FAQ

Thailand – a good place to buy

Thousands of expats have moved to Pattaya over the years. Thailand is one of the more organised South East Asia countries when it comes to the possibility of living abroad and purchasing a home. Much of this is due to the constant flow of westerners into the country since the 1960’s. It is possible to stay here on a work permit, a retirement visa and several other visas.

There are some strict guidelines one needs to follow in order to buy a property in Thailand and these are outlined here. CLICK HERE FOR MORE INFORMATION

First things first

When you have made the decision to buy a property there are many things to consider:

What is your budget? Do you want a house or a condo? Do you intend to rely on public transport or will you have your own vehicle? Do you want a swimming pool? How many bedrooms and bathrooms? Do you wish to have a pet? Are there local amenities nearby? There are 100 more questions you must consider in order to find the right property. One of the most important questions is WHERE do you want to be? Pattaya covers a vast area, generally getting progressively cheaper the further you are away from the water. Here at Cornerstone Real Estate we can help you complete your wish list and narrow down the best areas for you.

Another big consideration is your time frame. Property purchases in Pattaya can be completed from start to finish within a couple of weeks but can take longer depending on the situation for the buyer and seller.

Your budget should also account for government charges like transfer taxes, stamp duty and additional legal expenses such as a lawyer’s legal fees for representation and professional inspection costs.

pattayapropertysales.com highlighting properties that you are interested in. We can help answer questions about public transport in a particular area, supermarkets, shopping options, local Thai markets, restaurants, village/condo history etc. Perhaps we will be able to offer further information that might make a property more or less attractive to you.

A smart prospective buyer with time on their hands will spend time driving around an area of interest at different times of the day. Find out whether the area does meet your hopes and expectations, and that there isn’t a Thai karaoke bar next door that stays open until 3 am!

Once we have managed to qualify your search criteria we can suggest various properties to you. If you are in agreement with the selection we will then organise a convenient time to go and view the properties. We will drive you to each of the properties and answer all your questions where possible, hoping of course that we find the perfect property for you. Ensure you have a printed set of property details for each property so that you can remember the positives and negatives of each. Bring a pen, make notes!

Offer

Once you have decided on your dream home it is possible to make an offer and even negotiate the price to secure the property for yourself. At this point a good real estate agent is invaluable. Of course it is in the best interests of the agent to agree a price; otherwise the agent won’t get paid. That said the agent must work to negotiate a price that is acceptable to both parties, so that both are keen to move forward.

If the buyer is unsure about the structural quality of a property they may wish to have an inspection carried out by a builder or engineer. If the outcome of this will have a bearing on the offer then any engineer report from the survey needs to be in writing, and it needs to be added into the contract.

It’s not always about the money.

Of course buyers and sellers both want to feel they have struck a good financial deal but there is much more to an agreeable sale/purchase than money alone. Working towards one party’s time frame could be of huge value. Certain pieces of furniture and electrical appliances are costly to replace for some people, so can be invaluable to one of the parties. Money can also be saved by writing certain clauses into the contract to ensure that the owner makes good some repair works for example.

Buying/Selling contract

Once the price and completion dates have been agreed upon by the buyer and seller then a sales and purchase agreement needs to be signed. This will specify the parties involved, the agreed price of the property, and outline information about any furnishings that may be left behind.

Make sure you understand what you are signing.

We have an easy to understand contract which our agents will guide you through so that you fully understand everything that is happening.

Deposit

It is at this point of contract signing that the buyer needs to pay a deposit in order to secure the deal, and remove the property from the market. The value of this deposit can vary depending on terms, but it is generally about 10% of the sale price. This deposit is normally held by the agent or a lawyer, and in some circumstances the seller, Once the contract has been signed by both parties it is legally binding, so should the buyer or seller need to withdraw from the sale/purchase for any reason, then that party is legally bound to compensate the other to the value of the deposit.

In order for the legal sale of a property to happen various documents will need to be gathered by the seller’s legal representative. These include Title Deeds, house books, building permits, and possible Thai company documents (depending on how the property is currently owned). These documents can then be checked to ensure that the seller is legally allowed to sell the property and that there aren’t any debts against the property.

Transfer Process/Move day

When the transfer date arrives your legal representative will accompany you to the Land Department where the title deed (or Thai company shares) will be transferred into your name. It is at this point that all property transfer fees, and property taxes will need to be paid, and it is also the time that the balance of monies due will be paid to the seller to complete the transfer.

Congratulations – you are now a proud home owner.

For whatever reason, at some point during your stay you may well decide to sell your home. It could be for financial reasons, or because you are upsizing or downsizing, moving to a different part of Thailand, the list goes on. Whatever the reason you will need an agent.

Agents

Agents will generally charge a 5% commission fee on the final sales price. This has been the standard for many years here in Pattaya. For this fee you should receive value for money so always check what an agent will do for their money. Agents will market your property, discuss SOLD prices in your area, bring prospective purchasers around to view your home, negotiate on your behalf, attend the land office with you if required, and see the process through from the beginning to end. If the agent makes it all look like easy work then it is probably because the agent is well organised and professional. At the end of the day your ultimate goal is to sell your property with as little fuss as possible.

Realtors/Real estate agents/estate agents

There are hundreds of agents in Pattaya, which is the land of the entrepreneur, with many people trying their hand at careers they know nothing about. You need to be looking at the agents that are well established, with excellent reputations, or for those that have worked for these companies and gone off on their own (Eg: Paradise Key Pattaya).

