Real Estate Definitions 

“Time is of the essence”
Agent
Agreement of sale
Alienation
Alienation clause
Amendments
Amenities
Appraisal
Appreciation
Arbitration
Assessment
Balloon payment
Beneficiary
Breach of contract
Broker
Broker Agent (Salesperson)
Brokerage Owner
Building restrictions
Business plan
Capital Gain
Capital investment
Capitalization
Capitalization Rate
Cash flow
Closing
Closing or Completion
CMA
Code of Ethics
Collateral
Commercial Property
Commercial Zone
Commission
Comparable (Comps, Sales Comps)
Comparable Market Analysis
Contingencies
SaleContract
Contract for deed
Cost approach
Counteroffer
Debt
Deed
Default 
Deposit or Down Payment
Down Payment
Earnest Money
Endorsement
Equity
Escrow
Exclusive Listing Agreement
Exclusive right  to sell listing
Exclusive-agency listing
Execution 
Executor
Expenses
Fixture
For Sale By Agent
For Sale By Owner (FSBO)
Foreclosure
Foreign Quota
Franchise
Fraud 
Freehold estate
Future interest
Grantee
Grantor
Heir
Highest and best use
Identity 
Income approach
Independent contractor
Industrial property
Inspection
Instalment Contract
Installment sale
Interest-in-real-estate
Joint tenancy
Joint venture
Judgment
Judgment clause
Land
Lease
Leasehold estate
Lessee
Lessor 
Lessor, Landlord, Property Owner
Letter of Intent (LOI)
Lien
Listing 
Listing Agreement
Loan
Management Agreement
Market price
Market value 
Market/data approach
Memorandum of Understanding (MOU)
Mortgage
Mortgage lien
Multi-Family
Multiple Listing Service (MLS)
Negligence
Net Income
Net lease
Net operating income
Non Disclosure Agreement (NDA)
Notary public
Novation
Open listing
Open Listing Agreement
Option
Ownership
Partnership
Power of attorney
Preliminary Deposit
Premises
Prepayment clause
Prepayment penalty
Priority
Property
Property Investment
Property management
Property Tax
Quota Letter
“Ready, willing, and able” 
Real estate
Real Estate Broker
Real Estate Property
Real Estate Purchase/Sale Agreement
REALTOR®
Rent
Rent schedule
Replacement cost
Resale
Residential 
Rights Over Leasehold Asset
Sales contract
Salesperson
Short sale / Fire Sale
Single Family
Specific Business Tax 
Spouse Consent

Stamp Duty
Subletting
Substitution
Survey
Tenant
Termination (lease)
Termination of listing
The original amount
The Terms “Agent” and “Broker” 
Title
Title Deed
Title Insurance
Transfer Fee
Value
Viewing Form
Withholding Tax
Yield
Zoning


**The Essential Guide to Property Inspections in Thailand**

In the bustling real estate market of Thailand, property inspections play a crucial role in ensuring that investments are sound and secure. Whether you're a first-time homebuyer or a seasoned investor, understanding the intricacies of property inspections can save you from costly mistakes and provide peace of mind.

**Understanding Property Inspections in Thailand**

Property inspections in Thailand involve a comprehensive evaluation of a property by a licensed inspector. This process is designed to uncover any issues or necessary repairs before a purchase is finalized. Inspections are not just a formality; they are a critical step in the buying process that can reveal hidden problems that might not be visible to the untrained eye.

**Key Regulations Governing Inspections**

Thailand has specific regulations that govern property inspections to protect both buyers and sellers. These regulations ensure that inspections are conducted professionally and ethically. Inspectors must be licensed and adhere to standards that guarantee a thorough and unbiased assessment of the property. Understanding these regulations is vital for anyone involved in real estate transactions in Thailand.

**Types of Inspections Commonly Conducted**

Several types of inspections are common in Thailand, each serving a unique purpose. Structural inspections focus on the integrity of the building, checking for issues like foundation cracks or roof leaks. Electrical and plumbing inspections ensure that these systems are safe and up to code. Additionally, pest inspections are crucial in a tropical climate like Thailand's, where termites and other pests can cause significant damage.

**The Role of Technology in Modern Inspections**


Technology has revolutionized the inspection process in Thailand. Advanced tools such as thermal imaging cameras and drones allow inspectors to conduct more thorough and accurate assessments. These technologies help identify issues that might be missed during a traditional inspection, providing a more comprehensive overview of the property's condition.

**Challenges Faced by Inspection Professionals**

Despite technological advancements, inspection professionals in Thailand face several challenges. Language barriers can complicate communication between inspectors and clients, especially when technical terms are involved. Additionally, the diverse range of property types in Thailand, from modern condos to traditional wooden houses, requires inspectors to have a broad skill set and adaptability.

**Choosing a Reliable Inspection Service Provider**

Selecting a reliable inspection service provider is crucial for a successful property transaction. Look for providers with a strong reputation, verified credentials, and positive client testimonials. It's also beneficial to choose a provider familiar with the specific type of property you are interested in, as this ensures they have the necessary expertise to conduct a thorough inspection.

**The Impact of Inspections on Business Operations**

For businesses, regular inspections are essential to maintaining operational efficiency and safety. Inspections can identify potential hazards or compliance issues that could disrupt business operations. By addressing these issues proactively, businesses can avoid costly downtime and ensure a safe environment for employees and customers.

**REMAX Thailand's Recommendation for Real Estate Agents**

REMAX Thailand advises real estate agents to prioritize property inspections in their transactions. By ensuring that properties are thoroughly inspected, agents can build trust with clients and facilitate smoother transactions. This proactive approach not only protects clients but also enhances the agent's reputation in the competitive Thai real estate market.

**Q&A Section**


Q: What is the main purpose of a property inspection in Thailand?
A: The main purpose is to identify any issues or repairs needed before purchasing a property, ensuring the investment is sound.

Q: How can technology improve the inspection process?
A: Technology, such as thermal imaging and drones, allows for more accurate and comprehensive inspections, identifying issues that might be missed otherwise.

Q: Why are pest inspections important in Thailand?
A: Due to Thailand's tropical climate, pests like termites can cause significant damage, making pest inspections crucial for property maintenance.

Q: What should I look for in a reliable inspection service provider?
A: Look for providers with verified credentials, a strong reputation, and expertise in the specific type of property you are interested in.