Buying Guide
The Buying Process
Buying property in Phuket as a foreign buyer follows a fairly predictable sequence of steps. Knowing the roadmap in advance makes the whole experience far less stressful.
1. Search and Shortlist
You start by defining your budget, location preferences, and purpose (holiday home, rental investment, or relocation), then viewing properties in person or virtually with the help of an agent who knows the local market.
2. Reserve the Property
Once you find the right property, a reservation agreement is typically signed along with a reservation deposit, which takes the property off the market while due diligence and contract negotiation proceed.
3. Due Diligence
Your lawyer checks the title deed, confirms the seller’s legal right to sell, reviews any existing mortgage or encumbrance on the property, and, for off-plan purchases, examines the developer’s permits and track record.
4. Sale and Purchase Agreement
A formal contract is drafted setting out the price, payment schedule, completion date, and the responsibilities of each party. This is the point where the ownership structure (freehold or leasehold) is documented in detail.
5. Payments
Funds are transferred according to the agreed schedule. For freehold purchases, foreign buyers generally need to bring funds into Thailand from abroad in foreign currency, which is later documented for the Land Office transfer.
6. Transfer of Ownership
On completion day, both parties (or their authorised representatives) attend the Land Office to complete the transfer, pay the applicable transfer taxes and fees, and register the new ownership or lease.
7. Handover
Keys, utility accounts, and any furniture or fittings included in the sale are handed over, and you officially become the owner or leaseholder of your Phuket property.
Every transaction has its own nuances, and timelines vary depending on the property and financing involved. The Anan Property Group team is here to guide you through each stage and coordinate with your lawyer so nothing gets missed.