Selling a Property in Pattaya - Information and advice about Selling property in Pattaya, Thailand

Before selling your property there is some basic issues that should be considered to ensure that the sale process goes according to plan. The following suggestions may assist you in planning you’re the sale of your house, condominium, land or business in Pattaya.

Making the decision to sell your property
Calculating a Sale Price
Appointing a Real Estate Agent or Broker

Making the decision to sell your property

Before any action is taken the seller should be adamant that they comfortable with the decision to sell. Any issues with ownership or the allocation of the sale funds should be levelled, especially if the property is co-owned or is involved with any marital issues.

Calculating a Sale Price

Determining a suitable sale price is critical to any successful transaction. When calculating a figure, the seller should take into consideration various issues that may affect the final “Net” gains from the sale.

Considerations:

Agent’s fees and commissions (normally 3-10%)
Tax and Transfer fees
Lawyers and Administration fees
Private advertising (if any)
Current exchange rates and economic situation
Competing properties in the immediate area
What was the original purchase price?
How much was spent on renovating or furnishing the property?
What would be the minimum amount that would make it worthwhile to sell?

If the seller intendeds on marketing a property with various agents the sale price should be the same regardless of variations commission rates. In general a shrewd buyer will beware that an agent that charges less commission will allow a seller to drop the sale price without compromising the target gains.

Evaluation aids and Appraisals:

Real Estate Agent
Independent Appraisal provider
Market comparisons
Alternative opinions

A real estate agent will be able to assist you with selecting an optimal sale price however to obtain an official valuation many considerations have to be assessed. An Independent Appraisal Provider (such as the Thai Appraisal Foundation or Agency for Real Estate Affairs) would be able to provide an equitable report on the current value of the property. It should be noted that the official valuation may differ from the actual market value as “Government Rate” are somewhat less than retail prices.

Appointing a Real Estate Agent or Broker

Selecting a Real Estate Agent or Company to promote your property is fundamentally the most effective way of finding a buyer. As your representative the agent should be able to assist you with the intricate process of selling a property and ensuring that the relevant documentation is processed correctly.

Why should you use the services of an Agent?

A property is often a personal most valuable asset and is more often than not purchased as an investment for the future. The experience and support that an Agent can offer may be curtail in realizing the full potential of your investment. A Real Estate Agent can offer you various benefits, including:

Access to a network of potential buyers
Multi Listing Services with other Agents both in Thailand and Overseas
Online listings on a High Ranking website
Assistance on designating an optimal sale price
Ideas on presenting your property to a potential buyer
Saving you time by filtering out timewasters and locating serious buyers
Assisting in the negotiating process and keeping the deal moving
Acting as a 3rd party holder of funds/deposits and to offer protection when handling payments
Ensuring that all administration and legal documents are processed correctly
Liaison with the local land office Government agencies
Able to act as the property owner’s legal representative if he or she is unable to be present

Selling your Property in Pattaya