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Due Diligence and Purchasing Property in Thailand

Melbourne retiree Daryl Davies outside the Chom Tawan residential development on Phuket’s west coast.

PHUKET – On December 17, 2014, the deadline for an agreement to settle a debt for a troubled condominium project in Phuket passed. The developer, Napawan Co. Ltd, failed to pay a debt owed to the Industrial and Commercial Bank of China. The debt was secured using land titles and homes that were leased to foreign lessees.

The developer promised to provide the lessee freehold title in the property once the project was completed. When the developer defaulted on the debt, the lessees were shocked when they found out that they might be evicted from their homes.

The experience of the lessees who may lose their home and investment is an example of why due diligence is required when purchasing property. It is important for purchasers to be aware of the potential legal issues with their property purchases. For foreigners attempting to purchase or lease property or buildings in Thailand, it important to understand Thailand’s restrictions on foreign ownership of property.

Due Diligence goes beyond the terms of the contact. It is necessary to complete a title check, to physically inspect the property, review government permits, and review liens on the property. In addition, they need to complete a background check on the property developer and seller. The complex method of registering property creates situations where fraud can easily take place.

Title Search

The Phuket Condominium project illustrates the importance of a title search prior to purchasing property or entering into a long-term lease. Condominium development projects may have to go heavily into debt to start development. It is necessary to ensure that the property does not have any liens or mortgages on the property. Liens or mortgages attached to a property may make the property unsellable.

Before placing a deposit on the property, buyers should search and review the legal documents pertaining to the property at the government land office. Each type of land title confers different property rights. There Tor Bor Tor Hok which was essentially squatter claims to a property to Chanote Title which is a true title deed that allows a property to be transferred or sold.

There are many other types of property rights in between. In addition, there may be easements or appurtenances that confer rights to third parties over portions of the property.

Physical Inspection
An independent surveyor should inspect the property to see if the property is connected to a public road. The boundaries of the land should be clear and the title deed accurately reflects the actual boundaries. Access from public roads to the property will affect the property price. If there isn’t a direct access to a public road, the owner can legally force adjacent property owners to provide access but there will be legal costs and problems with neighbors.

In addition, there should be a review of the local zoning ordinances to see what will be built in nearby lands. A view of the beach or mountains might be blocked by a planned tall resort hotel, a large super mart, or a loud highway.

The property value for property with an uninterrupted view of the ocean or the mountains may decline if the view is blocked.

Building Permits Review

It is important to ensure that the developer or seller has approved building permits and permission for development. Due diligence requires a review of the government filings to ensure that the type of development does not conflict with local restrictions in the area.

There have been recent news of condominium complexes and resorts being torn down because they encroach on national parks or government protected lands. An Environment Examination Report of the property can confirm that the property is being developed in accordance of environmental regulations.

Seller Background Review

The condominium project in Phuket is an example of the dangers of a developer who is not properly funded. There are also circumstances where people claim to own property which they do not actually own. In order to reduce the potential for fraud or abandoned projects, it is important to review the credentials of the seller or property developer.

The individual sellers and developers must be identified. If the developer or seller is a corporation, it is important to review the credentials of the primary shareholders of the company. The property developer and seller’s financial and criminal background should be checked.

The property owners and developers names should be crossed checked with check names in court records for ongoing or past litigation. Litigation against the property developers and sellers is a sign of past or current problems.

Due diligence requires a visit to the seller or property developers past projects or sales. The buyer should review the maintenance condition of the project and interview the current residences for any problems with the seller or ongoing issues with the property. The buyer should review the satisfaction level of the current owners. While not all projects are perfect, the investigation may reveal situations which can help the buyer bring up potential after sale concerns during the contract negotiation.

Thai Property Laws

Foreign ownership of property is complicated. The laws create hurdles for non-Thais to own property in Thailand. Under Thai law, foreign nationals are not allowed to outright own land in Thailand. The foreign national may lease the property but the lease cannot exceed thirty years.

If the terms of the property contract says the lease is more than thirty years, the term will be reduced to thirty years. The lease can contain a renewal option for another thirty years but there may be problems with the renewal.

