A more widespread use of escrows in Thailand will only be a matter of time. In December last year, the government introduced the first draft on the use of interest bearing escrow accounts for property purchasers.
Condominiums are very popular with most expats and investors in Thailand. The reason being that many foreigners but condominium units in Bangkok, Pattaya, and villa’s in Phuket for the purposes of investment or for their retirement in Thailand. Incoming search terms:Conveyancers
Looking to buy property in Thailand? In some countries, there is a growing trend towards a ‘build then sell’ off-plan system. This involves the buyer putting down a deposit of 10% into a designated escrow account. This account would normally be with the same bank which finances the development.
The face of property development is changing rapidly in Thailand. It has thrived over the years due to many factors including better regulation, better infrastructure, stronger economic growth and the continual growth in tourism, particularly in the high-end spectrum.
The question always come to the fore as to why people need to use a reputable law firm in Thailand when buying any form of real estate, be the property a condominium in Pattaya, Bangkok or Hua Hin or a villa on Phuket island. These the the reasons why! Incoming search terms:transfers in thailand
