Which professionals should you call on for a real estate purchase in Thailand?

Buying real estate in Thailand as a foreigner involves much more than signing a contract and transferring money. To secure your purchase, understand the local rules and avoid legal pitfalls, it is essential to surround yourself with the right professionals.

In this article, we list the main stakeholders who can support you, and their role in the process.

The real estate agent

The real estate agent is often your first contact. He can:

• Present you with properties adapted to your budget and your objective,

• Facilitate visits and negotiation,

• To guide you on the areas to be preferred.

💡 Please note: in Thailand, the profession is not as strictly regulated as in Europe. It is therefore crucial to choose an experienced and recommended agent.

To check:

• If they work for a developer or as a self-employed person,

• Its knowledge of the local market,

• Its commission practices (usually paid by the seller).

The lawyer specialising in real estate law

It is the key player in your purchase. The lawyer is responsible for:

• Check the title deed (Chanote),

• Ensure that the property is free of debts or mortgages,

• Drafting or revising the sales contract (or lease for a leasehold),

• Represent you legally at the Land Office.

A good lawyer will also be able to translate the documents and inform you about your rights and obligations.

Astuteness:

Prefer a lawyer who is independent of the developer or real estate agent to avoid any conflict of interest.

The notary… or rather its equivalent

There is no notary in the French sense in Thailand. The verification and registration role is largely supported by:

• The Land Office (cadastre),

• And your lawyer or your representative.

The registration of the property is done in person or via a power of attorney. It is possible to use a “notary public” (private notary) to certify certain documents, but it is not a mandatory step in most cases.

The local accountant or tax specialist

If you buy through a company or want to rent out your property, a local accountant is essential to:

• Manage your company’s accounting (if applicable),

• Declaring rental income,

• Optimize your local taxation,

• Track annual obligations.

Some firms offer all-inclusive packages for foreign investors.

The property management company

If you don’t live on site and want to rent out your property in your absence, using a management company can be a good solution. It can:

• Manage short- or long-term rentals,

• Welcome tenants,

• Perform maintenance and repairs,

• Transmit you the net income.

To be evaluated:

• The commission rate (often 20 to 30% on rental income),

• Services included (cleaning, maintenance, reporting, etc.),

• Their experience with foreign customers.

The banker (if financing or international transfers)

Finally, your banker (in Thailand or in your country) will help you to:

• Organize international transfers,

• Obtain the Foreign Exchange Transaction Form (FET),

• Open a local bank account if necessary.

It is important that the transfer is clearly identified as intended for the purchase of real estate, especially for condominium purchases.

Conclusion: Surround yourself with the right people for a successful real estate purchase in Thailand

Buying a property in Thailand without support can work, but it also means taking unnecessary risks. A good lawyer, a trusted agent, and possibly an accountant or a management company are the pillars of a serene purchase, whether it is to live there or to invest.