Apartment Building & Service for sale in Chiang Mai,Thailand -Near ChiangMai international Airport. ฿40,000,000/178 Sq.wa ( 712 Sq.m)

Apartment Building Business for sale in Chiangmai, Thailand.- near Central Airport Plaza

# A 5-storey apartment building with a total of 44 units (13 units with air conditioning and 31 units with fans) and a 2-storey house for residence, mini-mart, full tenants of all units. Fully furnished, fully furnished, with wifi on every floor.

Rate: 3,800 Thai Baht
Occupancy: 95-100% / Year
ROI: 4-5%/ year
Size: 178 Sq.wa
Location: Chiangmai City
Car Parking: 7
Details Already for run the business

Please let me know if We can do more to support this, feel free to tell us or welcome to our office inside Promenada Shopping Mall  'Realtorchiangmaioffice'  Building A ( Ground floor LG30 & Garden Zone  between Building A to Building B) or call to us     

Mr. Paul Chuenchai    Mobile  087-300-5078
Ms. Esther Chuenchai Mobile 085-614-8205
Mr.Kanong (Deang)    Mobile 063-589-1419 
Office RealtorCM        Mobile 093-032-3738                                                                                   

By Paul&Esther Real Estate Co.,Ltd 
@ Thailand RESAM ( Thai Real Estate Sales and Marketing Association)
@ IEA InstituteI of Estate Agents, Singapore Mr.Paul (MR.Bhumarin Chuenchai) / M’ship No: L00035 Certified Course in Marketing of Foreign Properties  (CCMFP; Thailand, Singapore, Malaysia, Indonesia, Philippine, Japan, China, Australia, New Zealand, India and United Kingdom)

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Metric System-Land Measurement The Metric System was adopted in 1923 BUT old Thai units of measurements are still commonly used. "Talang". "Wah" and "Rai" are most commonly used. Talang means square. 1 Talang equals 1 square meter. Converting units of measurements like "Rai" and "Wah" can be quite complex - may create legal issues. Caution - know what you are buying based on Thai units of measurements.

THE MEASUREMENTS USING FOR LAND IN THAILAND
In Thailand, Land is measured in Rai, Ngan and Sq.Wah.
1 Rai = 4 Ngan or 1600 Sq.m.
1 Ngan = 100 Sq.Wah  or 400 Sq.m. or 4,304 Sq.ft.
1 Sq.Wah = 4 Sq.m. or 40 Sq.ft
1 Acre = 2.53 Rai  or 43,535 Sq.ft
1 Hectare = 6.25 Rai 
Land prices are usually expressed in Baht per Rai or Baht per Sq.Wah. 

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Tenures (Title Deeds) : Chanote Or Nor Sor 4 Jor is most credible.Highest land Title - grants full rights over the property.Properties surveyed in accordance to national survey grid and properly marked.

House Book (Tabien Bahn) A Ta.Bian.Baan or Tabien Bahn (house book), issued by the Thai government via their local municipality. It links a person having their domicile to an address and is Not proof of Ownership of Properties.
Two (2) types of Tabien Bahn: Blue book (Thor.Ror.14) for Thais; Yellow book (Thor.Ror.13) for Foreigners.

Foreign Ownership of Real Estate Thailand Land Code, Sect 95, Foreign investors bringing in or investing THB 40 million (USD1 million) into Thailand can acquire land with a freehold title (not coastal property) for personal use, not exceeding *1 Rai (1,600 sq.m.) to be approved by the Minister.
Condition:
(1) Type of business which foreigners invest that will economically and socially benefits the country or which is declared by the Board of Investment as eligible for the application of the investment promotion under the law thereon.
(2) The period of maintaining the investment shall not be less than three (3) yeas.
(3) The land that the foreigners may acquire shall be within the locality of Bangkok Metropolitan Administration, the City of Pattaya, Municipality, or the zone designated to be the residential area under the law on city planning.

Freehold Ownership If you are buying a Freehold title property, you will need to form a Company. You can be a Director of the company that holds the title to the property with complete control. When a foreign national has invested (USD$1 million) in stocks, securities, or companies, and has Board of Investment (BOI) approval, the BOI may recommend that the foreign national be permitted to hold a freehold title not exceeding an area of 1,600 sq.m.

