Koh Samui is the long-lost Garden of Eden found again in Southeast Asia, or at least the closest we could get to such a biblical place. If you think we're exaggerating, then take a closer look at Samui Island yourself!
There's a reason why it's been growing in popularity among buyers, sellers, and realtors worldwide. It's particularly renowned for its myriad of luxury condos and beachside villas.
If you wish to immigrate to Koh Samui for your retirement or work there as an expatriate, rest assured that you can get a hold of many reputable real estate agents to serve as your guide in getting some prime island real estate.
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The real estate market of Koh Samui is doubtlessly flourishing since it offers everything from luxury beachfront villas near its very shores to modern duplex condos. It's also obvious that there are a number of agents looking to become part of this market.
However, how are you—the buyer—able to tell which agents are worth your while and which ones merely act as middlemen for a quick sale on behalf of the seller?
You want to look for the most reputable agents in all of Thailand with all the right telltale characteristics to help them stand out from the others.
Not coincidentally, they're usually the ones who are the most successful agents in their field. If you wish to become an agent yourself, you should strive to achieve these same virtues.
You need to get a real estate expert from a reputable real estate agency because they assist in the reduction of the challenges you have to deal with when buying a Koh Samui property.
This is especially true for foreigners who technically can't buy land from Thailand outright.
They need a company (majority owned by local shareholders), a 30-year leasehold deal, or a Thai spouse to get the land on their behalf. A good agent will also resolve any communication issues since they should also speak English like you do.
The most experienced property agents should offer an impressive track record in terms of realty sales as well.
Feel free to get referrals from their past clients who are most satisfied with their work because these former customers should tell you what to expect from these professionals when push comes to shove.
It's imperative that you avail of an agent who lives in Thailand or works near Koh Samui for the best results when it comes to getting Samui villas.
Find a Thailand-based company with experience in dealing with Koh Samui realty sales specifically. You can check their history and track record to see if they can deliver to you the villa of your dreams.
As a buyer, you want to search for the most diligent agents. They should have an eye for detail and cover all your bases.
You want a trustworthy, confident, and hardworking agent who's able to fill in the gaps in your real estate knowledge, particularly as a foreigner buying Koh Samui property and the legalities you must face.
Such agents should be experienced with the property deal's legal aspects while also serving as your contract negotiation advisor.
Don't work with agents who can't be trusted to handle paperwork, legal matters, taxation, and miscellaneous property details.
Avoid lazy or lackadaisical agents who don't have any enthusiasm for their work. Usually, the laziest agents are the most inefficient ones. A reputable agent lives by diligence and honesty.
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The best agents are masters of communication, particularly if you're an English speaker wishing to buy Koh Samui villas from a Thai seller.
They should be able to convey the benefits and drawbacks on potential properties you've scoped out, essentially offering advice that can sway your decision to buy a property or not.
A good agent should serve as your sound board, giving you significant advice on which properties to buy or telling you info you might not want to hear but you have to hear it regardless for your own good.
They're advisors who'll tell you all of your available options, making sure you fully understand their respective pros and cons.
They should also alert you to the value proposal, whether the property is of good value or not or whether the area is considered an up-and-coming development or not.
They'll also discuss if the property is overpriced or cost-effectively priced compared to market value, building conditions and construction quality, and many other crucial traits of a great find.
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Your agent of choice should be an English-speaking (as well as Spanish, French, or Polish) Thailand property law expert.
If you wish to buy realty in Koh Samui, it's important that you contact an experienced agent with legal knowledge.
He should also teach you about all the regulations you should know as a foreigner when buying property, such as avoiding direct land purchases and availing of special deals like 30-year incremental leaseholds.
These agents will serve as your chauffeurs or GPS maps towards your ultimate Koh Samui villa destination.
Seek a local realty agent with English fluency or English speakers with Thai realty law fluency. This way, they can explain to you what to do while handling all the details, fees, paperwork, and so forth.
How much does a Koh Samui property agent charge in terms of commission? On average, agents get to pocket 3 percent of the sales value of the property, so this reassures you that they'll have your best interests at heart.
Why? They'll be looking for the best deals so that they in turn can get the richest commission from willing sellers.
In contrast, Hong Kong property agent commissions are at 1 percent, Philippine agents at 2 to 3 percent, and Cambodian agents at also 2 to 3 percent. Because Koh Samui offers beachfront villa properties, agents can get up to 5-percent commission per deal.
Regarding which areas in Koh Samui offer the most interesting benefits for buyers, you should go to the Northeastern portion of the island.
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The Northeast Koh Samui properties tend to be more expensive on average compared to the rest of the island. However, it's because it's a prime location.
Loads of tourists go there because of its proximity to the beach, the shore, and the exclusive resorts. This north coast area is also what developers and buyers prefer. They're full of untouched lands waiting for urban development and construction.
Many off-plan properties are available here that give you the freedom to build whatever style or look of villa you wish to have.
You can also avail yourself of resale villa properties in case you're good to go with a given previously owned fully furnished property to save you the trouble of building something from scratch.
Even though the west coast of Samui Island isn't as popular among tourists, residents prefer its quieter surroundings and provincial vibes. If you wish for a retirement home in a secluded and peaceful place, head westward.
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Your agent of choice should also understand the Koh Samui market, including the latest buying trends and regulation changes.
A respectable agent should be able to convey local market conditions in a clear and concise manner to you, the potential buyer, with due diligence in mind.
You shouldn't be caught flat-footed with hidden fees or unforeseen snags like missing papers. Your expert agent should have it all taken care of, so you're left with a beach property in your name or bought on your behalf through an authorized company (or a Thai spouse, for those who are married to one).
