Information Resources for Sellers
How to market your condo for sale on Pattaya's leading condos for sale website
If you've decided to sell your condo, then you're in the right place, The Pattaya Condo Guide is the best and most comprehensive source of condos for sale in Pattaya and Jomtien, and so attracts hundreds of buyers every day. In addition to advertising your condo for sale, this website can guide you through the 'selling process' in Thailand and help you to get a satisfactory result.
The sales route
Having decided to sell your condo, which route do you take? To go it alone or through a real estate agent? Although the individual approach may appear cheaper, don’t be misled, you will rarely have the resources or time available to a real estate agent to find and vet serious buyers or market the condo and the agent’s 3% commission is normally money well spent. If you haven’t already got an agent in mind, download our Questionnaire For Real Estate Agents, so you have a checklist when you evaluate potential agents. He or she, once you have established a good and friendly working relationship, can be a godsend, helping you fix a realistic selling price, thus saving you an appraisal or survey fee, aid with negotiations, provide useful guidance and hopefully get you the best price. The Pattaya Condo Guide can also give you a realistic idea of the market selling prices as all our condo listings quote sales prices. All you have to do is browse through our comprehensive directory.
Don’t forget to do your due diligence, though, for your own peace of mind and to impress agent and buyer alike. This will also ensure your agent doesn’t inflate the price. Give your agent a key so they can bring as many prospective buyers as possible for a showing, and allow you to vacate the condo, temporarily, rather than disconcertedly dogging their footsteps and constantly looking over their shoulders, which can be really off-putting and hinder the agent’s presentation.
Your legal documentation
To facilitate the sale of your property, one of the first necessary steps is to ensure all your legal documents are readily available, correct and up to date. If you don’t already have a lawyer, ask colleagues or friends for recommendations of reliable lawyers, or if you are selling via a real estate agent, he can suggest one. As with real estate agents, don’t assume that merely because the individual calls himself a lawyer that he is bona fide, check out his credentials as you would an agent as part of your due diligence. Give all your documentation to the lawyer to check, particularly the certificate of ownership or title deed. If there are any anomalies to do with the title deed, such as extra names having been added, like present or ex-spouses, renters with contracts over 3 years, banks etc., this must be clarified and your legal ownership established by the lawyer to ensure there are no handicaps to a smooth transfer later.
Sale and Purchase Agreement considerations
The next imperative is to have a Sale and Purchase Agreement. Because there are no standard official versions of this in Thailand, we have provided a comprehensive downloadable example for your use, which can be changed or edited with the help of your lawyer. Paragraph 7, the one relating to suing for breach of contract, is vitally important. When trying to establish a sum to charge for breach or default, a rough cost guideline is the difference between the current market value and that at the time of the signing of the contract, plus consequential damages, such as advertising and legal fees, rental and removal costs. However, because of the inordinate amount of time taken to sue through the Thai courts, you could negotiate a fixed sum with your buyer at contract signing time. Another vital consideration, largely because it establishes trust, is transparency, make sure you disclose in the contract all faults with the property or debts owing. And don’t forget inducements to buy as that extra factor which may well clinch the deal.
- SELLING OVERVIEW - The Selling Process
- Detailed Information on Selling Matters