There may also be complications with family law and ownership of property in Thailand. When the foreign national is married to a Thai citizen, there may be some benefits during the marriage and problems if there are a divorce.

The property can be purchased in the name of the Thai spouse but if there is a divorce, the foreign national may lose the property. There will also be issues with inheritance if the foreign national wants to transfer property such as a condominium to a non-Thai person.

Before embarking on the purchase of Thai property, it is in the buyer’s best interest to seek counsel of a disinterested English speaking Thai lawyer who can discuss Thai laws and regulations as it pertains to the buyer’s specific situation. In addition, a Thai attorney can review the contract terms and negotiate with the seller or property developer for changes to the purchase contract.

A property contract is required to be in Thai. An English translation is allowed but the Thai version controls in court.

Purchasing property in Thailand is a complex process. If a foreign national wants to purchase property, the buyer should seek the assistance of a non-interested, knowledgeable, and experienced professional to navigate them through the process. Be careful of guidance by someone who has a personal interest in the sale of the property. They may not have your best interest in their mind.

By Mr. Robert R. Virasin

Our licensed Thai lawyers at Siam Legal International in Bangkok have valuable knowledge in dealing with government agencies in Thailand, and this experience is of great importance when dealing with Thai legal cases and investigative service.

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First-Time Buyer’s Guide to the UK Property Market

Entering the UK property market as a first-time buyer can feel both exciting and daunting. The process is filled with potential pitfalls and complex decisions, but with the right guidance, it can be navigated smoothly. The estate agents in Yorkshire demystify the journey from the initial decision to buy a home to the moment you step over the threshold of your new property.

Understanding Your Financial Position

The first and perhaps most crucial step in the home-buying process is understanding your financial situation. This includes assessing your savings, income, and current debts. Here’s how you can prepare:

1. Deposit: Generally, you’ll need at least 5% of the property price as a deposit, though aiming for 10% or more can provide better mortgage rates.

2. Income and Expenses: Use a budget planner to assess your monthly income against your expenses. This will help you understand how much you can afford in monthly mortgage repayments.

3. Credit Score: Lenders will evaluate your credit score to determine your mortgage eligibility. So it’s important to have a good credit score, and you should work on it if required.

4. Mortgage Options: Speak to a mortgage advisor to understand different types of mortgages, such as fixed-rate, variable-rate, and help-to-buy schemes.

Getting a Mortgage Agreement in Principle

A Mortgage Agreement in Principle (AIP) is a statement from a lender indicating how much they’ll likely lend you. You will be a more attractive buyer with an AIP as it shows sellers you’re serious and financially prepared.

Deciding What You Want

Before you start viewing properties, it’s essential to know what you’re looking for. Consider the following factors:

1. Location: Proximity to work, schools, public transport, and amenities are key. Research neighbourhoods to find the best fit for your lifestyle.

2. Property Type: Decide whether you want a flat, terraced house, semi-detached, or detached property. Each has its pros and cons.

3. Must-Haves: Make a list of non-negotiables, such as the number of bedrooms, garden size, and parking facilities.

4. Future Proofing: Consider your future needs. Are you planning to start a family? Do you need space for a home office?

Starting the Property Search

With a clear idea of what you’re looking for, you can begin your property search. Here are some tips:

1. Use Online Portals: Websites like Rightmove, Zoopla, and OnTheMarket are excellent starting points. Set up alerts to get notified of new listings that meet your criteria.

2. Visit Estate Agents: Register with local estate agents who can provide insights into the market and inform you of new properties before they’re listed online.

3. Attend Viewings: Don’t rush this part. Visit several properties to get a feel for what’s available in your price range.

Making an Offer

Once you find a property you love, it’s time to make an offer. Here’s how to approach it:

1. Research: Check the selling prices of similar properties in the area to gauge a fair offer.

2. Negotiate: Don’t be afraid to negotiate. The starting point is most usually the asking price.

3. Conditions: You might include conditions in your offer, such as the inclusion of certain fixtures or a specific moving date.

