Buying Property in Phuket Guides
The state brokers or lawyers should be responsible for drawing up a contract of property arrangements. If you are willing to buy a new home, apartments, villas or even hotels from a developer, the developers should have a standard contract details formats, which will vary widely depending on the nature and progress of the developments. As a regular rule, you should always have an attorney or an experienced professional read through it.
When buying a completed properties from a private developers, the standard approach would be to draw up a purchase contract, which engages you and the developers to the sale of such property at a specific price at a specific period and normally sets penalties for defaulting.
A minimum deposit at 10% is usually required to guarantee a property and closing payments will normally be done within 15 to 60 days. Longer closing terms can occasionally be agreed, but usually mean paying a larger deposit. Normally, deposits are non refundable except in the event of default by the vendor, so remember that once the deposit is placed, you are committed. Typically, there is an impartial and corresponding commitment from the vendor that he/she will commit to the refund of your deposit and payment of a penalty of an equivalent amount if he/she defaults on the contract. Deposit in escrow is still rare in Thailand, but it is becoming an increasingly recognized way of proceeding. It generally trades off greater security for the buyer's deposit versus a weakened claim for damages in the event of vendor default.
Considerations & Suggestions
If you are looking for buying properties in Phuket, we suggest that you might want to bear in mind for the following issues:
o Location of the properties - Roads, interested places nearby, approximity and access to business, hospitals, shops, beach and etc.
o Telephone - It 's really be able to access to direct lines and IDD facilities or evern ADSL internet access lines.
o Internet Access - Availability for broadband internet or ADSL internet.
o Water - Mains water and supplementary storage facilities.
o Electricity - Mains connection, and backup generators for condominium blocks.
o Security - 24 hour security service, door and window locks.
o Cable or Satellite TV connection.
o Pest Control - localised spraying and flywire screens on windows.
o Water Supply facilities
o Air Conditioning - an absolute necessity in Phuket and all over Thailand
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