Why Thai lawyers are needed by expats buying a condo in Thailand is explained here. Normally the buyer’s agent is paid by the seller. Why do we say that? The agent who represents the seller will get his commission, usually 3% of the selling price from the seller. He does marketing on various websites on behalf of the seller. Then other agents will use the same information to do marketing on various websites also and if they find a buyer, they will become a co-agent with the seller’s agent. Doesn’t it look like both agents work for the seller? For sure Thai lawyers are needed by expats buying a condo to help check the Sale and Purchase agreement (SPA) that it does not put the buyer in a bad position.
Thai lawyers are needed by expats buying a condo for many other reasons. For example, helping to check the seller’s and the condo’s documents and prepare documents needed for foreigners buying a condo. For foreigners working with a BOI company, they do not need the FET Form (Foreign Exchange Transaction Form, issued by a bank inside Thailand through which the foreigners send money into the Kingdom to buy the condo as in other cases. They need an E-land letter issued by the BOI, which is complicated and best handled by Thai lawyers.
The foreigner buying a condo can make a Power of Attorney for the lawyer to appear at the Land Department to process the title transfer on his behalf. Many of our foreign clients choose to work with us at ThaiLawyers.com to help make sure their condo purchases are safe and smooth.