Due diligence is crucial when purchasing property in Thailand to protect your investment and avoid potential legal and financial risks. A comprehensive investigation before finalizing any property transaction can prevent serious issues.
Key Areas of Investigation
Title Deed Verification
- Confirm authentic ownership documentation
- Check for any transfer restrictions
- Verify property boundaries and size
Legal Status Check
- Review court records for pending litigation
- Verify bankruptcy status of the seller
- Examine any existing liens or mortgages
Property Specific Checks
Physical Inspection
- Assess construction quality
- Verify connection to public utilities
- Evaluate surrounding area development
Development Compliance
- Review building permits
- Check zoning regulations
- Verify environmental compliance
Special Considerations
Condominium Purchases
- Verify foreign ownership quota (49% rule)
- Check building management status
- Review facility maintenance records
Land Purchases
- Confirm land use restrictions
- Check drainage and infrastructure
- Verify access to public roads
Professional Support
Legal Assistance
A qualified lawyer should:
- Conduct title searches
- Review all documentation
- Verify seller’s legal capacity to sell
Documentation Requirements
Essential documents include:
- Title deed copies
- Construction permits
- Environmental approvals
- Previous transfer records
Due diligence in Thailand requires thorough investigation and professional assistance to ensure a secure property investment and avoid potential complications.