Valuation

The biggest question when selling your property is regarding the value of it. How much will it sell for? Do not rely on advise from someone who you met last week that used to live close to your village that sold something “similar” 3 years ago for 5,000,000 Baht. Times change, currency values fluctuate, the condition of properties varies and some people lie to make their side of the story sound better!

The only way to understand the true value of your property in the current market is to get several independent valuations carried out by established real estate agents. Their experience in what has SOLD in your condo or village is what you need to understand.

There are many properties that can sit on the market for a long time, sometimes years. This is generally due to the asking price being too much for the condition it is in. You might not like what the realtor has to say about the value of your property, but that doesn’t make them wrong. They have access to lots of historical evidence, have sold many comparative properties, and have a better understanding of what the market is doing. But don’t just have one valuation, get a few. Be aware that some agents will happily let you “name your price” just so that they can get your property onto their website to bolster their portfolio. A good agent will stand by their word and tell you the truth, and help with identifying areas that you could improve, not just what you want to hear.

Once you have decided on an agent (or several) ensure that you have a signed agreement regarding commission and sale price. If you change the price with one agent, you need to contact all the others.

Try to avoid agents who simply ask for your “NET” price. These companies are generally only looking out for themselves by adding much more than the standard 5% commission onto the price. This scenario only benefits them, plus it will also cause confusion as to the real selling price of your property when clients research websites and see your home with varying prices.

Preparation for Sale

You only get one chance to make a first impression. Buying a property is a massive thing for most people and the buyer will only want to view a property that they can imagine themselves living in. If you want to get as much money as possible for your home then you need to make sure that it looks its best.

Before getting real estate agents around to value your property, and certainly before they come to take marketing photos you need to put right anything that is wrong with the property. Sometimes when we live in our home many of us will put up with an unpainted wall or an electric socket with wires hanging out, or simply do not even notice these things. But when you are trying to sell your property for as much as possible these things need to be rectified. A good agent will always point out things that you should look at improving to help them sell your property quickly and for the best possible price.

It’s up to you how much you spend on improvements. Obviously the intention is that any improvement you do make will add value to the property as it is one less thing for a buyer to use as a negotiating tool to drop the price. But in many cases the repairs were long overdue and will only help to bring the property back to life to help sell it, not increase its value.

If you live in a house, then the garden needs to be mowed, trees and shrubs trimmed, and the leaves cleared. The washing up in the sink needs to be cleaned and put away, and the children need to put all their toys away. If you miss any of these things and show your home in a mess then you need to be prepared to receive offers reflecting this. Some potential buyers just cannot see beyond clutter and dirt and will be put off by the condition. Especially if the buyer has looked at new homes and visited a “show home” that’s brand new with everything decorated tastefully and looking at its best! Buyers that can see beyond a messy home, or worn condition may use it as a bargaining tool to try to drop the sales price.

When you do have viewings try to make the place as welcoming as possible before the agent and buyer arrive. This includes getting the children out of the way if possible, turning off the TV or radio, maybe just leaving some ambient music on. Some buyers become uncomfortable when a seller is there as they feel they can’t be as honest as they would like to be. Human nature prevents most people from being critical direct to the owner, so a lot of sellers step out during the viewings and leave it to their agent. It is what you are paying them for, and they have experience in showing properties to buyers. Some sellers roast coffee beans in the oven, or bake bread to give off a lovely aroma to arouse the senses…. It’s up to you how attractive you make your property.

We have an offer

Any serious and genuine offer from the buyer will be made to the agent. Once the agent has qualified the offer and the ability of the buyer to pay, the agent is obliged to bring that offer to you, regardless of what amount it is. It is then up to you to decide on whether you choose to accept it, make a counter offer or decline it completely. The agent will make the potential buyer aware of your response. Hopefully there will be an offer made that is acceptable to both parties.

When an acceptable offer has been agreed upon, the agent will draw up a legally binding contract that clearly defines the deposit, sale price, timeframe and other details such as included furnishings which may be agreed as part of the sale. It is also at this point that the buyer would need to pay a deposit in order to remove the property from the sales market. The value of this deposit can vary depending on terms, but it is generally about 10-20% of the sale price. This deposit is normally held by the agent or a lawyer, not the seller. Once the contract has been signed by both parties it is legally binding, so should the buyer or seller need to withdraw from the sale/purchase for any reason, then that party is legally bound to compensate the other to the value of the deposit.

This isn’t the west…

Generally the agreed completion dates here in Thailand are quite quick. Most properties are sold in a “sold as seen” condition. Most ownership documentation can be checked within a few days and it’s possible to complete a sale within a month of an offer being accepted. Unlike some other countries it is not a long drawn out process with surveyors and solicitors taking months to check searches, debts, and the history on the property. 90% of all transactions in Pattaya are also cash so there are typically no banks slowing the process. It is also very unlikely to find yourself in a chain of sellers who need to sell their properties before buying yours.

To get the best one-on-one advice for your particular property then please arrange to speak with one of our agents who can arrange to visit your property to discuss all of the matters with you. Call us on or complete this form with the details of your property – CLICK HERE

“I want to stay”

You arrive in Pattaya and decide that you want to stay long term. Staying at hotels is of course very expensive and there are massive discounts if you are prepared to sign a contract for a long term stay. Landlords here in Pattaya want a 6 month commitment, hopefully 12 months. Most of the time landlords are not interested in a tenant who only wants to stay for 3 months.

You’ve been hitting the nightlife and going to the beach, but now if you’re staying long term have your requirements changed? You don’t want to go clubbing every night; maybe you have a job, time to get responsible again!

Help me, help you!

