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Last Updated: Sep 16, 2021
Completing a thorough real estate due diligence is an essential undertaking before contemplating the purchase, long-term lease, or acceptance as collateral of any immovable property in Thailand. You will want to make sure that the house, condo, commercial property, or other real estate is free from any underlying issues. This applies whether you are acting as an individual or as a company and whether the current owner of that real property is likewise a company or individual.
Conducting a thorough due diligence is an effective way to help you decide if a potential investment is worthwhile. Most importantly, it serves to identify any adverse legal or financial issues you may encounter if you were to enter a transaction.
Due diligence, in general, is an investigation to confirm specific facts or details. In real estate, it is a comprehensive survey of a target property, gathering all the knowledge and information that is useful for a buyer to know before proceeding with the purchase.
In Thailand, this includes determining:
If the property is a condominium or commercial office space, it is also important to confirm that the current owner is not in arrears for management or common area fees. Also, if you are a foreign individual or company, you must ensure that the sale will not exceed any foreign ownership quotas.
GPS Legal has extensive experience helping clients buy and sell real estate in Thailand. We understand the intricacies of Thailand’s land laws and can investigate properties and their owners thoroughly.
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