Buying property in Thailand always makes for a good investment however without a properly qualified Thai property lawyer you investment could turn into a legal nightmare. Property purchases in Thailand is not well regulated and there are no attorneys trust funds.
When dealing with a property agent in Thailand the middle man is normally not authorised to speak on behalf of the developer. This meaning that whatever agreements you made with the agent might not be in the contract when you sign. The large property developers tend to have their own marketing departments who can assist however they do not do the majority of sales in Thailand. Always seek legal advice before you agree to anything.
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With the growth in the property market the Thai government over the last 5 years have stepped on cracking down on what they view as abuse of the property laws and also tax laws. The following are good examples on what they are cracking down on at present. Note that you should always take proper legal advice from an attorney in Thailand so as not to run afoul of the law.
Property sales are not well regulated in Thailand and this is the primary reason why most buyers retain the services of an attorney in Phuket or Thailand to ensure that they understand the law and that they are not going to invest in property that is not what it seems. Property scams are not new and many do make the news in Thailand. Below are some of them from the local Bangkok Post over the past few years.
These would be the most common property problems in Thailand. These also occur on the island of Phuket and other tropical island in the Gulf of Thailand such as Samui and Koh Pha-Ngan. Always talk to a property lawyer in Phuket if you are looking to buy property as they will need to do a due diligence report on the property, developer as well as the land title deed.