Due Diligence report is usually done to make sure that the property you are looking forward to acquire doesn’t have any hidden liabilities and is legally clear of any unwanted issues. As how many law firms defines Due Diligence, it is the performance of an investigation with a certain standard of care and caution of a property, person or business before involving in an investment or entering into a contract with another party. Due diligence is basically a background check on the property as well as the seller of the property, the report might include Physical Inspection as well as Title Search, Building Permits, and Seller or Developer Credential check. Due Diligence is the performance of an investigation with a certain standard of care and caution of a property, person or business before involving in an investment or entering into a contract with another party.

For a foreigner, there are a lot of provisions in terms of property acquisition in Thailand, some foreigners encounter problems, some don’t, but to avoid any problem in the future or to avoid wasting your money (and time) you must let your lawyer or property consultant run a Due Diligence Report on the Real Estate Property that you are interested. 

 

Table of Contents:

  1. What should the Due Diligence Report include?
  2. Sabai Property Law Firm’s Due Diligence Service
  3. Our Due Diligence Report Service

 

1. What should the Due Diligence Report include?

  • Physical Inspection of the Land (If the development has commenced, we will thoroughly check the land if it is connected to the public/main road)
  • Land boundary check – we will check the accuracy of the land where the property is being built.
  • We will determine the legal ownership of the parcels of land.
  • We will check if the property as well as the developer and or seller followed the land law (local ordinances) and did not violated any legal provisions.
  • Inspection of Building and Construction Permit and Certificates
  • Restriction of the Land use
  • Background check and/or Legal standing check of the seller
  • Developer’s Credential (Financial Capacity, Accomplished Projects etc.)

2. Sabai Property Law Firm’s Due Diligence Service

We understand that as a foreigner, it may be as hard as looking for a needle in a haystack to acquire a property in Thailand. Provided that the kingdom has a lot of provisions and restrictions for foreign investors, we highly suggest that you hire a lawyer or property acquisition specialist to assist you with the real estate matters. Prior to buying a property, one must make sure that it is clear from any financial or legal obligations or liabilities. You must ensure that you will buy a clear state property. One of the major problem here in Thailand is that some properties have some liabilities from the land department, so it is a must to do a Due Diligence report for a property.

Our law firm specializes on Due Diligence report for property acquisition, may it be that the property you are interested with is at Phuket, Pattaya, Hua Hin, Koh Chang or wherever it may be, we can help you. Our lawyers have significant experience when it comes to property acquisition for foreigners, our lawyers will make sure that the Due Diligence report for the property is tailor fit to your demands and desires. Although it is noted that doing a due diligence on property in Thailand is not compulsory or mandatory, it is still a basic step specially for foreign investors, this is also to protect your interest and to have knowledge about the property acquisition matters in Thailand. 

3. Our Due Diligence Report Service

Sabai Property Law Firm is very keen on legal documents such as due diligence report. Our lawyers always make sure that the property is clear of any liabilities and can be positioned under the jurisdiction of the Foreign investor. Our due diligence report covers the following aspects:

  • Title Deed Check
  • Mortgage or Financial Debt/Liability
  • Previous Sale of Property (if any)
  • Background check of the owner/seller of the property
  • Background and Credential check of the developer of the property
  • Location and Zone of the Property Check

Our Due Diligence service is deemed accurate and helpful for our foreign clients as we always make sure to get the specific and exact details about the property, we make sure that our client’s well-being is our top priority.

If you are looking forward to have a property checked, please do not hesitate to contact us.