So where to live? What is your budget? Do you have a vehicle? Do you need to be near the baht bus route? Do you need to be near the beach, supermarket, 7/11, house or apartment, do you want a private pool, communal pool, are pets a consideration? Lots of questions only you know the answers to. Consider these and other questions carefully. Certainly we will do our best to offer advice and help with our experience and wealth of knowledge of Pattaya.

Any agent needs your help to find you the perfect place. Most importantly you need to decide on an area to live. Pattaya is a huge area offering a range of property styles. We can help you to narrow down your search.

Spend some time on our website highlighting properties that you are interested in. We can help answer any questions about public transport in a particular area, supermarkets, village/condo history etc. Perhaps we will be able to offer further information that might make a property more or less attractive to you.

A smart prospective tenant with time on his hands would spend time driving around an area of interest at different times of the day. Find out whether the area does meet your hopes and expectations, and that there isn’t a Thai karaoke bar next door that stays open until 3am!

Meet & greet

After organising a convenient time to go and view some properties we will drive you there and answer all your questions where possible, hoping of course that we find the perfect property.

If you are keen to move into a property you will need to put down a holding deposit. When a new property comes to the market it is considered “hot” and many agents will be trying to rent it out. Pattaya has a multi-agent policy meaning that it is very unlikely that we are the only agent looking to rent the property. A lot of the time it is not scare mongering when an agent is stressing the need to get a holding deposit down ASAP. The deposit amount should be sufficient that the landlord will deem serious intent from you.

Once the deposit is put down and a tentative agreement is in place with the Landlord then the property is withdrawn from the market, pending a full contract being signed by both parties.IMPORTANT: If you change your mind after having a holding deposit accepted, you will not receive the monies back. It is non-refundable.

Paperwork

In order to protect all parties for the duration of the rental period both you and the landlord will need to sign a contract confirming your commitment. The contract is a legally binding document and, should you not adhere to it you could be liable for loss of your security deposit and possible eviction. Make sure you understand what you are signing. We have an easy to understand contract which we will guide you through so you fully understand your responsibilities.

Prior to moving into the property you will usually be expected to pay two month’s security deposit and one month’s rent in advance (obviously your holding deposit funds can be used towards this). The security deposit will be returned to you at the end of the contract providing all bills have been paid and there is no need for the Landlord to make repairs caused by you.

In order to protect both tenant and landlord we will come with you to the property prior to you moving in. We will take a photographic inventory of the property noting any pre-existing issues to ensure that you will not be held responsible for them at the end of the tenancy. We will also read the utility meters and try to help with any other issues. Dependent on our agreement with the landlord we may be the first point of contact should you have any issues during your tenancy. We can help with the transfer of your rent to the landlord. Sometimes a landlord may be more “hands on” and be happy to liaise directly with you on most matters which is fine with us. Welcome and enjoy your new home!

        Once you have found a property that you wish to buy, or you have found a buyer for your home, you need to be aware that there will be various property taxes and transfer fees that will be paid at the land department. These fees can be paid from either party, or on a 50/50 basis. It needs to be established very early in the negotiation process who is paying what. The breakdown of these costs are as follows:

Transfer Fee: This is calculated as 2% of the declared value of the property being transferred the percentage fee of the appraised value of the property being transferred. The Transfer duty is paid by the buyer or an agreement is made that the cost is shared.

Specific Business Tax: The specific business tax is 3.3% of either the sale price of the property or the appraised price of the property (whichever is the higher of the two). Note that this tax consists of 3% Business Tax + a Municipal Tax of 10% assessed on the amount of the specific business tax (total tax 3.3%).

There is no Specific Business Tax payable in Thailand under the following circumstances:

• If you have possessed the property more than five years.

• If you are transferring the property to an heir in your will.

• If you transfer the property to your legitimate biological child.

• If you are transferring it to a Thai government agency.

• If you are transferring it to a temple, church or mosque.

Stamp Duty: The stamp duty in Thailand for the transaction is 0.5% of the sale price of the property. The seller in the transaction normally pays for the Stamp Duty in Thailand. Note that if Specific Business Tax is due then the Stamp Duty is not payable. It is one or the other which gets paid.

Withholding Tax: This tax will vary according to whether the seller is a person or a company. If the seller is a company then the withholding tax is fixed at 1% over the registered sale value or appraised value (whichever is higher). If however the seller is a private person withholding tax is calculated at a progressive rate based on the appraised value of the property.

Building Tax: Recently introduced this tax is due to be paid by sellers of properties owned in Thai Company prior to the share holdings being transferred to new owners.

For more help and advise on selling your property, and trying to calculate the expected costs for the transfer fees and property taxes, please contact us on +66 80 2602510 or send us an Email pattayaprosales@gmail.com. Or visit our office and speak to one of our experienced consultants who can talk you through it step by step.

Central Pattaya

Pattaya is “a city that never sleeps”! It has much to offer everybody at any time of the day no matter your taste. You enjoy bartering at one of the many fresh morning markets for fruit, meat and vegetables, or appreciating the alms-giving and morning prayers at the temples, or getting some exercise along the Pattaya Boulevard or in one of the parks, or just relaxing at one of the many cafeterias and watching life go by.

Throughout the day there are many activities to enjoy whether you are a sun worshipper relaxing on the beach, or a water sports enthusiast choosing scuba diving under the water, or the thrills of the Jet Ski’s or Parasailing above the water. If you are neither and you just want to “shop until you drop” then head to some of the leading International department stores such as Terminal 21, Central Festival Pattaya Beach, Central Festival Marina and Royal Garden Plaza. All of these malls also have lots of kid’s fun facilities to occupy their little minds!

