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Purchase Procedure

In order for us in Oriental Invest to help you, it is important that you first help us. Therefore, we recommend you to consider the following questions so we know exactly what you are looking for.:

  • How much will be the maximum amount you want to invest in your new home?
  • Would you only use your home as a vacation residence?
  • Would you consider your purchase a short- or long term investment?
  • Do you want to rent your property and take advantage of one of our attractive rental programs?
  • Would you like to combine vacation and investment in one?

For Oriental Invest the keyword is trust. This is crucial when we advise you as our customer, but also when it comes to working with our suppliers in Thailand and all over South East Asia.

Below we give you a uniq chance to receive our 32 pages FREE catalog telling you all you need to know before purchasing a property or investing in Thailand. We simply give you 10 years of experience absolutely free.

SEE PURCHASE GUIDE EXAMPLE
  • Just fill in your Name and E-mail in the form below and you will receive the ultimate guide in you inbox. We look forward to hearing from you.

    RECIEVE OUR FREE PURCHASE GUIDE

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    Reservations

    Reservations can be made with a down payment of THB 100,000 to the Oriental Beach Pearl client account. Standard contracts are drawn up free of charge and the property is secured with your signature.

    If you want an independent lawyer to review the contracts, this will be at your own cost and you should expect to pay upwards of THB 30,000 depending on your choice of lawyer (see below). These fees would be paid directly to the lawyer.

    Payment Terms

    When purchasing a ‘pre-construction’ villa payment is normally made in 4 installments. If construction of the villa is well under way, as is often the case in Oriental Beach Pearl, installments will be adjusted accordingly.

    The purchase of an existing villa is usually secured with the THB 100,000 reservation payment and the balance paid when receiving the land title-deed and house registration. If you wish to make alterations to an existing villa we will assist you with our own construction team.

    The Legal Side Of Buying

    Information covering all aspects of buying and owning a property in Thailand can be found to the left of this page.

    In summary, as a foreigner you can own your actual villa 100%, just as if it was located in your home country. The land however, cannot be owned by non-Thai’s and therefore needs to be controlled by you with a lessee contract. The law allows 30-year lease terms that can be renewed 2 times up to 90 years.

    When Oriental Invest started operating in 2006, we worked with an international law firm in Bangkok to draw up contracts for our customers. At that time we were a realtor business and took great pride in making sure our customers were as secure as possible. As a developer we still do that, using the same contracts today. From the beginning we included provision for our buyers, at any time and free of charge, to be able to change the ownership of the land to a company name or designated Thai person, or even to the foreign buyer’s name should the law on land ownership change.

    So your land will be leased but your villa will be owned by you. We always recommend to buy from developers who have the project registered under a Thai company where directors can come and go without effecting your agreement. It is important that you make sure the seller is not a private person as this can cause problems in connection with ownership, renewals, etc. If the lessor is a private individual and this person dies, you may encounter unwanted challenges if the Thai heirs do not wish to renew the agreement.

    We do not recommend setting up a Thai registered company to buy your house and land. This is quite an expensive thing to do, yearly taxes must be paid and there are fairly high capital gains taxes when selling. The only exception is if you are conducting business in Thailand and already have a legitimate registered Thai company.

    Lastly we also advise you not to acquire land in a Thai friend’s or even Thai spouse’s name. The only exception would be if you draw up a strong leasehold contract securing your inheritors in the lease. We know some readers might be offended by this but, although at the end of the day its a personal matter for you to decide, we see no reason why a person should list his/her property/ investment in another person’s name. 1000’s of poorly advised foreigners have been shocked once they actually understand the laws on property ownership but, by then, for most of them it is too late.

    Financing

    Some Thai banks have in recent years opened the possibility of financing foreigners to buy property in Thailand. This is not easy however, the banks may have tough collateral requirements and the process will take time.

     

    Insurance

    Depending on the size/ value of your property, fire insurance will cost between USD 50 – 200 per year and home insurance USD 75 – 300.

     

    Utility Fees

    In Thailand, anyone can call themselves a lawyer and in recent years we have even encountered foreigners who claim to have a degree in law, ‘advise’ people on all kinds of business and property investment whilst teaming up with unlisted Thai counterparts.

    It is very important to check the background of the lawyer you appoint and you should only use those who are Members of the Lawyers Association of Thailand.

    TIP: There can be a huge difference in fees charged by different lawyers. In general, those in Bangkok are more expensive than upcountry, but their standards are also likely to be much higher. We will be happy to share the pros and cons of the lawyers available in Hua Hin, Cha Am, and Pran Buri.

    Lawyer

    In Thailand, everyone can call themselves lawyers, so it is very important that you fully trust the lawyer to assist you in a purchase. Let only trade / company be done / made by a lawyer that is a member of the Bar Council of Thailand.

    Oriental Invest is established in Thailand. We may, as your Danish advisor help you from start to finish! This applies both when it comes to legal assistance, insurance, maintenance / supervision, rental of your property, preparing possible work and / or residence permits, etc.