How can I buy a property from a developer?

Zire Wongamat Pattaya_Condo (25)

Buying a real estate directly from a developer is as follows:

Choose an apartment and make a deposit. Usually, to reserve this property you need to pay between 20,000 and 100,000 bahts. The amount of the deposit depends on the value of the acquired property. The initial payment is made in cash or by credit card. A few days later, a contract is issued in the name of the buyer. The document specifies the details of the apartment and a further payment schedule is stipulated for completion. It should be noted that the agents do not participate in the conclusion of the contract. The agreement is solely between the seller (the developer) and the buyer.

The document is writtend in English and is legally binding. Many Thai construction companies, for the convenience of customers, can provide a translation in Russian, according to the nationality of the buyer.

Upon cancellation of the signed contract, the previously paid deposit is not refundable.

Subsequent payments are made according to the schedule of payments. Very often, the first payment represents 15-25% of the total value of the property. During the construction phase, 25-50% is payable. And the final payment represents between 25 to 60%. The different percentages are indicated in the contract.
To receive more information about the schedule of payments, please contact us.

Possible additional costs in the primary market:

-The sinking fund is a single payment of about 400-600 baht per sq.m. Payment must be made to get the keys of the apartment.

-The payment of utility services must be made in advance, for 12 months. It represents about 30-40 baht per sq.m. per month. This price includes security, cleaning of common areas, pool cleaning, etc.

-The tax for buyer can represent up to 7% of the total cost.