When buying a property in Thailand, the buyer must define a property purchase agreement with the seller. The drafting or revision of the purchase contract is essential to guarantee your investment and guarantee the rights, duties and responsibilities of each party, since the stipulation of the contract includes all legal implications. This type of contract, like many others in Thailand, is valid if written in Thai. More correctly, it can also exist in English, but as an attachment to the main contract, which must be drawn up and signed in the national language.
For this reason, before signing, it is good to contact professional and local lawyers. Never assume that anyone who can write in Thai is eligible to write or amend a contract. In fact, in Thai, the technical, scientific and legal terminologies come from Pali and Sanskrit. This level of linguistic knowledge is not average. If you want your contract to be a shield of your rights as an investor, first of all you need to make sure that it is written in the right way to be challenged in legal content.

Property purchase agreement: the key points

Drafting or revising a property purchase agreement, our long-standing legal experience in Thailand focuses on many very important aspects.
1. Definition of the words and sentences used in the Thai language.
2. The duration of the contract.
3. The details of the conditions.
4. Evaluation of the quality of the property.
5. The consequences of delays in fulfilling obligations.

And much more, also based on the type of investment.

In addition to the drafting and review of this type of property contracts, we assist our client in price negotiations, market valuation, provisions regarding the purchase price, payment methods, deposits and correspondence of foreign financial institutions with a bank. local intermediary.

LCS offers professional services for the drafting and revision of commercial contracts of any nature. Contact us anytime…