Selling Leasehold and Off-Plan

Not every sale is a straightforward transfer of freehold title. Two situations come up often enough in Phuket to plan for specifically.

Selling a leasehold interest

What you are selling is the remaining term of a registered lease, and its value falls as that term shortens. Buyers and their lawyers look closely at the years left, at what any renewal clause actually obliges the landowner to do, and at whether the lease is registered at the Land Office rather than merely contractual.

Consent and assignment

Most leases require the landowner to consent to an assignment, and some charge a fee for it. Establish the position and obtain consent in principle before marketing, because discovering a restriction after agreeing a price is a bad moment.

Selling before completion

Reselling an off-plan unit before handover means assigning your contract with the developer to another buyer. Almost every developer contract governs this, often requiring consent, a transfer fee, and sometimes a minimum percentage of instalments already paid.

The practical constraint

You are also competing with the developer, who is still selling similar units in the same project, usually with incentives and no urgency. Price accordingly, and be realistic about how long it takes.

Get it reviewed

Both cases turn on the wording of a specific contract. Have it read by an independent lawyer before you list.