What are the things that concerns owning a condominium in Thailand?
In considering of owning a condominium unit(s) in Thailand there are some pointers that you need to put in mind, first is the maximum percentage or number of units an alien can own in a particular condominium building, foreigners could own a maximum 40% of the aggregate unit space or a foreign ownership quota of a condominium (i.e. in case of 100 equal units 40 of which could be owned freehold by foreigners) written under the Thailand Condominium Act.
In the case of acquiring a presale condominium it is essential to seek for an assistance of a real estate lawyer to protect your rights in the events of making the documents such as (sales agreement, modes and terms of payment agreement and transferring of the title deeds to your name) all of these documents are paramount in case there might be some breach of contract in the future e.g. delays on the said period of time for the completion of the unit to move- in or just in case of defect in the condition of the unit even in the specified measurement of space on the contract all of these falls under the rights of the buyer and can be your protection in claiming a refund based or a compensation, having said that it is also just and lawful to have a surveyor check the property before moving in the unit to make sure that all are in pristine condition.