Buying and selling property in Thailand is a process that needs to be handled carefully. One of the best ways to avoid any legal pitfalls is to have a contract reviewed by a legal expert. This will allow you to make sure you are getting the best deal possible. It will also help protect your interests in case you encounter any legal problems. Having a contract reviewed by a lawyer is especially important for foreign buyers. They may not be familiar with the Thai language or have all of the laws and regulations in place.
A lawyer will be able to find out if the contract is fair and accurate, and will be able to determine if the contract is a good deal. They can also check to see if any permits are required to purchase or sell the property. This can help you avoid any problems with the government. In addition, a lawyer will be able to make sure that the property is listed properly and that you are not buying a sham.
The contract should also contain a payment schedule. This will set deadlines for payments and penalties for late payments. It should also give you the right to pass on the investment in the event that you are unable to make the payments. It is important to pay close attention to this because if you are unable to make the payments on time, you may end up losing your investment.
The contract should also be drafted to ensure that both parties are getting a good deal. A lawyer can provide you with sample contracts so that you can see how the legal process works. They can also help you negotiate any changes you may need to make to the contract.
Another thing to consider is whether the contract contains ambiguous clauses. If the clauses are ambiguous, they can lead to disputes. A lawyer can be able to find out if the ambiguities are intentional or just a coincidence. A lawyer will also be able to find out if the clauses are valid and are not being used to defraud the buyer. This is important because if the clauses are ambiguous, they may be used against the buyer in the event that a dispute arises.
It is also important to find out how much money is owed for each stage of the construction process. This will allow you to know exactly how much you will have to pay in order to purchase the property. You should also pay close attention to any responsibilities that you will have for the property. These are also important parts of the contract. You should also be able to know if you will be required to pay any mortgage against the property.
The contract should also contain a title deed that is valid. This is a legal document that must be approved by the Land Department. It must also match the property information provided in the sales contract. In addition, the title deed must comply with all environmental regulations.