Choosing a Property in Pattaya
Below you will find a few important points worth noting!Buying a property in Pattaya doesn’t have to be a complex matter. Certainly it can be made a lot less troublesome if you have your finances and documentation prepared in advance. The whole process can be made easier by using the services of good Pattaya real estate agents.
Important documents requiredYou should be aware that when you bring funds from another country, it is vital that you have documentation showing the funds have arrived into Thailand from that country. The document you need is called a T.T.T.3 form, this document states that the money has arrived in Thailand and is for the purpose of buying a property in Thailand.
This document is important and is also needed should you sell the property. It is worth noting that although the proceeds from the sale of the property can all be returned back to the country where they came from, under Thai law you will be required to pay tax on any profits that you made arising from the sale of your property in Pattaya.
Purchasing a Condo in PattayaThe vast majority of people who purchase a property in Pattaya usually tend to go for one of the many condo units that are available in and around Pattaya. However it is worth noting that although you can buy a condo in a foreign name (your own name) the purchase must not contravene the criteria determined by Thai law. Currently the law states that the total foreign ownership of any condo block cannot exceed 49% of the property, meaning that the remaining 51% must be owned either in a Thai persons name or by a Thai company.
So if you find a condo for sale in Pattaya that you wish to purchase but the foreign ownership has already been sold out, there is still a way to become an owner, and this can be achieved by forming a company conforming to Thai Law. This is not an expensive process and there are numerous lawyers in Pattaya who can provide you with such a service, costs should typically not exceed 30,000 baht.
You should also check what the maintenance fees for the condo are. These are usually calculated using an amount per square metre and can vary from 20-50 baht per sq metre per month. Just multiply the amount by the total sq metres of the actual condo unit.
Also you should check out if you are required to pay a sinking fund fee, this is normally a one-time payment made upon transferring ownership, and ensures that the building is well maintained, this information will establish the total cost of your property in Pattaya, and ensure you are not surprised with hidden costs at a later date.
If you are interested in buying a condo then take a look at this condos for sale Pattaya page, it will give you even more information you can use before making that final decision to purchase your perfect condo unit.
Purchasing a house in PattayaIf you are thinking about purchasing a house in Pattaya then be aware that it is not possible for a foreigner to own land in Thailand in their own name. There are however various ways to legally purchase a house, you should take a look here house for sale Pattaya. This page will give you more specific advice about houses and the best way to proceed with any purchase.
FinallyWhen it comes to making those all important decisions about any property in Pattaya, the best advice I can give anyone is to enlist the services of an excellent real estate broker. There are so many Pattaya real estate brokers around, however you do need one that you can trust when dealing with the purchase or sale of your property in Pattaya.
Personally I have used the services of an excellent company that are located on South Pattaya Road. This company is Thailand properties and should you wish to visit their website, then you will find it here at www.property-in-pattaya.com
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