Registration of buying an apartment in a condominium (secondary market)
Here we will try to describe step by step the legal procedure for buying a condo.
So, you have found a seller who offers you a worthy option, discussed the cost and came to a common denominator. After that, ask him for a copy of the passport, the boyot and the house book and go to the legal office, which
Checks whether the seller is the owner of the condo. On the back side of the container are all former owners of real estate, the last one is the current owner. To find out whether the name in the passport corresponds to the passport of the seller, you can also without the help of a lawyer, if you or your friends know the Thai language.
Checks whether the property is in a long-term lease, under a pledge or other encumbrance. This information is also indicated on the back of the container. If, for example, the condo is under bail, do not rush to get upset. There is an opportunity to agree with the pledgee on the withdrawal of the pledge subject to the return of the debt to him at the time of re-registration of real estate.
Determines the estimated value of the condo. The fees and taxes that must be paid in the Land Department upon registration of the transaction are calculated on the basis of this amount. Estimated cost is usually different from the actual value in the smaller side, but it can be more.
Composes a contract of sale of condo. The contract stipulates all actual conditions, including the procedure for settlements. As a rule, the buyer makes a deposit, which in case of refusal of purchase is not refundable. The final calculation will coincide with the day of transfer of ownership - registration of the contract in the Land Department. The date is determined by the parties and may depend on the period that is required for the buyer to transfer money to his account in Thailand and receive from the bank a confirmation of the transfer in the form of a ForeignCurrency Transaction certificate.
Prepares the power of attorney from the seller and the buyer to register the transaction. The form of the power of attorney is established by the Land Department, it is finished, it is made in the Thai language. This document authorizes the lawyer to take all necessary steps to transfer ownership in the Land Department, and exempts from the need to appear there personally.
Registers a deal in the Land Department. Registration passes after receiving all documents and money for payment of fees and taxes. At the same time, a new contract for the purchase and sale of the standard form in Thai is signed, in which the estimated value of the condo is indicated. The contract, signed by you with the seller earlier, is not presented to the Department.
Sends you the documents: a chanet in which you are listed as the owner, a purchase agreement, registered by the Department, a house book and a check on payment of taxes and fees. Registration is finished.