A bit of a slow learner, but he got it in the end. In a similar vein I got to talking real estate with a gentleman whilst on a hike recently, after he discovered I was a licensee. We were discussing recent sales on a particular street, one of which I participated in, at prices that were close to one million dollars.
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As a consequence, it appears that there is continuing demand for condos in Thailand. Thus buyers ought to be cautious about making condominium purchases and only make irrevocable decisions regarding the purchase of property in Thailand pursuant to appropriate due diligence and sound legal advice. One of the important aspects of Thai real estate purchasing for an alien buyer in Thailand is chanote title.
Such title implies freehold ownership of the underlying real estate. Thus, in order to completely secure one’s rights in a parcel of real estate within the jurisdiction of the Kingdom of Thailand it may prove necessary to obtain a chanote title deed. Some individuals exploring their real estate options in Thailand opt to take a long term lease on a piece of Thai property. Another commonly utilized instrument by alien nationals wishing to enjoy property in Thailand is the usufruct.
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In the jurisprudence of many of the United States the usufruct would be somewhat akin to the future interest commonly referred to as a “life estate”. The person in possession of a usufruct can use the appurtenances of the real estate for a period of time agreed upon by the parties.
He then went on to say he thought that it was a good time to build his own home (???). However, he was having trouble, even in this down-economy, finding a contractor willing to discount his services enough to satisfy his needs. Ultimately, I walked away and, unusually for me, decided not to offer him my business card. I have worked with difficult folks in the past, but as Ron White memorably stated, “You can’t fix stupid!” This article is written for readers interested in finding information regarding property acquisition in the Kingdom of Thailand.
He was asking $269,000 even though a near neighbor with a much nicer home was listed at $249,000. The only fix was to lower the price to a point where a potential buyer could perform the upgrades and be rewarded financially for doing so. He thanked me and I noted that a week later he had reduced the price. Clearly, he did not get it and his friend was not helping him. A month later, however, I noted that he had lowered it to $225,000 and now it was in escrow.