Lets Live in Thailand: BUYING PROPERTY IN THAILAND

Подписаться 569

50% 1

This week is about Buying Property in Thailand. You’ll discover the most convenient way to buy property in Thailand - buying a condominium in your own name. You’ll learn the three types of condos you can buy in Thailand: Pre-owned, New Development, and Off-Plan. Then you’ll find out how to find them, and how to do the due diligence required to make a pain-free purchase. I’ll take you through the documents and procedures you’ll use to finalize ownership of your newly acquired Thai Property. Finally, I’ll reveal the little-known alternative ways expats buy condos, townhouses, houses, and land in Thailand by using companies, leasehold and usufruct, so that you can even “own” land in Thailand. At the end of the video, I'll give you free house plans to build from! (Just kidding about the house plans).
Recorded in Lampang Thailand at the Lampang Museum
Don't miss all the upcoming informative and entertaining videos at channel ‪@LetsLiveinThailand‬
Let's Live in Thailand - Why Me?
Let's Live in Thailand - Who, Me?
Visas for Thailand (September 8)
Moving to Thailand (September 15)
Your Money in Thailand (September 22)
Renting in Thailand (September 29)
Regions of Thailand (September 29)
Buying Property in Thailand (October 6)
Health, Healthcare and Insurance (October 13)
Relationships and Thai Law (October 20)
Secrets of Thai Culture (October 27)
Thai Language and Communication (November 3)
Getting Around in Thailand (November 10)
All the Secrets You Missed (November 17)
letsliveinthail...
#thailand #expatlife #expatlifeinthailand #thailandtravel #thaifood #House #Condominium #Condo #Lease #Leasehold #Usufruct #Company #Purchase #Townhouse #Land #Development #Offplan #Developer #Villa #Poolvilla #Preowned #Pre-owned

Опубликовано:

7 окт 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 9

@johnnielson4341 23 часа назад

8:50 The big risk in buying condos, any condo, in Thailand is that once the developer has sold all the units he no longer has an incentive to maintain all those amenities like pool and gym. Thailand is littered with deteriorating condos.

@LetsLiveinThailand 22 часа назад

You have a good point, which applies to condos everywhere (Florida condos are notorious). That’s why it’s important to do your due diligence. In my opinion, it’s best to buy in an established older building so you can see how it has been funded and maintained over the years. For instance, the building I live in has a 95% first pass collection rate on annual fees (That is, only 5% of owners pay late or end up getting sued by the association). Consequently, the building has been well maintained and is even upgrading. When buying a new development, it’s a bit of a gamble. Also, it’s not the developer who is generally the problem, it’s the owners - they look to pay the minimum, and will vote against any special costs for repairs as the building ages. If you have a good owner pool, you’ll have good maintenance. Remember, many owners are retirees on fixed incomes, or investors who just want something to rent out, neither of which is particularly interested in putting more money into the building. BTW, please subscribe if you haven’t already - more subscriptions means more exposure on RU-vid so more folks get to see the videos. Thank you!

@markdavis3930 День назад

Tim Cahill is Australian Lol, still great information 👍

@LetsLiveinThailand День назад

My bad! He was ALMOST an irish footballer! lol www.smh.com.au/sport/soccer/tim-cahill-s-top-ten-moments-the-greatest-socceroo-that-almost-wasn-t-20180717-p4zrwu.html

@LetsLiveinThailand День назад

Also, thank you for watching. Don’t forget to subscribe for more!

@oldthaiexpat 10 часов назад

There is a little misleading information here. Foreigners forming a Thai company to own land is illegal according to the land act. It is using Thai nominees. Look at section 96 I believe. Also using an usufruct is very risky. With an usufruct you are responsible for repairs and maintenance on the property. You must treat the property as any reasonable person would treat their own property. Also you are responsible for for anything consumed. So say if you leave Thailand to go to your home country and someone were to steal everything out of the house you are legally required to replace it. If it gets vandalized you have to restore it. Also if it gets sold, because you don't own it, the new owners can sue you using the Thai nominee law to have the usufruct dissolved if you weren't married to the previous owner. Usufructs are under sections 1418-1428 of Thai civil and commercial code.

@LetsLiveinThailand 9 часов назад

Thanks for watching and commenting in detail! I don’t know that misleading describes what you find here. I report current practice, provide some caveats, and recommend consulting a lawyer for details appropriate to your individual case. Regarding your description of the responsibilities of usufruct, you describe some pretty detail cases A lawyers advice on individual cases is better than us trying to represent a general case (for instance, many usufructs are for empty land on which to build a house).

@LetsLiveinThailand 9 часов назад

Regarding foreigners forming a Thai company to own land, I specifically mention thats illegal; but also mention that foreign owned thai companies CAN own land if they meet certain BOI requirements. Thanks again for taking the time to comment. Don’t forget to subscribe. RU-vid uses subscription numbers to determine future video exposure to new viewers!

@oldthaiexpat 9 часов назад

@@LetsLiveinThailand I wouldn't say many usufructs are for empty property. Having personal experience dealing with these I would say most, more than 50%, are for land and house. Before recommending an usufruct I would suggest a right of habitation. You have no responsibility over the property, can live there until you die, it is easier to get at the land office, and it is very hard to have dissolved. I didn't mean to say your Thai company info was misleading but your usufruct info. And instead of an usufruct a 30 year lease with a right of superfices is better legally. In general I wouldn't advise any non Thai people to try to buy land or use these instruments. It clearly states in Thai land code trying to get around the prohibition on foreign land ownership is illegal. It could become very complicated if land changes hands. Just rent and be happy. To add one last point, if you invest 40 million baht in an approved method you can ask for permission from the Ministry of Interior to buy 1 rai of land in Bangkok or Pattaya