Your agent won't be able to tell you the price by area and comparative developments available if they lack research and legwork on every deal.
The best agents should spend time in each Koh Samui region to understand their differences from one another. They should then advise you correctly with the proper market knowledge and statistics.
They'll help you get the right pick depending on what sort of property you want—a retirement home, a villa rental, or a condo rent-to-own deal.
Aside from finding agencies familiar with foreigner-based Thai property sales in Koh Samui, you also need to avail of agents who have a portfolio of available properties for your ready perusal.
They can range from small bungalows costing ฿2 to ฿3 million ($56K to $84K), garden-view villas with pools costing ฿5 to ฿7 million ($140K to $196K), sea-view villas with pools costing ฿10 to ฿12 million ($281K to $337K), and beachfront villas costing ฿30 to ฿40 million ($843K to $1M).
Meanwhile, condominium and apartment options on Northeast Koh Samui start at 30 square meter units valued at ฿1 million ($30,000).
A decent Koh Samui property agent should know property law in Thailand and Samui like the back of his hand.
Like how when dealing with war, a soldier must be fully trained and armed to the teeth before attacking the enemy, a buyer like you should also be armed with sufficient real estate knowledge along with your agent's expert guidance.
Just tell your agent whether you're a retiree, business owner, landlord-to-be, vacationer or occasional tourist, and so forth and he should be able to hook you up with something.
Your agent should be able to look out for you, working as an expert liaison, whether you're being offered a fair price for a property or it's still open for negotiation.
A good agent won't lead you astray. They can haggle on your behalf even though most Samui properties are available at fixed prices by their sellers.
He can even assist in digging through the seller's background to ensure everything is on the up and up, or they can assist with your property inspection if it's a resale property to see if something is amiss or not.
The agent's contacts will be double-checked or triple-checked to ensure that when you buy a property, you'll get a hold of the legal title for it (or a company buying it on your behalf would).
You want to get agents who are able to help you navigate through the property laws of Thailand, particularly when it comes to foreign Thai property purchases.
The agent is there to keep you from having to use trial and error to deal with the Thai property laws in all your lonesome. He should tell you that although you can't directly buy land in Koh Samui as a foreigner, you have multiple purchasing options available.
You can use a company that's owned by a majority of local Thai shareholders to buy the property on your behalf or use the Board of Investment (BOI) to help you out.
It's also possible to avail yourself of a 30 + 30 + 30 leasehold agreement, where you can lease the land and own the property for upwards of 90 years as long as you renew your lease in 30-year increments.
You can also co-own the property with a Thai spouse. You can even use structured ownership or use lease of property to buy your own Samui Island villa or condominium.
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Without an agent, you might end up bewildered navigating through all the required zoning, environmental, and property laws involved in realty sales.
It's not something a local or foreign buyer should be subjected to. It's one thing to be an American buying property in the U.S.A. or a Briton purchasing a U.K. villa. It's another thing altogether for a foreigner to buy Thai property in Koh Samui.
Now you're dealing with unfamiliar territory that requires your agent to serve as your navigator or trusted ally who knows Koh Samui property purchases inside and out.
The agent is particularly handy when it comes to signing the documents for the property sale, with him highlighting where to sign and summarizing the contract.
He should even be able to point out any details, clauses, and fine print included in the document. He's your protection against scammers or unintentionally breaking Thai laws. You can also hire a Thailand property lawyer to cooperate with the agent.
With that said, you can also avail yourself of an agent who knows all the property laws, environmental laws, and zoning laws of Samui (like having a low skyline or keeping houses at three stories).
The best property agents should be flexible enough to always have multiple contacts. These flexible agents should use their networking skills with the right sellers and buyers. They work best as professional liaisons for their clientele and their contacts' clientele.
You should use a realty agency with regularly updated databases and an active list of leads. Their website should have properties that are regularly reviewed for discounts, selling price, or their "now sold" status.
After all, realty is a competitive industry with many players involved who need to be alert when hunting for projects advertised, buildings being constructed, or the arrival of the newest developers.
The best agents should also have contacts with related industries such as electricians, architects, engineers, building companies, and plumbers. Architects and engineers in particular are crucial when building a brand-new off-plan property in an empty lot.
Presently, Koh Samui is undergoing exponential growth and infrastructural development through tourism, leading to the construction of more hotels, resorts, bungalows, villas, and condos.
Look for a real estate agency with an extensive portfolio of real estate properties for sale in Koh Samui. Serious buyers can find professional and highly experienced agents in international agencies who can help out on their exciting journey to owning real estate in Thailand.
Look for agents with previous realty experience to build their agencies into the top-rated and reliable companies presently.
Search for an agency that employs a multilingual staff of male and female agents with international-level education and corporate experience along with a track record for local Thai property sales.
Aside from speaking Thai and English, they can also be fluent in French, Spanish, and Polish. As such, they're able to serve a predominantly international clientele by communicating in the languages native to them (in North America and Europe).
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Many poolside and beachside properties await you with a requisite drink and lounge chair at Koh Samui. It all depends on finding the right agency to assist you, and everything should fall into place.
If you wish to ride Koh Samui property trends with the best agents available, you should keep in mind this article's advice on what to look for when it comes to agent traits.
You should get an agent who understands legalese, can communicate with you in clear English, and can give you the lowdown on which properties in your shortlist have the most value for your budget.
He should also make you aware of things like Samui Island's priorities when it comes to preserving its tropical feel with laws imposing low skylines, bungalows, and three-story resorts. They will definitely affect your range of property choices.
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