Real Estate Agreements
When buying property in Thailand there are some very common problems which do occur. This is mainly due to the contracts in Thailand and how they are drafted. There are many cultural norms in Thailand when it comes to contracts and property agreements. In many of the agreements only the main agreements are highlighted while the remainder is assumed as being ‘standard’ in Thailand property rentals and agreements. One of the main problems in the agreements comes with buying off-plan as there is at times no construction period given for the development. This allows for many loopholes in the agreements. This is the single biggest issue in real estate agreements in Thailand when buying property. Before you sign a contract more so a contract for a property that is being bought off plan speak to a real estate lawyer in Thailand first! Remember there are many half completed property projects in Thailand and many have lost all their money by signing agreements with no period of construction being stated.