As the sun sets, and the evening approaches all of the International restaurants start to prepare for their guests. Café des Amis, Garden Café & Benihana at the Avani Hotel, Bruno’s and Indian By Nature, to name but a few. Of course, there is an abundance of amazing Thai restaurants that also wow diners with their culinary delights. Try Ruen Thai, The Bistro, or Sala Rim Nam restaurants to dazzle the taste buds!

When the sun goes down the cabarets, bars and clubs open their doors for a busy night ahead. The world famous shows at Tiffany’s, Alcazar, Kaan, and The Colosseum lead the way, and of course there is the infamous Walking Street which has a kilometre stretch of restaurants, beer bars, go-go’s and nightclubs. The remarkable thing about Walking Street is that because it is so densely packed with so much to see, you could spend every night for a whole week there, and you would still find new places each and every evening.

Other activities not mentioned above are: Easy Kart go-cart, 2Sky Pattaya Rocket Ball, 10 Pin bowling and the Ripley’s Believe It Or Not franchise with its world famous Odditorium Museum, Haunted Adventure, moving 9DX theatre and an Infinity Maze.

 

Naklua

Naklua is the downtown area past North Pattaya Road. It has its own very busy high street, full of high street shopping, branded restaurants and coffee shops, and now it is boasting the brand new Terminal 21 shopping mall with a 5 floor shopping extravaganza!!

Naklua Road is approximately 4km long starting from the Dolphin Roundabout at North Pattaya and heading north to the long established “Moom Aroi” (translated to mean Delicious Corner) beachfront seafood restaurant. This northern most part of the village is where you can glimpse back in time to when the city was a much simpler and slow-paced fishing village. Many 30 – 40 year old buildings can still be seen around these narrow side streets. There are wooden jetties that extend out over the water so that it’s still possible to moor a small boat, or fish from the end of the pier. Many come here for some amazing photo opportunities.

There is a fresh sea food market on the pier that has been there for decades and is still the place everyone visits today for their seafood. These narrow streets also hold the annual Vegetarian Festival which runs for a whole week in October.

Staying in this Northern area of Naklua you can also visit the stunning Sanctuary Of Truth temple that stands proudly on its own reclaimed shoreline position. It is a wooden hand-carved structure that is claimed to be the largest wooden carved structure in the world! It was built to represent the era of one of Thailand’s most revered kings, King Rama IX. Every inch of the temple has so much intricate detail that it is said the work on the temple is never done! You can be taken around the site by traditional horse and cart, and there are also hourly performances and shows that help to recreate a world that is long gone.

You can find plenty of hotels and guesthouses in this area. They tend to be cheaper here than in the centre of Pattaya City but only 1-2kms away with easy access to and from. Close to Dolphin roundabout are 4 beachfront hotels and resorts: Dusit Thani, BestBella Pattaya, Sunshine Garden Resort and Woodland Hotel & Resort.

Heading west towards the beach, Naklua then changes its name to represent the name of the beach (Wongamat beach) which has its own description heading below….

 

Wongamat Beach

Wongamat Beach is the beachfront part of Naklua in the northern part of Pattaya City. This stretch of beach is widely recognized as one of the best in the area. It has a beautiful bay with palm trees shading the sand and some impressive views back across the Pattaya City skyline and across the to Koh Larn Island, shimmering on the horizon.

As this crescent shaped beach is so picturesque, there are now lots of five-star branded hotels and condominiums spread across this section of coastline. The most recognizable of these is the Centara Grand Mirage It has a unique pyramid design, theme-park style tropical pools, with beach and poolside bars and restaurants. Even if you are not staying onsite, their restaurants are open to walk-in bookings. The Pullman Hotel chain have also moved into the area, and again they welcome beach patrons into their bars and restaurants which can be a great relief from the midday heat.

 

Pratumnak

This hillside location splits Pattaya City from Jomtien Beach. It is best known for the gigantic Golden Buddha that sits at the highest point of the hill. This is a very scenic spot popular with tours. The other well known area is on the opposite part of the hill where there is a lookout platform which gives you full views over the whole of Pattaya bay. This place is popular both day & night for those wishing to take the perfect snap shot of the city.

Beaches There are 3 separate beaches that you can access from parts of Pratumnak Hill depending on where you are.

Pratumnak Beach is the largest beach which stretches from Pratumnak, (next to Pattaya Park) and joins Dongtan Beach in Jomtien by way of a well-maintained footpath shaded by the trees.

This beach is quite spacious and is one of the cleanest beaches in Pattaya. It has a relaxed and laid-back atmosphere. There are minimal deck chairs and souvenir touts, so it’s possible to simply chill out and soak up the views across the Gulf Of Thailand.

Asia Beach is a small bay that very few people actually find. Hidden at the bottom of a quiet street next to the similarly named Asia Hotel it really is a hidden gem. A small beach bar here offers simple canned soft drinks and beers for those lucky enough to find this tranquil spot.

Cosy Beach has become the most well-known beach of them all, as the area has become very developed with hillside condominiums and hotels. This picturesque bay is accessed by a set of steps dug into the cliff face. Once on the beautiful sand you are greeted with a handful of drinks stalls and masseurs. The bay looks straight across the water to the neighbouring Koh Larn Island. It is possible to catch a speed boat to Koh Larn from the beach.

On top of the cliff face there is now a unique restaurant called The Chocolate Factory which combines a stunning restaurant with superb views across the Gulf Of Thailand, and a place where chocolatiers hand craft cakes, patisseries and the most beautiful chocolate you will taste in Thailand.

