If you want to sell a Thailand property, you need to decide whether you need any professional help from a real estate agent. A real estate agent helps in finding a local or international buyer sooner for your property. Legal advice is necessary to avoid disputes later. They have access to the market to get you some potential buyers, which helps save your time. They also assist you in getting the best price for your property by negotiating and providing valuable suggestions. Thailand’s real estate agents charge their service commission up to 3% of the property’s purchase price.
- Advertising the property –
You need to advertise your property irrespective of whether you are using a broker or not. Don’t sign any contract for an unlimited period if you hire an agent and ensure to reserve the right to sell the property yourself. You can advertise your property by listing on online websites for properties with a wide reach and getting you more exposure. Listing your property is much better than hanging a board of ‘For Sale’ in front of the property to get potential buyers since you can provide high-quality pictures to garner the attention of buyers and make it stand out.
- Purchase contract –
You must mention appliances, furnishings, and other things included with the property in the purchase contract. A purchase contract prepared by either seller, buyer, or agent should be signed once parties reach an agreement after negotiating the terms. You must include all items, the agreed price related to the sake in your purchase contract wiry the prospective buyer. Tre is a general principle retained in Thai laws about freedom of contract, so the parties have the freedom to include any agreement in the coming tract unless it voids the law or is against public morals. You must conclude in the contract about any debts/ liens if you have on your property. Open and full disclosure of all physical items of the saleable property in the contract helps to prevent the occurrence of potential problems later, although there isn’t any legislative requirement to make so.
- Setting the right price –
You need to set an idea of the price you should charge for selling a condominium. For selling property in Thailand, setting the right asking price is important. You can take the help of agents to set the price or work with any appraisal firm to evaluate your property. Observe the recent houses for sale in Thailand to get an idea. Setting a reserve price aside is important to ensure the minimum price you need to accept from buyers.
- Close the deal –
After reaching an agreement and signing the purchase contract, both the seller and buyer must close the deal around the real estate office for signing the required documents and visiting the office of the local land department.
Make your property sell quickly
- Before advertising finish all the repair works
- Vacant property must be cleaned regularly. Lawns and gardens must be trimmed regularly.
- Don’t set the property price above the market rate and charge a realistic price
- Drafting a sale/purchase agreement is necessary before selling
- Make all necessary documents related to property accessible.