How to Deal with a Lawyer when buying Property in Thailand?
As an agency, we can assist our clients in finding a suitable lawyer, but we do not recommend any specific lawyers. The lawyer works for the client, and it is the responsibility of the agents to work with any lawyers and facilitate the process by helping to track down any required documents and acting as a line of communication between all parties.
A reservation agreement can be created without a lawyer and is usually a simple one-page document that outlines the agreed terms of sale.
Producing a sales and purchase agreement is the responsibility of the seller, with the help of their lawyer. The lawyer will create the sales and purchase agreement based on the information provided in the reservation agreement.
Please note that it is not the real estate agent’s responsibility to produce this agreement. However, in cases where the buyer and seller agree to not use a lawyer, a template agreement can be used. It is not advised to proceed without a lawyer, as it can result in extended complications during arbitration.
Once the sales and purchase agreement are created, the buyer can hire a lawyer to review the contract and make any necessary amendments. Additionally, lawyers can provide services such as conducting background checks on the developer and verifying the land title deed.
The fees charged by lawyers depend on the size of the property and services required. A general rule of thumb is 1% of the property value. Some lawyers may include a set number of contract amendments in their fee, while others may charge an additional hourly rate for any amendments needed.