Another eatery not to be missed is the beachfront restaurant called Birds & Bees. This is an amazing restaurant (not only for its charity work) for the way that it is built within the rock face. Set out over many levels up in the canopy of the trees it has some spectacular views over the ocean. The setting is very romantic, and diners should arrive before 6pm to enjoy the beautiful view of the sunset on the horizon! During the day, you can also wander down to the beach and enjoy a drink as the water laps against your feet.

Two 5-star hotel chains sit directly on the seafront, The Royal Cliff and InterContinental. These hotels offer an incredible experience with their amazing on-site restaurants, beach cafes and sensational views.

One attraction that has been part of the Pratumnak skyline for many years is Pattaya Park Beach resort and Tower. This large complex boasts a hotel, water & amusement park and a 240 metre tower with a revolving top floor restaurant and view point. From 170 metres up the tower you can tower jump (zip line) back down into the water park below.

 

Jomtien Beach

This long stretch of beachfront was known as the quieter part of Pattaya City, and a “getaway” for many who yearned for a more laid back pace of life! Whilst it still is quieter than Pattaya City, the transport links to the city (via Songtaew/Baht Bus, motorbike, or taxi) still make it a very convenient option should you decide you want to go shopping in Pattaya, or to appreciate the upbeat fun and games of the vibrant hotspots of Pattaya City.

In recent years, Jomtien has seen significant developments, with a vast array of condominiums, luxury housing villages and hotels throughout the area, plus infrastructure upgrades which will allow Jomtien to expand and grow as Pattaya has done.

The Northern end of the beach is by far the busier end, and it is the “oldest” part of the beach. Many of the condominiums are over 20 years old. This Northern part of the beach is much wider than the Southern end. It boasts a palm tree-lined promenade, with specific areas reserved for sponsored sporting events such as beach volleyball, beach soccer and wind sailing. Many of these draw huge crowds and most of them get televised internationally. The most famous is the Jet Ski World Cup event held every year along the beach.

The Southern end of the beach narrows until it disappears completely, being replaced by waterfront condominiums, hotels and restaurants.

Along the Jomtien coastline are many high-rise condominium towers popular with Bangkok residents looking for a holiday property. There is also a large retired expat community appreciating the beachfront lifestyle.

Many of the best rated restaurants from the Trip Advisor website are nestled in the Jomtien area with Café Des Amis, Bruno’s, Indian By Nature, Laong’s and Maggs restaurant to name but a few.

To keep you occupied throughout the day there are plenty of fun activities to try. For the thrill seekers there is an activity park, not too far from the beach, where there are adrenalin sports such as bungy jumping, an Angry Birds slingshot, Paintball and Go Kart racing. A little further back is the cultural Floating Market with its small waterside jetties, Thai food and souvenir shops. Close by is an Elephant park where you get the chance to stand aside these amazing animals. Opposite this location is Underwater World which gives you a unique opportunity to see some of the incredible sea life found throughout Thailand. The shark and ray feeding area always draws the largest crowds, and the otter tank is also a very popular event.

When you want to lay back and rejuvenate after all the madness the city has to offer, you can totally unwind at a number of favored saunas & spas in the area. Many offer traditional treatment packages ranging from simple 1 – 2 hour massage to ½ or full day complete mind and body experiences.

And the evening can be rounded off in one of the best restaurants around, or whiled away in one of the many relaxed bars overlooking the promenade.

 

Na Jomtien

Na Jomtien is the stretch of beach that continues on from Jomtien southwards towards Bang Saray. There is a natural break between Jomtien and Na Jomtien due to an inlet that is used as a marina for the houses that front onto the waterway.

You can see from the north to the south of this slowly curving bay, and out across the Gulf of Thailand to Koh Larn and Koh Kram Yai islands.

Access to this area is primarily from the Sukhumvit Road that runs from Bangkok all the way down the coast through Pattaya and further south east.

The beach is clean and sandy and the water is clear. The first stretch is called White Sand Beach. Here you will find some great direct beachfront restaurants including; The Glass House, Bacco Beach Italian and “The View” restaurant. The world famous Café Del Mar of Ibiza fame has also opened a beachfront resort which boasts a huge lagoon pool, sun deck, access onto the beach and all else that goes with the Balearic house beats that made it famous.

It takes about 15 minutes from Pattaya to the Na Jomtien area. This area will also benefit from the newest Pattaya Motorway extension making it easy to bypass Pattaya on the way to Bangkok if needed. In fact this area is seeing the complete reverse, in that now the motorway link has been complete, many families are heading out of Bangkok and arriving on this shoreline in less than 2 hours.

Na Jomtien is one of the only places that have the opportunity for direct beachfront properties and businesses. There is a good range of high-rise condominiums here with panoramic views over the Gulf. These include; Water’s Edge, Whale Marina, Golden Sands, Baan Somprasong and Movenpick Residence to name but a few.

A little further down the beach is Ocean Marina Yacht Club. This is one of the largest marinas in Asia and offers full facilities and services for luxury yachts including mooring and maintenance services. It’s possible to hire boats from here for excursions to the islands for the day or for a few days. Directly on the marina are 2 more high-rise condos; Ocean Marina and Ocean Portifino.

There are many leading international hotels and resorts at Na Jomtien. These include Dor-Shada Hotel, Movenpick Siam Hotel, Ravindra Beach Resort & Spa, and the Ambassador City.

Finally there is also a small village called Baan Amphur which has a large children’s playground, easy parking, a fresh food market and several great little Thai beach restaurants.

