Procedure for selling property to a foreigner?

[Green Nomad]

Hi guys. We are in the process of trying to sell our property in Hua Hin, and now we have an interested party who is asking about the deed. My wife owns the house and land and the buyer is asking about the possibility of a lease. How would this work and is it fairly straight forward? I am assuming this is done all the time, there are a few foreigners around us who have bought not off plan. But it could be they have done this in Thai wife's name.

[Nereus]

Hi guys. We are in the process of trying to sell our property in Hua Hin, and now we have an interested party who is asking about the deed. My wife owns the house and land and the buyer is asking about the possibility of a lease. How would this work and is it fairly straight forward? I am assuming this is done all the time, there are a few foreigners around us who have bought not off plan. But it could be they have done this in Thai wife's name.

Sorry, confusing. Unless he is wanting to lease the property from your wife, it is nothing to do with you how he arranges the "ownership".

[Green Nomad]

That really was my question, he IS wanting to arrange a lease. Is that effectively a rental arrangement and we are still responsible for the property upkeep?

[Nereus]

That really was my question, he IS wanting to arrange a lease. Is that effectively a rental arrangement and we are still responsible for the property upkeep?

Well the terms and upkeep will depend on the wording of the lease. Be aware that it will be regarded as a commercial business, including taxes on the income. It also has to be registered at the Land Dept, where you will have to pay a tax.

The usual lease talked about on here refers to Farang ownership from a Thai owner, be it husband or similar. Which is ALSO regarded as a commercial business as above, in regard to taxes.

[Green Nomad]

Thanks Nereus, with all that in mind, it needs a little thought before we agree to it, I am waiting for the agent to get back to me with more info also. Cheers GN.

[hhinner]

How long a lease does the "buyer" want? Leases longer than 3 years up to 30 years must be registered at the land department. 30 years is the maximum, though some will tell you that 30 years + option on another 30 years can be contracted.