Check of real estate on Phuket before purchase: complete guide to safety of transaction
4 min
Check of real estate on Phuket before purchase — mandatory stage, which protects buyer from loss of money and disputing of ownership right. Independent inspection of apartment does not give guarantees of safety, since main risks are hidden in legal history of object.
The Harmony Ocean Property team checks the legal side of every property thoroughly: our specialist goes through the documents so that no hidden threats remain for the investor, while Vladimir Mironov assesses the property’s risks as a whole.
Primary check of real estate before purchase
Primary check of real estate before purchase includes analysis of title documents and extract from register. This is basis for formation of trust to transaction.
Analysis of title documents
It is important to make sure that seller has legal right to dispose of housing. It is necessary to study contracts of purchase and sale, deeds of gift or certificates of inheritance. In practice of Harmony Ocean Property not infrequently are found objects with chain of suspicious transfers of rights, which require additional investigation.
Request of current extract from Land Department
Extract from Land Department shows current owner and presence of encumbrances. Without this document check of real estate before purchase is impossible, since arrest or pledge can become insurmountable obstacle.
Legal purity of apartment: search for hidden threats
Legal purity of apartment is confirmed by absence of court disputes and debts. It is important to check object through several independent state channels.
Legal support of transactions with real estate of Phuket
Check of seller for bankruptcy and debts
Bankruptcy of seller carries risk of cancellation of transaction through court. Specialists of Mironov check owner through database of bailiffs and register of bankrupts, to exclude possibility of collection of debts at expense of sold apartment.
Analysis of history of transfers of ownership right
Frequent change of owners over short period — alarming sign. Legal support of transactions with real estate of Phuket helps to identify grounds for disputing of previous contracts, which can lead to loss of real estate.
Check of legal capacity of owner of real estate on Phuket
Check of legal capacity of owner is necessary to exclude transactions with mentally unhealthy persons. This is one of most critical stages of audit.
Check before purchase of real estate on Phuket
Risks associated with psychiatric dispensaries
If seller is registered in psychiatric dispensary, transaction can be declared invalid. Lawyers require current certificates from specialized dispensaries immediately before signing of documents.
Check of powers of attorney, if transaction proceeds without owner
Transactions by power of attorney — zone of increased risk. Vladimir Mironov, expert on real estate on Phuket, notes: it is important to personally contact owner, to confirm intention to sell object.
After the purchase
Rental, management, reporting
We show how the property works without you: seasonal occupancy, running costs and owner payouts.
Worked through on your own numbers
Risks of investments in real estate on Phuket: what to pay attention to in contract
Risks of investments in real estate on Phuket are often hidden in details of contract of purchase and sale. Conditions of transaction must be transparent for both parties.
Procedure of settlements and safety of funds
Safe transaction with real estate requires use of letter of credit. We recommend to avoid transfer of cash outside banking instruments.
Check of real estate on Phuket before purchase requires professional approach and attention to details.
Order comprehensive audit of your object of real estate in Thailand, to exclude hidden defects of ownership rights.
Purchase of real estate on Phuket
Frequently asked questions (FAQ)
Is it possible to check apartment through internet independently?
Only partially. Official databases give data on encumbrances, but do not show risk of disputing of transaction by heirs or presence of hidden debts of seller.
What documents to demand from seller first of all?
Request original extract from Land Department (not older than 5 days), title document and certificates of absence of debts on utilities for 3 years.
What will happen if not to check apartment for encumbrances?
Object can be arrested, and transaction suspended in Land Department. Debts of seller on mortgage, which is listed as encumbrance, will pass to new owner.
How quickly is legal audit of object conducted?
Experts of Harmony Ocean Property perform comprehensive check in 3–5 working days.
Why is expert assessment more important than personal inspection?
Check of documents reveals 90% of hidden risks, which cannot be seen during inspection of layout or quality of repairs.
Conclusion
Check of real estate in Thailand before purchase requires professional approach. The contract and documents are checked by an independent Thai lawyer we work with regularly — a separate service with a clear price (15,000–40,000 THB). We organise the review, keep it on schedule and explain the findings in terms of the investment.
Order professional check in property investment company Harmony Ocean Property — protect yourself from risks