The Legal Process

If your offer is accepted, the legal process begins. You’ll need a solicitor or licensed conveyancer to handle the legalities. Here’s what to expect:

1. Conveyancing: This is the legal transfer of property ownership. Your solicitor will handle this, including conducting searches, dealing with the Land Registry, and transferring the funds.

2. Surveys and Inspections: Arrange for a property survey to check for structural issues. There are different types of surveys, from basic condition reports to full structural surveys.

3. Mortgage Finalisation: Once the survey is complete and satisfactory, your mortgage can be finalised.

4. Exchange of Contracts: This is when the sale becomes legally binding. You’ll pay your deposit at this stage.

5. Completion: On the agreed completion date, the remaining money is transferred, and you receive the keys to your new home.

Moving In

Moving day can be hectic, but planning can ease the stress:

1. Hire a Removal Company: Book a reliable removal company well in advance. Discover the best deals by getting quotes from multiple companies.

2. Pack Strategically: Label your boxes by room and keep essential items accessible.

3. Notify Utilities and Change Address: Inform your utility providers of your move date and update your address with banks, the DVLA, and other important institutions.

Settling In

Get settled. Introduce yourself to the neighbours, familiarise yourself with the local area, and really start to make the place your own.

Here are a few final tips:

1. Safety Checks: Make sure that your smoke alarms and carbon monoxide detectors are working, and make sure that you know where the gas and electricity meters are located.

2. Maintenance Plan: Keep a record of the smooth functioning of your new home with a maintenance schedule, complete with regular checks and seasonal tasks.

3. Personal Touches: Add personal touches to make the space feel like home. This can be from putting up family photos or redoing the decoration in your rooms.

Conclusion

Buying your very first home in the UK is most definitely a milestone, difficult and full of challenges but rewarding in the end. Such a philosophy guides you in understanding finances and knowing what you want to achieve from detailed research, and seeking professional advice that confidently helps you navigate the property market. Yes, the journey may have its hurdles, but in the end—owning your own home—the reward will be worth the effort. Welcome to your new chapter!

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5 Health Benefits of Regular Pedicures

There’s nothing quite like a pedicure to keep your feet looking and feeling their best, but did you know that pedicures do more than simply enhance the appearance of your feet? Many people don’t realize that regular pedicures can come with a wide range of health benefits that can promote the well-being of your feet, so here are some ways that your routine pedicure keeps both your toenails and feet in the best condition possible!

Smoother Skin

One of the biggest misconceptions about pedicures is that they only cater to and look after your toenails. While you’ll definitely be leaving each session with a fresh coat of nail polish, your pedicure can also do wonders for the health of your skin. Aside from trimming and shaping your nails and cuticles, you’ll notice that your nail technician also dedicates a few steps to the skin of your feet.

After inspecting your feet and looking for any issues or imperfections that may need to be addressed, your technician will work on an exfoliating scrub to remove any dead skin cells. This step may also be aided by a foot file, which can be used to buff away any calluses and other problem areas manually.

Softer Skin

After your nail technician addresses all the problem areas of your feet and removes any unwanted dead skin cells, he or she will often massage in a moisturizing product, such as lotion, cream, or butter, to ensure that your skin is properly moisturized. These products contain skin-loving ingredients that will ensure that your feet have everything they need to look and feel their best so that you can walk out of your pedicure with a renewed sense of confidence.

Healthier Nails

After your pedicure session, your nails will not only look better due to the fresh coat of nail polish, but they’ll also be healthier and stronger. This is because your nail technician takes their time to ensure that your nails are properly looked after through steps that include deep cleaning, nail trimming, nail filing, and cuticle care. All of these things work together to prevent issues like ingrown nails from occurring, all the while improving the appearance of your nails.

Increased Blood Circulation

While the specific steps included in your pedicure will depend on the beauty salon, most pedicures will have a massage step somewhere in the mix. One of the often overlooked benefits of these massages is the increased blood circulation, which can deliver more nutrients and oxygen to your feet and nails, promoting their health and appearance. Aside from that, better blood flow means reduced tension and soreness, as well as better distributed heat throughout your body.

