khunsanuk Posted December 23, 2002 Report Share Posted December 23, 2002 Hi, My wife is about to buy some land upcountry. Having no experience with this I am just wondering what kind of pitfalls we need to look out for. Her dad and brother-in-law (both of whom I trust to have her best interest in mind) will be helping out. I do believe they know what is required to do this the right way, but I might as well know what is supposed to happen as well. Sanuk! Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2002 Report Share Posted December 23, 2002 There are several different kinds of ownership papers for land, which give different levels of legal rights. The best kind is called "chanote". So one pitfall to avoid is buying land for which the owner doesn't have a "chanote" Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2002 Report Share Posted December 23, 2002 there are lots of pitfalls. most important is that you buy the land in a place where you have relatives, so that you have support in case of conflict. conflicts can be avoided if the seller knows that he will face serious trouble with a whole family in case he/she tries something. ownership papers. the land has to have nor sor sam or full chanoot title. in case of sor por kor 4 land no name can be registered on the deed yet as that land is only transferrable to relatives, unless you want to go the way of corruption which could backfire in a few years time whan a less corrupt administration might come up. be careful that the previous owner has no loan you don't know about on the land. quality of the land: get somebody knowledgable check out the quality of the earth. if the land is not on the road, do you have rights of passage with the owner of the land next to the road. is it land prone to flooding? do you have water acces, to a klong, river or something. and of course price. and only hand over the money at the time when you get the papers. Link to comment Share on other sites More sharing options...
lopburi3 Posted December 23, 2002 Report Share Posted December 23, 2002 Money. :: There will be a number of charges that have to be paid at the Land Registration Office, in addition to the amount paid to the owner. It should be made clear who is going to pay them as it can be either the seller or the buyer or split I believe. This is the time that the government gets their tax money as most land is not taxed yearly as in some countries. Believe 2.5% of selling price/land value is the norm and a couple of other lower fees. The Land Office will have a price that they will accept and both parties will normally agree that it is the selling price (extra paid off the paperwork). If there is any layer in the family it might be a good time to have him present. Have attended several home sales and each had dishonest bank adjusters/loan people that many people would not notice (increase fees/charge fees that already paid etc). If just between friends it may not be a problem but if buying from a company or bank you should have someone with at least a little knowledge with you. As for the foreigner have not gone through that deal but understand Thai party has to sign document money used to buy land belongs to her alone and foreign party will be asked to sign a document that he understands he can not inherit the land. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2002 Report Share Posted December 23, 2002 was very funny when we bought our land, the people in the land office asked us if the should include my name in the ownership papers. Link to comment Share on other sites More sharing options...
khunsanuk Posted December 23, 2002 Author Report Share Posted December 23, 2002 Hi, Don't know what kind of papers there are, but I heard them talking about M.T.6 (?), and about getting government people measure the land. "quality of the land" Not a problem. My wife's brother-in-law has been renting this land for the last few years and considers it good rice growing land. It is also right on the road, with access to water. "and of course price." Price I think is decent, they need money and dropped the price 2,500 Baht/rai. Again the b-i-l considers this a good buy. "and only hand over the money at the time when you get the papers." Absolutely! Sanuk! Link to comment Share on other sites More sharing options...
khunsanuk Posted December 23, 2002 Author Report Share Posted December 23, 2002 Hi, "As for the foreigner have not gone through that deal but understand Thai party has to sign document money used to buy land belongs to her alone and foreign party will be asked to sign a document that he understands he can not inherit the land. " We are not legally married in Thailand, so my wife still uses her maiden name. It is all her money, and will be her land. Sanuk! Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2002 Report Share Posted December 23, 2002 that sound a good deal for what i can read. i am not really familiar with that particular deed, but as it is in the village of your missus, than i guess it should be OK. also, 2500 baht a rai sounds brilliant. every land sale has to involve government people to measure it as all transactions have to be registered. from what i can see here i can only say that you should go for it. Link to comment Share on other sites More sharing options...
khunsanuk Posted December 23, 2002 Author Report Share Posted December 23, 2002 Hi, "also, 2500 baht a rai sounds brilliant." I think you misunderstood. What I said is that they dropped the price by 2,500 Baht. The current price is 12,500 Baht per rai. I also just found out that the land does not have a chanote. According to the missus it will be another couple of years before one will be issued. Sanuk! Link to comment Share on other sites More sharing options...
buffalo_bill Posted December 23, 2002 Report Share Posted December 23, 2002 Khunsanuk, I always felt sure one day you will be one of the real big developers in Siam. KHUNSANUK NANAPLAZA TOWERS , the highest building all over Northern Thailand. :: All in marble. Apart from this I do desperately recommend to use a lawyer's advise about any kind of property transaction, I did in utmost fascination follow the recent purchase of a piece of land with old building through my ultralongtimegirldfriend. The lawyer cost in the region of 9000 baht and has been a brilliant investment. Against European standards for example the local land registration book does not necessarily show all collaterals . Bbill Link to comment Share on other sites More sharing options...
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