 

Bang Saray

Located approximately 16km south of central Pattaya, Bang Saray is a small fishing village. The area is developing quickly, mainly due to completion of the motorway extension that now runs from Bangkok to Rayong. This also connects to U-Tapao International airport, giving easy access by land or air to the area. This will be attractive to more international visitors from all over Asia and to the wealthy (Hi-So) Thai market that love a holiday getaway.

The Eastern Economic Corridor (EEC) plays a huge part in Thailand’s continued economic growth. The government allocated 1.5 trillion baht to this area in 2016. International companies have made bases here, including many Japanese vehicle assembly depots.

U-Tapao airport currently serves mainly domestic, cargo and military business, but with the intended upgrades, hopes to see the flow of through-traffic increase to up to 60 million passengers. It is intended that this airport will become the third busiest airport in Thailand. This will undoubtedly bring more business to the once-sleepy town of Bang Saray, which will in turn result in land prices growing.

Bang Saray will continue to be an alternative holiday destination to Pattaya. In many respects with new building works underway this will be a more organised town with better infrastructure and ease of access than Pattaya, which grew wherever someone wanted to build a hotel! Bang Saray will remain a beautiful town suited to people who don’t want the bright lights and banging music of Walking Street.

Bang Saray benefits from a clean 5km beach. There are many bars and restaurants along the Beach Road and on piers reaching out into the Gulf of Thailand. Already there are some beachfront resorts including Sea Sand Sun & Sunset Beach Resort. Luxury villages are also available currently.

Pattaya is less than 30 minutes north with public transport serving well during the day. There are half a dozen golf courses within 15 minutes drive. There are various other attractions easily accessible including 2 water parks, Khao Chee Chan Buddha, Silverlake Vineyard, Wat Yaan Chinese Temples, and even access to the Naval Base just south with beautiful unspoilt beaches.

 

East Pattaya

East Pattaya is a large area, measuring approximately 20 kilometres from top to bottom. It encompasses land and property from Pong in the north down to Huay Yai in the south. It spans from Sukhumvit Road as its west boundary to the 331 highway in the east.

If you’re in Pattaya for a short holiday then you‘ll probably want to be in one of the more central downtown, or beach areas like Pattaya, Jomtien etc. However if you’re looking at a longer term stay like the thousands before you, you may prefer the relative slower pace of East Pattaya, also nicknamed “the Dark Side”. This has no Star Wars connotations, rather that because it is a newer developed area it received electricity later than Central Pattaya and Jomtien.

East Pattaya is not only a very popular place for expats to live, but many businesses have moved out this way to benefit from lower land prices and to service the population. Many beautiful villages have sprouted up over two decades, and they continue to do so. Why live on top of each other in town when you can appreciate detached housing, private or communal pools, and still have great eateries and all you need nearby! As with anywhere in the world outside of the city centre there is more of a communal feel to this area, where you can become a local at the shops, bars and restaurants as opposed to just another tourist.

A huge benefit of East Pattaya is the ease of access to motorways which take you north and south, to Bangkok, Suvarnabhumi and U-Tapao international airports, and on to Koh Samet, or Koh Chang and further afield. Downtown Pattaya’s traffic can be a little maddening for many, whilst from East Pattaya one can be on the motorways within minutes.

Another massive draw to East Pattaya is that many excellent international schools have been built here including St. Andrews, Rugby and Regents School, and a myriad of others that cater to all budgets and requirements.

With the growth of homes, businesses also spread out of town. For many people there is no requirement to cross Sukhumvit anymore for anything. There are local supermarkets everywhere, banks, bars and restaurants and of course the odd 7/11….!

And don’t worry about something to do. There are activities for all ages. There are several quality golf clubs and ranges, (Siam Country Club golf course holds the LPGA every February as part of the PGA calendar) fishing lakes, gyms, sports arenas, Bira Motor Racing Track and even a Wake Park.

The list continues with so many more places of interest. What is very important on a day to day basis is that there are some excellent eating and drinking holes including Fisherman’s Rest, Welcome Inn, The Lofts, Ristorante Da Marco, Pepper & Salt, Retox Outback, Livv Restaurant & Nong’s Bistro.

As mentioned before East Pattaya is a large place. It is broken down into many well known areas including Mabprachan Lake, Khao Noi, Khao Talo, Siam Country club, Nongprue, Nong Palai, Nong Ket Yai, and many more.

In order to fully appreciate where would be the best area for you to make your new home or your holiday retreat, you absolutely need to be speaking to our knowledgeable agents here at Cornerstone Real Estate.

 

Huay Yai

This area is the southern continuation of East Pattaya. It starts roughly where the railway finishes and is bordered by Sukhumvit Road in the west and the 331 in the east.

Like East Pattaya this area is primarily residential and favoured by ex-pats for its easy access to the highways and the soon-to-be extension to the highway directly to Bangkok.

Another boon to this area will be the enlargement of the U-Tapao International airport which will no doubt rise land values and give easy access to many destinations in Thailand and further afield. In anticipation of the airport and motorway extension there is lots of road widening happening which is also bringing in a lot of business. The knock on effect of that is more villages being developed in the area.

There is plenty to do in Huay Yai, especially if you like some golf. There are several courses in the immediate vicinity including Pattaya Country, Phoenix Gold, Country Club and also a new course called Chee Chan Golf Resort. This course is next to the Khao Chee Chan Buddha Mountain, which can be seen from every hole! Closeby are several other attractions including the Silverlake Vineyards where you can cycle around the vines sampling the wine or dining in the restaurants. There is also the Wat Yaan Chinese Temples which are well worth a wonder around. If you have little ones with you, you may prefer to cool off at the Ramayana Water Park.

