If you want to purchase or rent real estate property in Thailand, whether for business or personal use, you need to do your due diligence first. Getting a real estate agent in Thailand might be your better option. Purchasing real estate is not the same as when you rent a condo in Thailand. For one, foreigners are not permitted to own land.
Thailand real estate can be complicated. So instead of going about the process of renting or purchasing by yourself, it is more advisable to hire a real estate agent instead to make sure that you’re doing things right.
Before you hire a real estate agent though, here are some things you need to consider.
There is no licensing for real estate agents in Thailand.
Anybody can present themselves as an agent and that’s why it is so easy to be scammed. Find out more about the agent first, such as his background and affiliations, before you hire him or her.
Check to see if the agent works for a real estate agency.
Hiring an agent from a reputable real estate agency makes it easier for you to do background checks. Agencies also provide a more comprehensive set of services, including budgeting and providing legal and tax advice.
Learn more about the real estate agency.
Check with an accredited real estate association if the agency is duly licensed and recognized in Thailand. Learn about their work history and check their network of real estate professionals and how familiar they are with the property market. It would help to talk to some of their clients as well.
Clarify the fees.
Make sure that the cost of services is explained and written in detail for you in the contract. Also, ask about any additional fees in case something comes up that is not covered by the contract. Never sign a contract without clarifying these.
Hire a lawyer.
A lawyer who is an expert in property laws will be able to protect you and ensure that everything pertaining to your transaction is legal.
Hiring a real estate agent can make renting or buying real estate in Thailand easier for you. Consider several agencies and compare them against each other based on the factors listed above to ensure that you hire the right one.