“What do you (the agent) get out of helping clients/selling condos?”
As a property consultant (or agent), we partner with developers to market their available properties in exchange for a commission of anywhere from 5 to 10% of the sale price. This commission does not affect the price so what agent you choose to help you find what you’re looking for is a personal decision. Prices are set by the developer and are non-negotiable. Agent commission isn’t paid until a referred sale is complete and paid in full.
Property owners are welcome to list their condominium units, land or other property for sale on our platform and agree to pay Unity Consulting, Co., Ltd. (parent company of Real Property Pattaya) a commission of 7% on any listing that results in a sale. Owners that would like to take advantage of our management services (including property tours, agreement signing, settlement, payment acceptance and documentation services) would need to agree to a commission of 15% on sales of said properties.
“What are the terms of use on your platform?”
Property owners can list any property for which they have the right to sell (or rent) on our platform for free. Real Property Pattaya (RPP) performs as an agency that provides a platform to facilitate sales made between the owner (seller) and the client (buyer). RPP provides this service as intermediary in exchange for a commission calculated from the sale price of the property (7% of total sale price for listings submitted by owners – or – 9% listings created internally by RPP, 15% for RPP managed properties).
By using this service, the owner(s) agree(s) to pay this commission to RPP immediately upon the receipt of transfer of initial security deposit. In the case of rental agreements, RPP will be due (and the owner agrees to pay) a commission in the amount equal to one month’s rent on secured contracts with payment of commission due on receipt of transfer of first month’s rent.
Property owners looking to take advantage of our management services will need to provide a limited power of attorney and a set of keys for access to any buildings or condominium units for use by RPP agents only. Owners will be notified when an agreement with a client has been reached. Thereafter, the owner must then complete our standard Sales & Purchase agreement or Rental contract – a copy of which will be provided to all parties.
“Can a foreigner own property in Thailand?”
Yes and no. Land cannot be directly owned by a foreign national but there are methods used to allow foreign owned companies to carry rights to land as an owner might. How this works will depend on the type of property being bought/sold, current accepted business practices and government policies. You can be certain any property purchase made through Real Property is legitimate, protected by local and international law.
“Are there restrictions on foreigners owning condominium units?”
When purchasing a condo in Thailand, a foreigner can only buy a condominium unit if the foreign ownership in the development has not exceeded 49%. If the foreign ownership quota has been reached or surpassed, the foreigner cannot purchase and own outright a unit of the said development though he may still opt to acquire one through a lease.
An alternate method to surpass this hurdle is to register a Thai company and complete the purchase in the company name, meeting the requirement of “Thai” ownership. The costs of maintaining the company then must be considered so this method is only ideal for property investors who may be interested in owning multiple units to sell/rent for profit.
“Can I get an Elite Visa with my condominium purchase?”
Real Property Pattaya serves as an agent for Once Pattaya, a development that currently offers a Thailand Elite Visa which gives the holder 5 years stay in the Kingdom with an option to extend 1 year. Once the deposit on the purchase cost of the condominium purchase has been paid, the buyer may submit the application for the visa. As long as the buyer meets all the conditions and passes a background check, the visa will be issued in the buyer’s name.
“Can I buy property before entering The Kingdom?”
Yes. Just about anyone can buy property in Thailand and this can be done remotely (allowed in the buyer’s absence) at the time of registration of ownership at the Land Department. However, you have to appoint a lawyer and grant power of attorney to act on your behalf.
“Can I opt for a long term land lease instead of buying?”
Yes. If you lease land for three years or more, you have to register it with the Land Department and pay all associated fees. The maximum duration of a land lease is 30 years, but you can renew it for another 30 years if the owner agrees. To ensure the tenant’s rights, the land title deed should be in possession of the tenant for the duration of such an agreement.
“Should I buy or continue to rent?”
This really depends on your plans for the time you spend in Thailand. If you’re planning to live here permanently and have the financial means to do so, you may want to consider buying a house, condominium or a commercial location with residential space included. If your stay is temporary, then it makes sense to find a place that’s most convenient for your goals in the short run.
“How are the schools in the area?
There are several schools in Chonburi including public, private and international options. Which of these is ideal will be a personal decision but keep this decision in mind before settling on a place to call home. The quality of education provided is comparable to other schools around the country.
“What are the average utility bills?”
This will depend on the type of home you choose and if the rate is determined by the municipality or by the owner. You can expect utilities (water + electricity+ gas) to start around 1,200 baht with no upper limit as the rate is determined by the reading on a meter and thus, it depends on one’s own personal usage. Commercial locations or those housing multiple tenants may see even higher total costs but utilities in Thailand are normally very affordable.