Just because you may have been successful investing in residential real estate, that in no way means that you will be successful when dealing in Thailand real estate. There are simply too many differences. To make sure you’re properly informed on Bangkok property, check out this collection of tips and read them carefully.
Invest some time in learning about how the Koh Samui real estate market works. Read some books or online resources to find out the best ways to go about investing your money into your future home. This will help you with the lending, selling and purchasing aspect of the real estate market.
Make sure all details are finalized. After you have signed a real estate contract, be sure to stay in touch with your lender and real estate agent. A good realtor will go through everything that you need to have in place before settlement. Make sure that you have proper insurance and have figured out whether your real estate tax will be included in the mortgage payment, or you if you need to pay it separately.
If your future rental property in Pattaya or apartment complex allows you to host a yard sale or garage sale, ask them if you’re allowed to post your signs within the complex such as light poles or tree stumps. Some property managements do not allow the display of any sort of advertisements publicly.
Even though your broker has all of the connections and the know-how, make sure that you find one that is still going to allow you to be in control. In the end, you are the one that is going to be dealing with the property, so you should have the most control over the situation.
In order to protect yourself, make sure that the agreement that you and your broker decide on is put in writing. Add some conditions to it that will allow you to terminate them within five to ten days with a written notice if they are not doing their job well.
Don’t accept the very first value you are offered. Almost all prices or bids have taken into account the fact that the other party will be interested in negotiation. Even if they have initially said they are not interested in negotiations you should be willing to try. Most likely that was just a strategy suggested by the opposing agent.
Do not let your emotions take away from your logical focus. You are buying homes to resell them, and should not allow yourself to develop an emotional attachment. If you feel that you are getting to attached to a house you are interested in purchasing, take a step back and ask yourself if this house is really worth the money.
If you are thinking of selling off a large parcel of Thailand real estate you might want to think about breaking it up into smaller pieces. Often smaller plots sell at higher prices per square foot. Also, offering smaller, more manageable pieces of real estate may expand the pool of potential buyers for your property.
Utilize an agent or broker to ensure documentation and legalization is correct. There are several documents and a great deal of legal work that has to be put into obtaining Thailand real estate. It is much easier when you have a qualified agent or broker to assist with these steps.
Reading and understanding the collection of tips contained in the above article, is your first step to succeeding with Thailand real estate. The next step, of course, is to put this knowledge to action and make calculated moves to ensure that you succeed instead of fail. This article can get you started, but you have to finish.