Condos for Sale Pattaya
Can a foreigner own a condo is his own name in Pattaya?At the moment a foreigner can own a Pattaya condo in his own name, providing the maximum 49% share of foreign ownership has not been reached.
How about buying a Property in a Thai Company Name?This is an option many people take when buying a house as it’s not possible to buy a house in foreign name (as in your name if you’re not a Thai National). The same can apply if you wish to buy a condo that is not available in a foreign name (reached the maximum share percentage).
So what happens is a Thai company is formed and the company owns the house, or condo, a good lawyer can complete this for you within 14 days for an average cost of 25000 baht, remember 1000s of houses and condos are owned by foreigners in this way, it’s not as complicated as people might think.
Can a foreigner obtain a mortgage on a Condo in Pattaya?There are certain companies that offer a selected range of mortgages to foreigners wishing to buy a property in Thailand, a knowledgeable real estate broker should have more details.
One option for foreigners to consider is assisted finance from a developer, this can be up to 70% of the property cost and based over 1-10 years, many developers will offer interest free on 50% of the property value if repaid with 3-5 years, it’s worth discussing with your real estate agent to see what’s available.
Many new developments will allow you to finance over the build period, normally a 20-30% deposit is required and then monthly or quarterly payments during the build period. Some developers will defer the final payment of up to 70% until the project is ready to move in to, again talk to your real estate agent regarding what’s on offer.
The banks will lend money to purchase condos for sale Pattaya, however it is not an easy process and most will ask for you to have a work permit and proof of income to support your application. It may be easier if you have a Thai partner who can show sufficient income to support the loan.
What about the legal fees when buying and selling a condo?There are many excellent and reasonably priced lawyers available in Pattaya. Many people however do not see the need for extensive legal help or even legal help at all, when buying condos for sale Pattaya. Should you wish for assistance when looking to purchase condos for sale in Pattaya, then you will find that prices will vary according to the type of sale, typically costs range from 5000 baht to 35000 baht.
Are there any council taxes or rates to pay?Good news, there are no annual council taxes to pay in Thailand.
What would be the typical utilities charges for a condo?You will find that the average water bill for a condo ranges from 250-500 baht per month. Electricity bills can vary so much, for a typical 3 bedroom condo you could expect it to be anywhere from 500 to 3000 baht per month, it really depends on how much air con you use as that’s the major consumer of electricity in any condo.
The above information is provided as a guide to assist you when you are looking for any Pattaya condos for sale. There may be more information you require, and I’m sure that you will have specific questions that you need answering. Therefore if you are looking for condos for sale Pattaya, in my opinion dealing with a reputable company is the only way to proceed when buying any condo in Pattaya.
Personally I have had dealings with a company called Thailand Property they are located on South Pattaya Road, and when I visited their offices I was welcomed by friendly staff that were extremely knowledgeable when it comes to finding the best condos for sale, and the service that I received was of the highest standard.
If you are interested you can find their website here at www.property-in-pattaya.com
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