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Putting Down a Deposit on a Thai Property Purchase

Transcript of the above video:

As the title of this video suggests, we are discussing deposits on Thai property purchases or perhaps it is best to say prospective Thai property purchases. What are we talking about here? Well often times we will see this situation where folks are looking to buy property in Thailand, be it a condo, certain situations depending on the circumstances, that might be real estate like a house; it might even be commercial real estate like a commercial condominium; it might be something akin to commercial space; it could be just vacant land, the issue of a deposit will oftentimes arise.  

I often find this comes up most often where we see someone who has oftentimes gotten themselves into a situation where they paid a deposit without fully doing their due diligence and they are trying to get it back. Unfortunately, in a lot of those circumstances, that may be more difficult if not impossible than that person would like. 

Long story short is due diligence plays a big part with respect to deposits. It is probably not a terrible idea to contact a legal professional here in Thailand before making a deposit on a given property as doing so may forestall or mitigate financial loss associated with the deposit with somebody who may not be reputable. Again, doing the due diligence on a given property and possibly a given broker may be a good idea before making any deposit and again, it may be a good idea to contact a legal professional in order to assist in doing so.