the bank is carried out on the basis of an agreement with full details.

The exception is transactions carried out with secondary real estate, in this case, all funds are transferred to the account of a lawyer.

* the deposit is non-refundable.

Step 3: Purchase and Sale Agreement

After signing the reservation agreement and paying the deposit, the lawyers start drawing up the purchase and sale agreement.

Within the framework of the agreement, a payment schedule is discussed: full payment or installments. The first payment is 30% as standard and is paid within 30 days. You will also receive the contract from the delivery service.

Thus, an online transaction takes place, three simple steps, and you become the owner of real estate in Phuket. In fact, we see that for the purchase you only need a passport, a reliable agent on the island, and within a month you become the owner of your home.

Important!

When buying secondary real estate, all these tasks are undertaken by a lawyer: checking documents, drafting contracts, registration of ownership.

In the current situation, many developers offer special discounts when buying online, such as the Sunshine Beach project.

PhuketBuyHouse provides a full range of services for buying real estate online, if you have any questions about remote purchase, please contact us at the link.

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