Sales Contract Review in Thailand. Thoroughly reviewing the sales agreement for a Thai property is essential before signing it to ensure it meets your requirements and protects your interests. The following considerations are important while examining a Thai sales contract:
Make sure the location, measurements, and special characteristics of the property are accurately described in the contract.
Be sure you’re getting a fair deal by checking the purchase price and payment terms. You can use this to pay for the deposit, the repayment plan, and any penalties for being late.
Always double-check that the contract details not just the fees and taxes involved with transferring ownership of the property, but also the precise procedures to be followed.
Make sure you’re aware of any conditions that need to be met before the transaction can go through, such obtaining a mortgage or passing a building inspection.
Make that the seller discloses all relevant information about the property, including its history and any defects, and provides any necessary warranties.
Verify that there is a reasonable and fair process for resolving disputes by reviewing the section on dispute resolution.
Before signing the contract, make sure it abides by all relevant Thai laws and regulations.
Having a seasoned real estate attorney review a sales contract before you sign it is a good idea to make sure all the important details are there and that your interests are protected.