Reduced Infections

A significant amount of dirt and bacteria can build up on your feet without you even realizing it, but pedicures can be a great way to prevent these from happening in the first place. The exfoliation step of a pedicure removes dead skin cells as well as all the debris that may have accumulated underneath, and the deep cleaning of your toenails and cuticles also gets rid of any impurities that may have slipped beneath them, which can stop infections from happening.

These are some of the many health benefits that you can look forward to at your next pedicure appointment. However, it’s worth noting that you need to book regular sessions to truly reap all the rewards. This can be difficult, especially when you don’t feel like driving to your nearest nail salon after a long day, but the good news is that you can enjoy the salon experience in the comfort of your own home with a home pedicure service.

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Commercial Boiler Installation Services London

For businesses in the bustling city of London, having a reliable heating system is crucial. Whether you’re opening a new office, expanding your current premises, or simply upgrading an outdated system, commercial boiler installation services for businesses in London are essential to ensure your operations run smoothly and efficiently. Proper installation and maintenance of commercial boilers can make a significant difference in energy efficiency, cost savings, and the overall comfort of your workspace.

The Importance of Professional Installation

When it comes to installing a commercial boiler, professional expertise is paramount. Here’s why:

Efficiency and Performance: Professional installation ensures that your boiler operates at peak efficiency, reducing energy consumption and lowering utility bills. A well-installed boiler can effectively meet the heating demands of your business without unnecessary energy waste.
Safety: Commercial boilers are complex systems that require precise installation to operate safely. Professional installers adhere to stringent safety standards and regulations, minimizing the risk of accidents and ensuring the safety of your employees and premises.
Compliance with Regulations: Commercial properties are subject to various building codes and regulations. Professional installers are well-versed in these requirements and ensure that your boiler system complies with all local laws and standards.
Longevity and Reliability: Proper installation is critical to the longevity and reliability of your boiler. A professional installation can prevent common issues such as leaks, pressure problems, and system failures, ensuring that your boiler runs smoothly for years to come.

Key Considerations for Commercial Boiler Installation

When planning for a commercial boiler installation, several factors need to be considered:

Type of Boiler: The type of boiler you choose will depend on your business’s specific needs. Options include gas boilers, oil boilers, and electric boilers, each with its own set of advantages. Consulting with a professional can help you determine the best choice for your business.
Sizing and Capacity: The boiler’s size and capacity must match the heating demands of your commercial space. An undersized boiler will struggle to meet your needs, while an oversized one will lead to inefficiencies and higher costs.
Location: The placement of your boiler affects its efficiency and accessibility for maintenance. Professional installers can help you choose the optimal location for your boiler.
Integration with Existing Systems: If you’re upgrading or replacing an existing boiler, it’s essential to ensure compatibility with your current heating system. Professional installers can seamlessly integrate the new boiler with your existing setup.

Choosing the Right Installation Service

Selecting the right installation service provider is crucial to the success of your boiler installation project. Consider the following when making your choice:

Experience and Expertise: Look for a provider with a proven track record in commercial boiler installations. Experienced installers can handle the complexities of commercial systems and provide high-quality workmanship.
Reputation: Check reviews and testimonials from previous clients to gauge the provider’s reliability and customer satisfaction.
Comprehensive Services: Choose a provider that offers a full range of services, including installation, maintenance, and repair. This ensures that all your boiler needs are met by a single, trusted source.

In London, ROWLEN is a reputable name known for delivering top-notch commercial boiler installation services. Their team of experts is dedicated to providing efficient, safe, and compliant installations tailored to the unique needs of businesses.

Conclusion

Investing in professional commercial boiler installation services for businesses in London is essential for ensuring efficiency, safety, and long-term reliability. By choosing an experienced and reputable service provider like ROWLEN, you can rest assured that your heating system will be installed correctly and maintained to the highest standards. Proper installation not only enhances the performance of your boiler but also contributes to the overall comfort and productivity of your business environment.

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