It is not a legal requirement in Thailand to use a Real Estate Lawyer when it comes to purchasing or selling any property, but if you lack Thai Law knowledge, or if you’re a foreigner, it’s paramount to obtain sound legal advice once you’ve found property you are interested in purchasing.
This is something we cannot stress enough due to the many pitfalls that foreigners face when trying to own land or property in Thailand. We would always advise that the very first step you should take before undertaking a property purchase is to enlist the help of a reputable lawyer for high quality legal advice. We would go as far as to say that sourcing your Real Estate Lawyer should come before even searching out properties.
Legal Advice, What Makes A “Good Real Estate Lawyer” In Thailand?
Most issues that foreigners come across in Thailand are accompanied by the same thing… the dreaded language barrier. So finding a Real Estate Lawyer with quality legal advice that can explain the Thai Property Law into your own language, clearly and precisely, is a must. A “Good” Lawyer will be fluent in both Thai and English with those being the most popular languages spoken in Thailand. Depending on the rarity of your local dialect, you may need a bigger and perhaps more expensive legal firm which has more recourses available to ensure you can communicate properly, giving you more piece of mind.
Recommendations Matter – Read Reviews
There is always the risk of receiving poor legal advise if you do not do your research beforehand, so generally it pays to use a lawyer that has been recommended from a friend, aquaintance or one of the many online review sites available online. You want a firm that is known for the integrity, honesty and reputation.
You must also make sure that the advice you are receiving is independent as you may be given biased information if you use the lawyer firm attached to the property director that you wish to purchase from. It’s inevitable that this will come at a cost but when it comes to investing large sums of money in property, this can often be your most important purchase.
As a foreigner in Thailand, you would not be expected to be overly familiar with the Property Laws, or the many pitfalls surrounding them. So getting the best representation that you can is often worth its weight in gold, or baht.
How To Avoid Conflicts Of Interest
A reputable law firm will never advise you to do anything unethical and will explain everything to you very clearly from the start as they will only be acting in your best interest. As mentioned above in this article, it’s important not to use a law firm that represents a developer or one that soley recommends “X Development” as they are clear signs of a conflict of interest and you may be putting yourself at financial risk.
Experienced Lawyers Carry Out Thorough Due Diligence On Your Behalf
Carrying out the proper due diligence checks is an extremely important process when it comes to purchasing property in Phuket, or anywhere in Thailand. These due diligence checks will include checking the land itself, the sales contract that has been presented and also the developer themselves to make sure they haven’t been involved in shady dealings or failed projects beforehand.
While there may well still be some issues further down the line that went under the radar, your lawyer can certainly do enough checks that will title the scales to be much more in your favour allowing you a little extra piece of mind.
As much as an experienced lawyer will be able to quickly identify any issues that may come your way, choosing a lawyer that does not have the sufficient experience could lead to disastrous consequences.
It’s Important To Listen To Your Lawyer’s Legal Advice
When you receive advice from your chosen propety lawyer, it’s important to listen to them propery and heed their advice. You would be surprised how many people choose to employ a property lawyer and them completely ignore the legal advice given, often blinkered by a “dream property”. They are employed to protect your best interests after all.
Using A Lawyer Will Save You Time
You’re serious about buying a property and you don’t have time to waste, even if you’re living here or just flying in to Thailand to find that dream property. You want to maximise your time property hunting to ensure everything is done properly. With the right lawyer, you will spend less time looking at bad property investments that don’t offer the right legal ownership guarantees that you will want.
Our Final Thoughts
A sound legal representation team will serve to protect your interests, save you a lot of time and ultimately and perhaps most importantly, save you money. Buying property abroad is a big investment, so it’s good to be protected as well as possible.
