In this article, we will guide you through the process of how to sell your property in Phuket, Thailand, from the start of listing your property for sale, up until the handover to the new owner.
As we work on commission, it is completely free to list your property with us, and no agency fees are paid until we sell your property. Contact us to find out more about our commission structure.
Note that this is the sale process for clients listing their property with us at Pulse Real Estate, other agencies might do things slightly differently.
You can submit your property for sale right on our website, list your property in Phuket (you can also reach that page by clicking "Sell" in the header menu). There are certain fields with basic information that is required to fill out, but it helps to be as detailed as possible and add as much further information as possible.
We will need copies of documents like your title deed (chanote) and a copy of the seller's ID/passport to ensure that you indeed have the authority to sell the property and to confirm the ownership status.
Unless otherwise stated, our agency agreement is non-exclusive, meaning that you are free to sell your property on your own and list with other agencies simultaneously. We can also work as your exclusive agent, which includes reaching out and offer your property to our email list of 800+ partners on Phuket. Contact for more details on the commission structure as your exclusive agent.
If owners can not provide photos, we can come and take photos. Professional photos and video services can be provided at an extra cost.
If you are not living in the property you are looking to sell (or staying elsewhere in Phuket), we will need the contact of a person holding the key or otherwise can give us access to your property. For houses and villas, this could be a maid or a friend.
For apartments and condominiums, the key can be left with the juristic office who can give out the key to us upon authorization from the owner. To allow for viewings on short notice, a permanent authorization for us to pick up the key would be preferred.
We highly recommend that you ensure that your property in as good of a shape as possible and fresh and attractive for viewings, even if you are not currently staying there yourself. This is particularly important for villas where there is no common area maintenance. An overgrown garden or dirty pool can be a real turn-off for buyers.
When you accept a bid from a buyer, we will produce the Reservation Agreement for you and take the property of the market. It is standard to take a non-refundable deposit from the owner. A standard number for the reservation fee is 5% of the agreed sale price, but the deposit can be anything from 100,000 THB to 20% of the final selling price depending on your terms.
We will work with the lawyers of the buyer and the seller to produce the Sales and Purchase agreement. All the conditions of the deal are to be included in the Sales and Purchase Agreement, including the agreed price, payment terms, which items are included like furniture, kitchenware, etc and any other terms the buyer and seller agree on. We advise both buyer and seller to hire their own independent lawyers to hash out the details, to ensure no unpleasant surprises surface.
The sales and purchase agreement is most commonly signed at the land office, the office at one of the lawyers, or at our office. Copies of documents have to be signed by all parties, but deals can be completed remotely by giving power of attorney.
For the final transfer at the land office to take place, both buyer and seller have to be present or represented by someone with power of attorney. At his point, the property taxes and fees are paid, payment made from buyer to seller (or at a later stage, all according to terms in the sales and purchase agreement), and finally the property is transferred to the new owner.
The turnover time will vary, especially as owners have different reasons to sell their property and therefore will apply different pricing strategies.
Currently, Phuket is a buyer's market, so if you are in need of cash and looking for a quick sale, you probably have to be prepared to drop the price below market value. If the timing is wrong and your asking price too high, a sale might not be achievable without adjustments.
What we have seen is that properties with price discounts are moving faster than ever now during COVID-19 times, as investors are looking to snap up properties. Keep the competition and current market trends in mind when deciding on the asking price of your property.
We at Pulse Real Estate are focusing our marketing efforts mostly online, but we also have two live locations to attract walk-in clients. We have a website with thousands of property listings for sale and rent built on the latest technology, and several thousand users every month, looking to buy and rent real estate in Phuket.
We are also listing our properties across the most popular property portals in Thailand and make use of social media like Facebook, Instagram, and Twitter as well as less known online marketing tools to market our properties. We have been in business since 2013, and have built up a large database of clients and investors to reach out to and target with remarketing when good deals come up.
Now without further ado, let's get to the step-by-step list of selling property with Pulse Real Estate.
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full and managed with reasonable care, it is about the safest investment in the world.”
- Franklin D Roosevelt