Further south there is the famous Nong Nooch Botanical Garden to explore, and just past Bang Saray there is a military base which grants access to some of the best beaches in the area.

Pattaya is still within reach but Huay Yai is an expanding area with lots of amenities on its doorstep, and easy access to airports. New villages are going up all the time, many with private or communal pools, and there is something for every budget.

Why use an agent?

An agent does this for a living. An agent is knowledgeable about the law of renting properties. An agent is better experienced to qualify tenants for a property. An agent has access to quality and up to date rental contracts. An agent will organise payments from tenant to landlord. An agent will intervene if issues arise. An agent can take all of the hassle out of a rental.

The legalities

Being a landlord means taking on a responsibility. It is not a case of sitting back and waiting for cash to roll in. A good landlord will be proactive and reactive when the situation demands. A happy tenant equals a happy landlord.

You have work to do

In order to find the best tenant and to get you the best price we will work hard to secure a suitable tenant. You as a landlord also have things to do. You need to ensure that we have a set of keys and that access is available to us as much as possible. You need to be organised, especially if you have multiple agents going to your property and having multiple sets of keys floating around Pattaya.

You need to decorate the property as well as possible to make it as attractive as possible to prospective tenants. This means ensuring primarily that the property is clean and that the electric has been paid for and is operable. There is nothing worse than trying to agree a rent on a 50,000 baht property via phone torch…! Yes we do work after sundown.

If the property needs a touch of paint to brighten it up, do it. You only get one chance to make a first impression. With so many properties out there you can’t afford miss any opportunity.

Ensure everything is in working order. It is your responsibility to get the air conditioning serviced prior to a new tenant moving in. If the air conditioning breaks down a few days after a tenant has moved in because of neglect it is not a good start to the relationship. Ensure that the TV works, that there are batteries in remote controls, that the plumbing is connected, that we have the alarm code and suitable instructions on how to turn it off.

The truth, the whole truth, and nothing but the truth

Ensure the information you tell us about the property is correct. We don’t want to get a tenant into your property on the promise that “the free Wi-Fi is super fast” when actually it’s 300 baht a month and quite slow in reality! Some people rely on speedy internet for business, and this alone could be cause for a tenant to have to reconsider. Make us aware of any issues that might concern prospective tenants.

Every relationship needs work

Once we have agreed a suitable tenant that you are happy with you may wish to meet them. No problem at all. Just remember that you are giving your property to them for a long period of time and that will be their home for that time, not yours.

Hopefully the tenancy will be unproblematic and you will receive your rent each and every month (without deductions for air conditioning repairs, for example). Come the end of the contract please consider how much money you have received over the contracted time.

Undoubtedly there will be scuff marks, a missing knife, a chipped cup. These instances are considered general wear and tear. Every landlord should build into his costs that a property may require some attention prior to prospective new tenants viewing the property (see above). As such when a tenant is leaving, don’t get hung up by the picture hook in the bedroom, or the grubby hand marks around the light switch.

Whilst we as your agent will protect your rights wherever needed, we also need you to remember that this is a business and that not every baht earnt is profit – you have to speculate to accumulate.

To get the best one-on-one advice for your particular property then please arrange to speak with one of our agents who can arrange to visit your property to discuss all of the matters with you. Call us, or complete this form with the details of your property – CLICK HERE

Should you need to transfer money to purchase a property in Thailand, all funds need to be sent by Telegraphic Transfer (T.T.) with a document identifying the name of the purchaser, and it must be stated clearly in the transfer instructions that the purpose of this money is to buy a condominium unit in Thailand.

Alternatively, it is possible for the buyer to ask a third party to transfer the money for them to buy the property by identifying themselves as the receiver.

The receiving bank of the foreign currency Telegraphic Transfer will issue a Foreign Exchange Transaction Form, which contains the following information:

• The date of transfer
• The exchange rate
• The transferred amount in foreign currency
• The transferred amount in Thai Baht
• The name of the money sender
• The name of the money receiver
• The purpose of the transfer

The Land Department will accept the name of the purchaser as either the sender or receiver of the transferred money.

If the money receiver is an individual but wants to put the unit in the names of two people, the sender must instruct the bank to specify the names of the two people together with the purpose of buying a condominium.

The Land Department can also accept the transfer even if the sender’s name and the receiver’s name is not the buyer’s name but the sender should instruct the bank to put the purpose as being “for the purchase of the condominium by (Purchaser’s name)”.

The amount of money must be equal to or higher than the selling price declared to the Land Department.

In order to obtain a Foreign Exchange Transaction Form, the amount of money must be above US$50,000; lesser amounts require the purchaser to obtain a bank certificate from the receiving bank.

To give you a quick and accurate conversion for your foreign currencies please use the calculator below:

** please be aware that the rates given will vary slightly from bank to bank, so always check with your bank before completing any money transfer **

CLICK HERE TO CONVERT

Over the past few years, the phrase “Owner Finance” has become a term more commonly heard when referring to a property purchase directly from an owner. Because the local Thai banks have severe limitations on what (if any) money they can lend to a foreign national to purchase a property here in Pattaya, some owners have stepped in to allow a potential buyer to spread the cost of purchase over a short period of time.

Owner finance can last between 6 months and 3 years (dependent on seller), however longer periods have occasionally been agreed, normally with a very large initial deposit/down payment of between 25% – 50% of the sales price.

