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Buying Property in Thailand: Essential Guide, by Rodney Waller
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“The Essential Guide to Buying Property in Thailand” is the definitive guide for buying resort property in Thailand. The book is packed with page after page of practical advice, insights and tips, covering everything you need to know about the property purchasing process, including essential information to protect your investment. For the unprepared, buying property in Thailand is fraught with hazards and many traps await unsuspecting purchasers. Indeed, purchasers without any knowledge of the issues involved in buying Thai property are virtually guaranteed to be deceived, inappropriately advised or “ripped off” in some way. Buying Property in Thailand is designed to provide the reader with the relevant information and an understanding of the potential challenges that present themselves to property buyers. The book also seeks to share the practical advice and experience of investors and property owners that have already bought property and have learnt the hard way by making mistakes. Here are some of the things you will learn: discover the key to NEGOTIATIONS with property developers; how to SAFELY PAY DEPOSITS and reservation fees; how to PROFESSIONALLY COMPARE potential investments; understand LAND TITLES and key legal ownership concepts; how to PREVENT PROBLEMS by conducting thorough due diligence; how to mitigate the risks of buying OFF-PLAN PROPERTY; WHAT TO LOOK OUT FOR when viewing completed properties; what criteria to use when SELECTING A BUILDER; how to calculate yields and successfully RENT OUT your property. The book is arranged into the following 8 “Steps to Success”: Step 1: What to buy in Thailand? Step 2: Land. Step 3: Buying completed properties. Step 4: Building your own property. Step 5: Off-Plan Property. Step 6: Legal and tax considerations. Step 7: Financial considerations. Step 8: Renting out your property. “Buying Property in Thailand” is essential reading for anyone purchasing resort property in Thailand.
- Sales Rank: #1974981 in Books
- Published on: 2012-01-01
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x 1.26" w x 6.00" l, 1.63 pounds
- Binding: Paperback
- 558 pages
Most helpful customer reviews
3 of 3 people found the following review helpful.
Do Not Buy This Book...AT YOUR PERIL!
By Chef Dom aka The MangoMonkey
I was looking for books of how to sell my house on Koh Samui and what the present ramifications of selling and re-buying in another area.
While searching I ran across this and another book I already own and thought the author deserved to get a few more positive words about a truly "essential guide".
THIS IS PRETTY MUCH A STEP BY STEP GUIDE OF HOW TO BUY IN THAILAND.
I wish this books existed when I bought my property 15 years ago.
(yes I own, yes there is an Amity Treaty, but you have to be American and own an American company doing business in Thailand)
I've read many of books on the subjects of living, working and buying property in Thailand.
Many glance over a little of everything in their books not realizing the readers, whom are only human and lazy by nature will think the book will do the additional research and work for them.
I bought this book almost a year ago at a bookseller in Bangkok while travelling.
I love that it pretty much focuses on all of the key points in the process of owning, renting, leasing, etc. real estate and businesses in Thailand.
If you are really thinking of spending thousands, maybe millions investing in Thai properties, the $27+/- is cheaper than any legal advice you will get even at Thai prices.
I spent almost $4,000 in legal fees by the time it was all said and done...at Thai attorney prices which would have cost me $40-$50k in the US by attorneys reading the volumes of documents, required 'due diligence' I required, government filings, contracts, etc.
BTW... REMEMBER... This book is not a legal document... only a point of reference.
Think of this book as the first step to your 'awakening'.
In Thailand, OTHER THAN THAI PEOPLE, ONLY Americans CAN own land in Thailand according to the "American-Thai Amity Treaty of 1966", provided you jump through the hoops at set forth.
I have OWNED (not leased or rented) land in Thailand for over 15 years now (without a Thai wife or Thai partner... which is the ONLY REAL WAY to ensuring no additional problems).
This is the ONLY way I recommend owning land in Thailand.
You can do it as a 'sole-proprietor', 100% American owned business or majority (own 51% or greater-controlling interest) in an American-Thai business.
Thinking that you are being clever 'beating the system' by going through your 'Thai wife', Thai partners', etc. is just revealing ignorance that is outright stupid and can be dangerous to the point of lethal.
I've read the book and for the $25 (I paid 600 THB in Bangkok) it is a cheap source of important information, but you must remember it is not a legally binding document.
In Thailand, even documents that have appeared to be 'legally binding' turned out to be nothing more than words written in Thai and/or English on a piece of paper not recognized by anyone. Mostly due again to the ignorance, greed and sometimes desperation of the farang/foreigner to live in the "Land of Smiles".
The Thai Government has very reasonable laws that if followed will provide the same protections as most other industrialized nations.
However, you must be 100% sure you have filed the right papers, with the right authorities until you receive the right authorization. Which is where 99.999% of failures begin, with fraudulent/counterfeit documents, legal paperwork left/entrusted to a Thai person you think you can trust and many times only recently met, not knowing the language or culture or having the ability to read the documents to know whether or not they state what you think you are agreeing to and are in fact REAL.
The "caveat emptor" or "buyer beware" often overlooked is what gets people in trouble.
Thailand is not different to most countries and has no shortage of scams compared to the USA, UK, EU countries, Japan, etc.
It is the disarming friendliness of the Thai people and even the criminals that cause people to get into some real trouble because of their ignorance, laziness from doing what ONLY they should do.
FACT: Police reports and via polls of victims indicate that scams in Thailand are perpetrated over 57% by other foreigners in Thailand. Which means in your eagerness to want to trust a 'fellow countryman' and drop your caveat emptor to 'one of your own' relinquishing your obligations to yet another 'stranger' you hardly know will lead you down the "Path to Perdition' not only in Thailand, but anywhere.
Buy the book, research the links I've provided and DO YOUR OWN HOMEWORK AND WORK, find a good attorney (a book should be written on this), honest accountant (ditto), enjoy all you do have in this life knowing it is all temporary.
Otherwise, it's like working 50 years to make millions of dollars, then asking someone making minimum wage whom you've never met to take the bag of money to the bank for you....AND THEN GET UPSET... when it vanishes with the stranger.
Here are places that provide some facts for you to start:
http://en.wikipedia.org/wiki/Treaty_of_Amity_and_Economic_Relations_(Thailand%E2%80%93United_States)
http://bangkok.usembassy.gov/relation/175usth/timeline-of-u/spotlight-on-treaty-of-amity.html
http://www.siam-legal.com/Business-in-Thailand/US-Thai%20Amity.php
http://export.gov/thailand/treatyofamity/index.asp
BUT I BET YOU ALL HAVE ALREADY DONE THIS HOMEWORK...HUH?! ;)
3 of 4 people found the following review helpful.
Highly Recommended
By tbc122
This book has absolutely everything you need to know about buying property
in Thailand and some excellent recommendations and advice. The "important
tips" alone could save you a lot of money and hassles. It has changed my
approach to buying property. I will certainly be taking this book with me
on my next trip! Highly recommended.
0 of 0 people found the following review helpful.
An essential guide to the property game in Thailand
By G&N
I would thoroughly recommend this book to everybody as it has proved to be an excellent companion with plenty of useful information. The author conveys his knowledge in an manner that is easy to read, clearly explained, and above all practical for any type of property investment in this region.
The book is an informative practical guide to buying property in Thailand. Do not attempt anything before you read this book as it will save you time and money. It is packed with essential details that you would not think you needed until you got there.
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