Leasehold Ownership Buying a Leasehold property means that you are getting a 30 Years Lease but in practice, Leaseholds can be obtained for a 60 year period using the “30+30” mechanism, whereby a 30-years lease is agreed between the freehold title holder and the lessee, that includes a legally binding extension contract for further 30-year period.
Except under special circumstances, foreigners or foreign juristic entities may not own land and are limited to ownership of 49% of condominium units as defined by the Condominium Act of 1999.

Other Types of Properties (less popular) Any Lease or Tenancy exceeding 3 years must be in writing and recorded on the land ownership title deed. 
Any lease or tenancy longer than *3years must be registered with the Provincial Land Department, otherwise it cannot have any legal Effect.

Leasehold Period & Extension Though Leasehold Tenure is generally 30+30, there are also Leasehold Tenure of 75 and 103 years.
For Example: Mahanakorn Ritz Carlton initially sold their units with 103 years’ Leasehold. A year later, the Developer purchases the Freehold land. They the Developer decided to sell the units as freehold land. Buyers who had previously bought units under have them converted to Freehold by topping up a certain percentage of money.

Foreigner can purchase condominiums or apartments without exceeding quota of 49% of foreign ownership. Funds must be brought in externally for property purchases. A *Tor Thor 3 or Tor Thor Sam document or a Foreign Exchange Transaction Form from a Thai bank is requires as proof of funds being transferred externally for property purchases by foreigners.

* Buyers must secure a Tor Thor 3 or Tor Thor Sam document or a Foreign Exchange Transaction Form as proof of their remittance or international transfer of funds (better in Thai Baht) for the purchase of property. Buyers are required to bring this document to the Land Department when effecting property transfer.

* Foreign Buyers can acquire Leasehold land for a period of thirty (30) years with renewal for another thirty (30) years.

Each condominium shall have aliens or corporate as indicated under Section 19 holding ownership in the units collectively not exceeding forty-nine (49%) percent at the time registration.

A joint venture formation; Special Purpose Vehicle (SPV) makes it possible for foreigners to acquire house and land.

For a SPV, max of up to *two(2) foreigners can be shareholders with majority of the rest (51%) being Thai.

* Thailand Land Code, Sect 95, Foreign investors bringing in or investing THB 40 million (USD1 million) into Thailand can acquire land with a freehold title (not coastal property) for personal use, not exceeding *1 Rai (1,600 sq.m) to be approved by the Minister.

Condition:

(1) Type of business which foreigners invest that will economically and socially benefits the country or which is declared by the Board of Investment as eligible for the application of the investment promotion under the law thereon.

(2) The period of maintaining the investment shall not be than three (3) years.

(3) The land that the foreigners may acquire shall be within the locality of Bangkok Metropolitan Administration, the City of Pattaya, Municipality, or the zone designated to be the residential area under the law on city planning.

Transfer of Property Taxes And Transfer Fees, Generally, Buyer pays for the Transfer fee and Seller pays for the Stamp Duty and Taxes. Both Buyer and Seller may negotiate privately how the transfer fees. Stamp duty and taxes are to be settled and paid at the Land Office. Both Buyer and Seller may also agree that the transfer fees, stamp duty and taxes be added on to the Purchase price.

Upfront Cost & Payment Schedules

Transfer Fee / Agent's Fee Transfer fee may also be split between a Buyer / Developer or between a Buyer / Private Seller in a Resale.  (Private negotiations.) Agent Commission - Usually 3% for Sales / For Rental, it is usually One (1) month 's commission for a One (1) year tenancy. 

How to inspect land through Paul&Esther Real Estate?
1. Due diligence on the property.
1.1 Check the property title, tenure, location, features and amenities.
1.2 Ascertain the details and specifications of the property, and get a better knowledge and understanding of the property and its surroundings by visiting the site.
1.3 If engaging third parties to do due diligence, ensure that the third parties are qualified to perform due diligence.
2. Due diligence on claims
The Conduct due diligence checks on claims related to the property

MORE INFORMATION welcome to "REALTORCHIANGMAI OFFICE" and feel free for our consult.

The Places is inside this Chiang Mai Map Zone 8: Mae Hia & Par Daet
@ Big C Hang Dong 1
@ Tesco Lotus Hangdong , Chiangmai, Thailand. 
@ Chiangmai Klaimor Hospital
@ Chiang Mai Provincial Transport Office
@ Tha Nam Lanna Thai Restaurant
@ Home Pro Hang Dong 
@ Godam Korean Restaurant 
@ O2 Gym

If you are interested in this property, do not hesitate to contact us to arrange a viewing or request further information.