| Ownership Information: Foreigners are generally not allowed to own land in Thailand, subject to certain exceptions. But in the past a company registered in Thailand could, and this is the way that it was commonly done. In our case we formed a company that bought the land. Then we have a lease agreement with our own company (we are joint directors) that gives us full rights to do as we wish with the land and the house that we built on it. The land has Chanote title, the best title, and our lease agreement is registered on the land deed at the Phuket Land Titles Office. The English version of the lease agreement is the legal version and we had the terms prepared by a law firm in Bangkok, which gives us full right to sell. New regulations place restrictions on the formation of companies to buy land that are not retroactive to our company. In our case the easiest way to sell the house is simply to sell the company together with the lease agreement. This involves changing the names of the company directors together with the names of the lessees registered on the back of the deed. This simple procedure presents no legal problem. It essentially gives freehold ownership. The owner can be the sole director of the company. Operating Costs: There are no property taxes on private homes, no heating costs, no arbitrary maintenance fees, and water is free from a water well, so operating costs are minimal. We have an excellent maid and handyman. We pay an annual land rental fee of 16,000 baht (about $500) to our company bank account from which we pay accounting fees for an annual report to the revenue department and a modest company income tax assessment (about $40). Weekly municipal garbage collection is about $15 USD per year. NOTE: Price has been reduced to 17.9 million baht. (currently about $590,000 USD or 370,000 GBP) Price may be negotiable depending on exchange rates and conditions of sale. Reduction available for direct sale. The house is available for short term one month rent As a long term investment opportunity the house can earn 6% return on long term rental. To Request More Information: You may contact us as follows: Bob at (0)76-388236 or (0)89-727-5407 The country code is 66 email: cosmocampbell@yahoo.com |
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