After receiving more than 3,400 complaints about real estate this year so far, Thailand’s Consumer Protection Board has pledged to help home buyers who have been taken advantage of by real estate developers.
Secretary General of the Consumer Protection Board, Amphon Wongsiri, said the Board received more than 7,300 complaints in 2015, and more than 3,400 of them were about home buying and delayed construction.
The board would form committees to mediate home buying-related cases in order to avoid a court process, according to the secretary-general.
The Consumer Protection Board will also cooperate with the Engineering Institute of Thailand and officers from the Department of Public Works in inspecting home buyers’ problems.
Amphon suggested that home buyers should read their purchase contract carefully, saying they should check it included a one-year warranty for materials and five-year warranty for structures.
He encouraged them to consult specialists or the Consumer Protection Board if they had any question about the contract.
Dot Property Group also recommends that home buyers and investors understand independent due diligence through an experienced law firm prior to signing the sale and purchase agreement.