In many cases the owner does not add any interest (unlike a bank), however some owners on longer loan periods will add a percent onto the price each year.

It is important to check and confirm this as early as possible.

Once the loan payments have been agreed, the buyer accepts to pay off the balance within the time frame stipulated and understands that should they miss any payments, and not complete the payment plan, that they may lose all monies paid to the seller and forfeit the right to buy the property.

After receiving the initial deposit/down payment, the seller shall remove the property from sale, pass all legal ownership documentation on to a mutually agreed lawyer who will hold onto these until the balance has been fully paid. At the start of the loan period the seller will also sign “pre-sale” transfer documents for the lawyer to hold. All payments are documented throughout the payment term until the full balance has been paid.

After all payments have been made to the seller, the lawyer is instructed to transfer all ownership documentation to the new buyer using the pre-signed transfer documents from the seller.

Cornerstone Real Estate have experience in drafting secure and legal owner finance contracts. To understand more about this process please come to our office to talk to one of our agents, or contact us: pattayaprosales@gmail.com or call +66 80 2602510

Land Measurements In Thailand.

Thailand uses a unique system to measure land sizes. They name the sizes most commonly by Talang Wah or Rai instead of square metres, or square feet.

Below is a quick (approximate) glace at how to convert Thai measurements.

1 Talang Wah	= 4 Square Metres	= 43 Square Feet
1 Ngan	= 400 Square Metres	= 4,300 Square Feet
1 Rai	= 1,600 Square Metres	= 17,200 Square Feet
2.5 Rai	= 1 Acre (4,046m²)	= 43,000 Square Feet

Sometimes you may see a plot of land for sale with a For Sale sign saying something like “Land for sale 1-3-20” (or similar) which means that the land is:

– 1 rai
– 3 ngan
– and 20 talang wah

Or in sq.m: 1 x 1,600 sq.m + 3 x 400 sq.m + 20 x 4 sq.m = 2,880 square meters.

8080It needs to be understood very early on that it is highly unlikely for a foreigner to be able to obtain a loan, or mortgage from a Thai bank. The main reason for this is that the banks have no way (or no desire) to check your credit history from your home country, and be able to prove your ability to pay off the debt.
Should you find a lender prepared to take the risk, then you should be ready to provide a very large deposit and be able to pay off the balance quite quickly. In their home countries foreigners normally have the ability of spreading their mortgage payments over 20-30 years which makes the monthly payments low and affordable. In Thailand you may be asked to pay off the debt in a much shorter 3-5 year period which will have a huge affect on the monthly payment amounts.
Thai nationals have the opportunity to sit down with their Thai bank to discuss obtaining a mortgage. Generally, they must always be in full time employment with a good employment history, and always be able to show that their earnings are more than the monthly commitment of the bank mortgage. This may sound obvious but it is shocking how many Thai’s seem surprised that a bank will not offer them a mortgage with a loan repayment that is higher than their salary!
A Thai bank will need to have all copies of the ownership documents and land titles etc before they will consider a mortgage application. Only then will they say whether they will lend money against the property, or not. In many foreign countries the banks will look at the person trying to obtain the mortgage, and then inform them how much they would be prepared to lend so that the person only looks at properties within a certain price range. In Thailand this does not happen. You must find a property that you are interested in before the bank will tell you whether they are interested in lending money against it.

It’s Not All Doom & Gloom

Many of the developers around Pattaya can help spread the cost of the purchase of the property over the construction period. Some houses can take between 6-9 months to complete and you can pay money at certain stages of the construction. It may also be possible to secure the land plot and ask the developer to start building your house slightly later to give a few months extra.

Condominium projects take even longer, sometime up to 3 years to complete, so this helps reduce the monthly or quarterly payment amount as you can spread the balance over a longer period of time.

These payment plans do not generally require credit checks. It must however be noted that should the scheduled payments not be made on time then the developer could terminate the sales agreement and put the property back up for sale. If terminated then any payments made up until that point will be kept by the developer as a compensation penalty.

To find out more on the possibilities of a bank loan, or developer payment plans then you should come to talk to one of our agents who can help further. Email pattayaprosales@gmail.com or call +66 80 2602510

Property Insurance

House insurance: Your home usually represents your largest asset so it is therefore important to make sure that it is protected accordingly. There are many local insurance brokers that will offer a wide variety of plans to protect your home and household contents, some even including personal third party liability for you and your loved ones throughout Thailand.

Condominium insurance: To help protect it against fire, theft and other covered causes of loss, it is recommended to take out a condominium policy that covers your personal property and interiors of your condo unit accordingly. In general, the condominium building, construction and common areas are insured through the policy of the Juristic Person, i.e. the condominium association. Even though the condominium association has their own coverage, these policies usually won’t cover you in cases of forced entry, water leakages and liability protection for bodily injury or property damage to others. In these cases, a Condo Insurance policy will come in handy!

The most common insurance policies available in Thailand are:

Named Perils. A property insurance term referring to policies that provide coverage only for loss caused by the perils specifically listed as covered.

All-Risks. These property insurance policies will cover loss arising from any un-fortuitous cause except those that are specifically excluded. There is also the additional benefit of being covered for accidental damage and having nationwide liability coverage.

The Named Perils policies are usually more popular because they tend to be slightly cheaper and already have quite an extensive coverage, such as:

• Natural catastrophes (storm, earthquakes etc.)
• Electrical short circuit
• Burglary, armed robbery
• Fire, lightning and water leakage
• Cost of temporary accommodation in case of property damage/
  loss of property
• Repair costs due to burglary
• Plate glass
• Third party liability Thailand wide