With the seemingly long list of processes and legalities, buying a property in Phuket, or anywhere in Thailand for that matter, can appear a little overwhelming at first. However, with the right information from credible sources, the investment process can become a walk in the park.
To help ease the process of buying a property in Phuket, we have compiled a thorough checklist for you to tick off and refer back to whenever you want to ensure that you’re on track.
☑ Shortlist the neighborhoods in Phuket that you are interested in.
☑ Decide on the type of property you’d like (i.e. villa, condominium, etc.).
☑ Decide on the purpose of the property (i.e. purely investment, holiday home, or retirement home).
☑ Find a realtor or property agent that you can trust.
☑ Decide on your budget.
☑ Double-check your finances to ensure that you can afford a property within your budget.
☑ Talk to banks and/or mortgage lenders and get a mortgage pre-approval.
3. Property Hunt
☑ Identify your preferred neighborhood (for example, Kamala, Rawai, Patong, Karon, Kata, Bangtao, Surin, and so on).
☑ Decide whether you want an oceanfront, non-oceanfront, sea view, or non-sea view property.
☑ Decide whether you want your property to have professional hotel management services.
☑ Decide whether you want a leasehold or a freehold property.
☑ Decide how many bedrooms you want.
☑ Go on property tours and shortlist properties you’re interested in.
☑ Make offers and negotiate.
☑ Pay a reservation fee.
3. Due Diligence
☑ Perform due diligence on the developer.
☑ Verify the conditions of the sale agreement with all relevant parties.
☑ Verify the ownership of the land of the project you have chosen.
☑ Verify the status of EIA (environmental impact assessment) and the building permit of the property.
☑ Sign the SPA (sales and purchase agreement).
☑ Pay a deposit.
☑ Perform a property inspection.
☑ Register the property at the Land Department.
At Property in Phuket, we have a team of highly specialized and multilingual property agents who can guide you step-by-step through the investment process at a pace you’re comfortable with. We also have a legal team who will ensure that all the details concerning your investment are in place.
All in all, with Property in Phuket, both you and your investments will be safe.
If you are interested in coming to Phuket, contact our team at +66 (0)986717328 or send an email to email@example.com for a FREE property tour!
To view the available luxury properties in Phuket, please visit www.propertyinphuket.com.