The Double Whammy in Texas - Lower Home Values, Higher Property Taxes

So you have fallen in deep love with Thailand? Like so many others when you, and the thousands that may follow? For whatever reason, you have chosen to possess a property in Thailand? This may be for the long run prospect of creating this wonderful country your permanent home, or as a possible investment, and/or for the pleasure of getting a luxury holiday home in the sun. Regardless of the reason, you can find certain things you will need to think about before jumping head-first into a purchase.

Naturally, what appears like a good idea at the time can often change after a full investigation of the pro's and cons? There is certainly no reason not to take into account this kind of purchase, but like any property deal back in Europe or the USA, it's advisable to transport out due diligence beforehand. Discover the reality before you sign anything, and be sure you have covered everything before you proceed.

Thailand is a fantastic country with some

beautiful beaches, an amazing climate and a very laid back way of life. All very attracting the foreigner just off the plane from their stressful lifestyles back in Europe or the USA. But before you to remain the dotted distinct an agreement, please ensure all the mandatory due diligence has been carried out, since it could have been back home.

Always seek professional legal counsel and obtain a qualified registered lawyer

The very first and probably most critical decision you could make would be to speak to a Thai registered, qualified lawyer who's respected and/or has been highly recommended. That is incredibly important as until you have some comprehensive knowledge of Thailand and the Thai real estate market, you will be needing professional and honest advice. An excellent, trustworthy Thai lawyer can assist you in so many ways, save money and provide many answers to the numerous questions you undoubtedly will have? They could also help you avoid any unnecessary pitfalls produced by your insufficient comprehension of the marketplace, and will guide you through any language barriers.

Always remember when appointing a Thai lawyer, you are basically hiring his/her professional services in order to help protect you from any unforeseen pitfalls, guide you on Thai real-estate law, help with any not enough understanding and/or protect you from any unscrupulous individuals that could be seeking to make the most of you. Lawyers are worth every baht they charge if they're honest, qualified and licensed. Hire a great one and they are an important supply of information and expertise.

An excellent law firm will:
- Check the current owners have the right title to the property
- Check for almost any charges and liabilities still owed on the property
- Check your contract and advise you on the obligations/responsibilities of most parties
- Guide you through the payment/funds transfer
- Make certain that the property is registered appropriately and in the right name
- Provide valuable and essential legal information
- Advise on visa regulations and your options
- Safe guard you against unscrupulous persons wishing to take advantage

Ownership Laws for Foreign Buyers - Ask a Registered Thai Lawyer to Help:

Currently the laws in Thailand only allow certain kinds of property to be purchased and owned on a freehold, and you have to know what they are. A Condominium is the very first type that comes to mind and a very good option. But despite having a condominium one needs to check the unit to be bought falls into the right legal category. Check the laws governing this, and ensure you carry out all the best actions that creates an easy and straight forward purchase. As mentioned previously, an authorized Thai lawyer can do all this for you personally, and they're worth very baht they charge! It is only the foolish who buys a 15 million baht property and then objects to pay a lawyer 50,000- 100,000 to manage the transaction. A Thai lawyer can there be to protect you and your hard earned money. Don't be foolish, and always be sure you seek good legal advice. It can also be foolish, to go the cheap route and use any of many unqualified legal advisers who offer ridiculously cheap legal assistance. Many, you often see in the trunk of tourist magazines, newspapers and occupying numerous street shops. Yet again, be careful, spend some time and be sensible. There are several excellent lawyers on the market and you simply need to find them.

As a foreign investor, there are also methods to lease property in Thailand for up to 30 years! Most are happy to select this choice as a freehold property can be owned by way of a foreign investor on leased land. And even then, there are ways to extend a 30 year lease, but definitely not with a whole guarantee. Once again, seek advice from a qualified, registered lawyer.