Investing in real estate or business certainly involves a considerable amount of money. In real estate, it cannot be denied that there are some fraudulent property dealers and developers taking advantage of investors’ lack of knowledge on legal procedures and documentation related to real estate in Thailand. This may be due to the language barrier, as all official documentation is available in Thai only. Therefore, it is advisable that investors take extra precaution by seeking out due diligence services before finalizing any transactions.
Due Diligence is a useful tool for estimating the status of a business, a prospective project, and its developer. It is the research and analysis of a company, organization, or individual done in preparation for a potential business transaction or investment. In addition, due diligence serves to confirm all material facts and legal parameters of a sale or acquisition by investigating and evaluating a potential investment. A reasonable person always takes extra precautions before entering into an agreement with another party. This consequently prevents unnecessary harm in the future because due diligence indeed helps to identify potential risks and liabilities.
Failure to take necessary precautions usually results in terrible consequences. In some cases, this results in serious financial and legal distress on the part of the buyer. If problems, risks, and liabilities are not discovered and identified earlier, the seller might evade any responsibility for them later on.
Our lawyers will make sure that both parties deal with each other in a fair manner by conducting thorough title and background checks. Contact us now!