Common Mistakes When Reading a Property Purchase Contract in Thailand
One of the most expensive mistakes in Thailand looks completely normal.
You like the unit.
The price feels fine.
The location works.
The salesperson says, “It’s a standard contract.”
You open the document, check the price, the payment schedule, the project name — and relax.
That’s usually where the real problems start.
Because many buyers read the contract as a formality before payment, not as the document that will later define what you actually get, what happens if things go wrong, and who has leverage.
Mistake 1: Looking only at price and installments
Buyers focus on:
total price;
how much is due now;
the next payment.
If those numbers look okay, they stop paying attention.
But price and installments are just the surface. You also want to check:
what exactly is being sold and how it is described;
the unit size and how it is measured;
what is included in finishes and fit-out;
delay clauses and remedies;
penalties;
cancellation and refund terms;
who pays fees and taxes at transfer.
Mistake 2: Treating verbal promises as if they are contractual
Salespeople may say:
the view will stay open;
materials will match the showroom;
handover will not be delayed;
refunds will be easy;
furniture is included.
If it’s not clearly written in the contract or attachments, it can be very hard to enforce later. In real estate, what is said and what is written are two different worlds.
Mistake 3: Not checking the exact unit description
Marketing and contracts are not automatically the same thing.
Make sure the contract clearly matches:
unit number;
floor;
area;
layout type;
view (if it is referenced at all);
parking rights (if promised);
included items list;
plans and appendices that form part of the agreement.
If the description is vague or doesn’t match what you were shown, slow down.
Mistake 4: Skimming past delay terms
This matters most for off-plan purchases.
A completion date is not enough. You need to understand:
whether it is firm or indicative;
whether there is a grace period;
whether compensation applies;
what counts as force majeure;
whether the developer can extend timelines without real consequences.
Delays are one of the biggest off-plan risks, and the contract shows who actually carries that risk.
Mistake 5: Ignoring cancellation and refund clauses
Many buyers think, “We’ll deal with it if it happens.”
But this is exactly what the contract is for.
You want clarity on:
whether the booking fee is refundable;
whether partial payments can be recovered;
what the seller can keep and when;
what happens if the buyer is late on payments;
whether the seller can terminate unilaterally.
If those clauses are harsh or vague, your risk profile changes immediately.
Mistake 6: Overlooking fees and taxes
Buyers focus on the unit price, then get surprised near the finish line.
Transfer fee, withholding tax, stamp duty, and specific business tax may apply — and the contract should make clear who pays what. If it’s vague, you get uncomfortable discussions at the end.
Mistake 7: Treating foreign quota as a late detail
For foreign condo buyers, quota is not something to check “later.”
If foreign quota is full, the unit cannot be registered in foreign freehold. So quota and ownership format should be confirmed before booking and before major payments.
Mistake 8: Not understanding remittance paperwork
For foreign freehold condo purchases, funds typically need to come from overseas and the bank paperwork matters for registration.
So payment is not just “send money.” It’s part of the legal mechanics of the deal — and messy remittance documents can create problems at transfer.
Mistake 9: Not checking who actually signs
You should confirm:
who the seller is;
who owns the asset;
who signs the contract;
whether that person has authority (especially if a company is involved).
This is basic due diligence, not paranoia.
Mistake 10: Assuming a “standard contract” is safe
“Standard” often just means “the seller’s template.”
The real question is what the document allows the seller to do, what it truly obligates them to do, and what remedies the buyer actually has.
A simple minimum checklist
At the very least, do not skip:
exact unit description;
price and payment schedule;
delay terms and remedies;
cancellation/refund terms;
taxes/fees at transfer and who pays;
foreign quota (for condos);
payment/remittance requirements for foreigners;
seller/signatory authority.
Final takeaway
The most common mistake is treating the contract as a routine step before payment.
In reality, the contract is where the deal quietly defines what you are buying, what protections you really have, and who will be stronger if something goes wrong.
Put simply: don’t read the contract only to find the price — read it to find the risk.
