The time that can pass from the choice of the house to the signing of the deed before the notary may vary according to the conditions that apply: here are the steps to consider
Buying a home does not follow a rigid schedule because the different phases depend on some choices and personal factors as well as variables and contingencies that may arise. However, before going to the notary’s office for the deed, some steps are followed in a logical and chronological order. Going through them without haste and with real estate professionals’ help is what can make the difference between a bargain and a mistake. So if you are opting for a House for sale (รับฝากขายบ้าน, which is a term in Thai) then here are the things you need to know.
The Right Timing
Many, in the timing of the house for sale purchase, rightly consider how much it will take to find the right house (which may depend on the focus area of the search, on your budget or specific requests, or on the fact of relying on the help of an agency to obtain a wider choice of houses for sale). In any case, it is pretty clear to everyone that the right house cannot be found in one day and that, probably, we will need to see more than one.
Moreover, even if today the real estate market has become more flexible (because the family and work needs that lead to choosing the house to buy can vary), real estate investment remains an important and medium-long term step. However, the timing between the property’s choice and the signing of the notary deed of a house purchase (deed) are not always taken into consideration. Yet, in this temporal window, there are passages of crucial importance.
Compromise: Times And Safeguards
The real estate compromise represents the most crucial intermediate moment, also called prior sale. It is not mandatory, but it is almost always signed as a mutual commitment. It can also be signed by private writing. It is instrumental when the home purchase is conditional on the mortgage loan’s recognition (because this can lengthen the time for the deed as bank checks and an additional notarial deed will be required). The compromise tends to specify the date by which the deed must be signed. So in choosing the house for sale, you need to be specific.
The Aspect of Compromise
The compromise, since it does not necessarily require the form of a public deed, does not imply the obligation to contact the notary. The parties can still choose to do so for more excellent protection: this can be useful, for example, if the purchase was made between private individuals because, otherwise, the intermediary real estate agency follows the parties to ensure that both requests are respected and locations.