How to buy a house in Thailand

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Buying procedures

When you have selected a house, we will sign a Booking Agreement. This will give you a guarantee that the object selected by you will not disappear to someone else before you have been able to sign a Purchase Contract. You will be asked to pay a booking fee, which is 10% of the Purchase Contract sum. The booking fee shall be paid to Ban Chang Property´s Swedish bank account, and it will be deducted from the Contract sum at the date of Contract signing. Should you change your mind within 2 months, you are fully entitled to switch your booking to any other of our objects. Should you change your mind completely, not wishing to buy any house, the booking fee will not be refunded.

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Purchase Contract

A Purchase Contract for the house will be signed at the latest 60 days after the booking date. At the latest 45 days after the date of Contract signing, a first installment, 40 % of the Contract sum, will be made. Another 30% will be paid when the roof has been finished, and 15% when the house has been completely erected. The last 5 % of the Contract sum will be paid when the final inspection has been approved.

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Leasing agreement

According to the law foreign citizens may not own land in Thailand. Ban Chang Property offers a secure and safe house ownership in combination with long land leasehold. Leasing is allowed for up to 30 years, with options for extension by 30 + 30 years. When a leasehold contract is signed and activated, the leasehold contract owner is protected by Thai law through the official registration of the contract owner´s name at the Land Department.

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Agreement regarding maintenance of the area

A 2 year agreement will be signed regarding maintenance of the area. When this agreement expires one option is to extend the agreement. Another option is that a local area organization is formed, to take care of maintenance and costs for common activities and/or investments.

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Additions and changes

It is of course possible to make additions to or make some modifications of the selected house. As soon as the Contract has been signed, we will discuss any individual wishes of yours to ensure that you will be able to give the house some of your personal touch. We will then walk through any price effects of your desired additions and modifications, and sign a separate agreement regarding our conclusions.

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Take over

The erection time for the house is 8 – 12 months. When the erection is finished there will be an inspection together with the buyer. Any potential complaints will be corrected, the final installment will be made and the customer may take over the ownership of the house.

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Time of Guarantee

The house has a one-year guarantee, which starts after approval of the final inspection. After one year a guarantee inspection will be made, and any errors, which have appeared during the time of guarantee will be corrected. The guarantee covers errors and failures caused by mistakes in the house design or defects in delivered materials.

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New house owner in Thailand

There are a few practical items to be considered in connection to the purchasing of a house in Thailand. Here are a few areas, where we would be happy to help facilitating your life as new house owner:

* Our local customer contact responsible person will accompany you for a full day to help looking at interior decoration, buying furniture or any other things related to your new house

* Anything required to give you the best possible start in your new house

* We will help you to acquire insurance for the house and to open an account at the local bank in order to facilitate your handling of payments and money transfers

* We will monitor progress of the erection and take photographs for you to be able to follow the project.  

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Please contact us for further information.

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