Tag Archive: phuket

  1. Buying a House in Thailand – Handover Checklist

    Comments Off on Buying a House in Thailand – Handover Checklist

    When the owner of residential property changes, the last step after the visit to the land office and the receipt of the money is crucial: the handover of the keys; after this, the previous owner moves out, and the buyer moves in. At this point, all documents are handed over, a joint tour of the house is made, and meter readings and defects are noted. It makes sense to draw up a protocol for the handover of possession so that the sale of the house does not have any repercussions. We have summarized what you should pay attention to, based on our experience, in the house handover protocol.

    Summary of the most important things to remember in a handover:

    As with a condominium, a house is handed over at an agreed time after the purchase contract has been signed, usually only after the money has been received.

    The handover occurs under the agreed conditions, typically in a “bought as seen” condition.

    Before the keys are handed over, the buyer and seller tour the property together.

    Defects are noted in the handover protocol, including the “to do” list, who will take care of these, and by what date.

    It also lists all the previous owner’s documents to be handed over to the new owner.

    The handover protocol may also be referred to as the takeover protocol, as meter readings are recorded, and it is noted which inventory/furniture is being taken over.

    The buyer and seller sign the handover protocol, and witnesses present also sign if necessary.

    The goal of a handover protocol for a house or condominium is a smooth transition without legal disputes. It protects both sides: for example, the buyer can claim unlisted, missing, or required documents from the seller. If defects occur after the handover, which the seller neither concealed nor is responsible for, he does not have to pay for these to be resolved.

    What should be included in a house handover protocol?

    A good handover protocol checklist includes:

    1. Names and contact details of the parties
    2. Time of the inspection
    3. Property data (address, last renovation, service charges paid until)
    4. Meter readings (heating, electricity, water meters)
    5. Furniture/inventory per room
    6. Defects – including the basement, attic, garage, outdoor areas such as the garden, etc. Examples include a crack on a wall, a leaking roof, and faucets not working. A record is taken of who will remove the defects, by when, and at whose expense.
    1. Repairs that have already been ordered or are still being paid for by the previous owner.
    2. The number of keys from the mailbox to the tool shed.
    3. A list of the documents handed over.

      Of particular importance are:

    • Building description
    • Building plans, floor plans, sketches, and static calculations
    • Building insurance
    • Property tax assessment
    • Craftsmen’s invoices (especially relatively recent, larger ones)
    • Inspection records (especially fireplace inspections by the chimney sweep)
    • Operating manuals for building services/heating etc.
    • In the case of condominiums, the minutes of the last three owners’ meetings and the declaration of division should also be included.
    • Place, date, and signature of all who are present*.
    • *Optional: If witnesses accompany you during the handover, name them in the handover protocol and have them sign.

    For more information about our real estate services please visit www.franklegaltax.com/services/real-estate/
    If you have any questions related to property transfers or real estate in Thailand, please contact [email protected]

    Fabian, a founding partner of FRANK Legal & Tax, is a German-trained lawyer with expertise in corporate/commercial and real estate law, and litigation, and has been living and working in Thailand since 2005.

  2. Phuket Residential Property Market – Updates

    Comments Off on Phuket Residential Property Market – Updates

    Looking at the period January to June 2017, Ninety percent of Phuket resort property purchases were in the range of THB 5-35 M per unit for villas and THB 8 M or under for condominiums. Investors are looking for rental yields of between 5-7% over the course of two to five years.

    Expatriates from across the region and Thai nationals typically based in Bangkok are the main purchasers of Phuket’s resort properties. The Rouble has appreciated against the Thai Baht, which has also attracted interest in Phuket property from the Russian property investor’s market. There were also Chinese investors in certain entry-level projects. sales came from buyers who bought multiple units, buying at bulk prices and hoping to resell.

    Phuket Residential Property Market

    The priority for property buyers continues to be on rental income as typically investment properties in Phuket are stayed in for 60 days or less per annum. Potential property purchasers should examine the practicality of rental guarantees and other rental packages before making a decision.

    If you would like further information on the process of buying a property in Phuket or elsewhere in Thailand, please contact [email protected]


  3. Two Months Deadline For Unlicensed Hotel In Phuket

    Comments Off on Two Months Deadline For Unlicensed Hotel In Phuket

    Unlicensed hotel in Phuket were given a deadline to do the required registrations before 31st January 2017 by Chokchai Dejamornthan, Phuket Governor. If they do not comply, owners may have to confront legal action.
    Mr. Chokchai also said that according to Provincial Administration’s information there are only 424 licensed hotels in Phuket while an estimation of 1,366 illegal hotels are currently under operation. The Phuket Provincial Administration gives an opportunity for unlicensed hotels to submit application together with the supporting documents at district office within 2 months. After expiration of this deadline, such hotels will be closed by Phuket Provincial Administration.
    During a public meeting with government officials it was announced that the crackdown would be starting from 1st December 2016. The main targets are residential properties such as apartments or condominiums who rent out daily accommodations for tourists and the main reason is due to the high increase of rentals through AirBnB.

  4. Demolition orders issued to 78 more Phuket beach encroachers

    Comments Off on Demolition orders issued to 78 more Phuket beach encroachers

    Officials yesterday morning (June 23) visited Bangtao and Laypang beaches, issuing 78 businesses with demolition orders on the grounds that their structures are on public land.

    But before they started posting the orders in each of the properties, Ma’an Samran, chief executive of Cherng Talay OrBorTor and his deputy, Siri Yokthong, went with Pipop Sutkhao, Deputy District Officer from Thalang, Thammarong Chuayaksorn, Deputy District Officer from Muang District and about 30 Territorial Defense Volunteers to Surin Beach to check on progress.

    “Right now 90 percent of the [area to the west of the footpath] is cleared. We have a truck and an excavator from OrBorTor Cherng Talay to help people to dig out concrete,” Mr. Thammarong said. “In the future, there will be no beach chairs or massage beds on this beach. People cannot take advantage of public land anymore. Thalang Deputy District Officer, Mr. Pipop told The Phuket News that Surin Beach is now a beach for everyone.

    North of Surin Beach, businesses encroaching on public land on Bang Tao and Lay Pang beaches – and in some cases actually on the beach – were handed orders telling them to rip down their structures and restore nature within 30 days, or face legal action.

    Among places that must be partially or completely demolished are Lotus Restaurant and Babylon Beach Club, along with many wooden-pile restaurants at the water’s edge.

    Source: Phuket News  (See more…)

  5. FRANK Legal & Tax joins International Business Association Phuket (IBAP)

    Comments Off on FRANK Legal & Tax joins International Business Association Phuket (IBAP)

    We are proud to announce that FRANK Legal & Tax Ltd. is now a member of the International Business Association Phuket (IBAP).

    Our lawyers have been working with IBAP and attending their monthly events for many years, and we are happy to now be member again with the new outfit FRANK Legal & Tax.