How to buy a second-hand condo to be worthwhile

If you are looking for a condo in a good location near the city center. Convenient transportation, not far from the sky train station at a price of less than 2.5 million baht, you may think that this price may not be available anymore. Because the new condo launches next to the train line, now the starting price is 3 million baht or more. Seeing this way, you might think powerless. But in fact, there are condos priced not more than 2.5 million baht near the metro station in the city. Just try to open your mind and adjust your thoughts to look for a second-hand condo instead. Opportunities for you to buy a condo near a metro station in the city at a very affordable price are within reach.


The process of choosing to buy a second-hand condo

1.Location Survey

To find a location that will meet the needs of life, such as near the office, home, parents, or relatives. Best friend's house Shopping centers, bazaar lines, etc., because it gives us the goal of deciding on the zone of the condo.


2.Find a second-hand condo

When you get the zone to choose to buy a condo, the next step is to explore the old condo project. Is to go to the website, buy - sell - rent a condo, which has many websites together. Such as https://www.ddproperty.com, https://www.prakard.com , https://www.thaihometown.com, etc. Because there will be a zone of the condo to choose from, causing confusion. Then go into the comparison of room layout, room size, building height, which has 2 types of condos: Low-Rise condos (8 floors) and High-Rise condos (8 floors or more). Including viewing facilities in the condo Compare selling prices in the same zone at this stage, 3-5 projects of interest should be selected.

3.Who is the Developer

This is because the past construction history of the project will be examined to see if there has been a problem with the residents or not? In addition, second-hand condos will deteriorate over time. It is better to choose a well-known developer with a standard. Including what the juristic person should look like because the juristic person is like a butler, a condo maid who takes care of the central part to maintain good condition. Easy viewing method Is to try and search about the condo's juristic person, whether there are residents to compliant on social media channels or not. Or try to explore at the actual place because if the condo that the juristic person takes care of, even if it is an old condo but the central condition must look good and there is no deterioration to be seen. And when going to explore the room, may try to go to the juristic person to try to inquire some information. Will know immediately whether the legal entity is managed professionally or not Can you answer questions? Working as a system or not, etc.


4.Search for a room from the website

When getting the project that we want This time, search for the room you are interested in by looking at the website for buying-selling-renting the condo mentioned above. You should choose the room you want first such as a Studio or 1 Bedroom, how much space is needed, and what type of room plan is suitable for living? Including having to look at your own lifestyle, whether you like to cook or not, or buy ready meals, you may not have to be too serious about your kitchen. At this stage, only interested condo projects should be cut to 1-2 projects. So that you can delve into the room for sale without too many options.


5.Make a checklist

At this point, you must take the rooms you are interested in on the web and try to determine which rooms you like. Which may make a checklist from the location of the room, floor, address, selling price. For example, I like the south room because the wind is cool all year round. Like not many heights the price is not more than 2.5 million baht, etc. When you get a list of rooms that meet the criteria at this stage, the remaining 3 - 6 rooms should be selected in one project.


6.Call the condo owner


Then it's time to exert yourself by calling the condo owner who has posted for sale on the web page or through a broker so you don't have to hassle to call the room owner directly because you waste time making an appointment to see the room. At this stage, you must be patient to look at the condo several times, but it will allow you to see the atmosphere and environment of the residents for decision-making. Including seeing the condition of the room and the actual size, the real view, the direction of the sun, and wind Project overview Including the surrounding atmosphere.

7. Bargain prices & make contracts


Once you've got the room you've decided to buy, it's time to negotiate the price to get the most satisfying price for both buyers and sellers. Then a "contract to buy and sell" or a deposit agreement. It is a confirmation of the agreement between both seller and buyer. It is an obligation between the buyer and the seller who agrees to sell real estate together and this type of contract does not actually transfer ownership, but the ownership transfer period will be set in the contract instead. The contract for the purchase and sale of the condo must specify the title of the apartment title (Or. Chor. 2) with the room to be sold Second-hand condos usually have a short transfer period of 1 - 3 months. The purchase and sale agreement can be downloaded from the Internet. For a second-hand condo reservation deposit, it is included in the net purchase price. Which on the transfer date, only the difference is paid. The purchase and sale agreement must be carefully checked as follows.

  • The personal information of buyers and sellers must meet their national identity card.
  • Contains details about the condo to be purchased. Corresponds to a copy of the condominium title (Or Sor.2) attached to the purchase and sale agreement
  • Must have a clear appointment date for ownership transfer. As for the transfer at the land office, you can see the condo title deed.
  • See the terms of payment and fees who are responsible, such as half of the transfer fee or the seller leaving, etc.
  • See the terms of other trading conditions, such as buying a second-hand condo, empty room In which the seller has to move all the assets in the condo according to the agreement before the transfer of ownership or the sale of the condo with furniture, etc.
  • See the terms of breach of contract Forfeiture or refund of the deposit Must be clear and straightforward, for example, if the loan is not passed, the entire deposit must be returned. And there should be an expiration period of the contract, most of which are not more than 1 - 3 months, if more than that, the seller has the right to forfeit all deposits from buyers, etc.


8. Submit a second-hand condo loan

Should submit borrowers at least 3-5 banks at the same time because each bank's credit review will take a different time. As a backup plan in case of being rejected. And will be in time with the transfer of ownership under the contract to buy and sell that is specified or if it is denied all will have evidence to claim the deposit back under the contract. And when receiving the approval of second-hand condo loans, the bank will send you a notification of the approval results with the amount of credit received, including expenses such as insurance premiums. Mortgage registration fees, etc. The borrower must notify the seller or broker to schedule a transfer date at the land office. Including making an appointment for the transfer date with the bank staff to bring the check for paying for the remaining second-hand condos

 

9. Transfer ownership of second-hand condos

After receiving credit approval results from the bank Came to the process of transferring ownership at the land office. Documents required in case of being single must bring a copy of the ID card. Copy of name change (if any) and a copy of house registration. In the case of a married or co-borrower and holding a joint condo, a copy of the marriage certificate and the consent letter from the spouse is required. And don't forget to bring the "Purchase Agreement" comes as well. It can be downloaded from the Internet. For the payment of the purchase of a condo, the bank officer will hold the check to transfer together with the borrower. If not able to borrow the full amount the remaining difference must be brought by yourself. It is recommended to purchase as a cashier's check or bank check, which is more convenient than holding cash Including cash should be prepared to pay other bills such as mortgage fees, transfer fees, etc.  


When the ownership of a second-hand condo has been transferred Before moving in, notify the juristic person to change the name of the new owner. Including changing the house registration and changing the name of the electricity and water meter as well. Although it takes a long time to find a second-hand condo to find the right condo, But if you find the right condo in a location that you like, the price is right You will be able to save money by not having to buy new condos at unbeatable prices. Plus, some money left to invest, creating a profit for one more Interested in buying a second-hand condo and see details
 

Reference

https://www.condonewb.com