Buying Off-Plan Property in Thailand: Escrow Agreements and Buyer Protection
Buying off-plan property in Thailand can offer attractive prices and payment terms, but it also exposes purchasers to financial risks. Deposits and construction-stage instalments are usually paid directly to the property developer and often form part of the financing used to complete the project. If the developer defaults, becomes insolvent, or fails to complete the development, the purchaser may have difficulty recovering the money already paid.