To sell a property and be paid in two installments

[laurens]

Hi, i need your advice, please. My Thai wife wants to sell her house with 8 Rai for 4.3 million baht. A Thai buyer has approached us and offered to pay 2.3 million baht upfront without transferring ownership, and the remaining 2 million baht in one year. He claims to have a real estate project. We could sign a contract, do you think this involves any risks? How can we secure the transaction ?


Cheers

[nidhogg]

Get yourself a good lawyer.

[kingwilly]

No need for a lawyer, I can give free, great advice!

A contract like that sound fine, it depends when you sign the paper over!

[Edmond]

A Thai claims to have something.

Rent it to him for 12 months for 2.3m up front and include an option to buy for a further 2m at any point during the term of the 12 month contract. Before the end of the 12 month rental contract he either ponies up the 2m to purchase it or doesn't. Squatters law falls under Section 1382 of the Civil and Commercial Code and requires 10 years of habitation, so one year gives him no such opportunity.