Seven Seas 1 Bedroom

Description

      Seven Seas

• Building: F
• Unit Type: 1 bedroom / 1 bathroom
• Floor: 4th floor
• Size: 37 square meters
• View: City view
• Ownership: Foreign ownership is confirmed as possible.
• Price: 1,999,000 Thai Baht (THB). The "HOT SALE" designation suggests a potentially attractive price.
• Transfer Fee: 50/50 split between the buyer and seller.
• Project Name Ambiguity: Unlike the previous listing which specified "Seven Seas 2 Côte d'Azur," this one simply says "Seven Seas." It's crucial to determine which "Seven Seas" development this refers to, as there might be multiple projects with similar names by the same or different developers in Thailand, possibly even in the same area.
• Unit Size and Layout: A 37 sqm, 1-bedroom unit generally offers more living space than a 24 sqm studio. Consider if this size suits your needs.
• Floor Level: The 4th floor is typically a comfortable mid-level, offering a balance between ease of access and potentially better views than lower floors.

1. Identify the Exact "Seven Seas" Project: This is the most critical first step. You need to know the precise location and developer of this specific "Seven Seas" development (Building F). Ask the seller or agent for the full project name and location details. This information is essential for conducting proper due diligence.

   • Research the Developer: Investigate their reputation, past projects, and financial stability.
   • Examine Project Legalities: Ensure the project has the necessary licenses and approvals. Request to see copies of these documents.
   • Verify the Title Deed (Chanote) for the Specific Unit: Confirm its authenticity and that it's free of any encumbrances. A lawyer can handle this professionally.
   • Inspect the Property: Visit the unit to assess its condition, the actual city view from the 4th floor, and the quality of finishes. Also, inspect the common areas and facilities of the "Seven Seas" development.

2. Financial Implications:

   • Total Costs: Remember to factor in all potential expenses beyond the purchase price and the 50/50 transfer fee (stamp duty, legal fees, registration fees, sinking fund, and future maintenance fees). Inquire about the estimated monthly or annual maintenance fees for this specific building and project.
   • Funding: Ensure you understand the requirements for transferring funds into Thailand for foreign property purchases and obtain the necessary Foreign Exchange Transaction (FET) documentation.

3. Foreign Ownership Regulations (Reinforcement): The advertisement confirms foreign ownership is possible. Your lawyer can verify that the foreign ownership quota for this specific "Seven Seas" project has not been reached.

4. Location Analysis: Once you know the exact location of the "Seven Seas" development, research the surrounding area. Consider its proximity to amenities, transportation links, schools (if relevant), and potential for rental income or capital appreciation.