- Questions and Answers
List and Sell your Thailand business for THB 20,000
Questions and Answers
Is the offer only for Thai businesses?
The offer is for any business, commercial property or land in Thailand regardless of who the owner is (or where the owner is from), as long as it is priced at THB 1,000,000 or less and that we are able to contract directly with the owner.
How long will it take to sell?
To start with, there is actually no guarantee that we can sell for you. Nobody can guarantee that, but being specialist business brokers makes us more likely to succeed than general real estate agents who are specialists in selling residential property like houses and condos. Selling businesses requires a very different skill set and there are significantly fewer buyers available looking to buy businesses than there are looking to buy houses and condos. Typically, businesses do not sell quickly, but sometimes they do. Our company best is 7 days from listing to settlement, but this very rarely happens. It all depends upon the type of business, its location, inclusions, price and a host of other things. Realistically, you should expect at least three months (we would classify this as a quick sale) – the due diligence process alone normally takes one month.
How long is this offer for?
We make this offer available if you contract to list with us and provide us with the listing data we require prior to 1 July 2020. You may cancel your listing with us by giving us 30 days’ notice in writing if you choose, otherwise we will honour the agreement for 12 months and at the end of the 12 months if we have not sold for you, we will either offer it again if the COVID-19 situation has not significantly improved, or (if it has) we will offer you our standard listing option.
What if I List with you then Sell it myself?
You just have to let us know so so we can stop advertising. You do not get a refund of the up-front advertising fee of THB 10,000, but you do not need to pay the additional THB 10,000 if we are not responsible for identifying and introducing you to the buyer.
Who pays for the legal costs?
For freehold properties, the legal costs are normally split equally between the buyer and seller so there will be no change to this. For businesses offered for sale and operated from a leased premise (what we refer to as ‘for Sale and Rent’, the main legal cost is the ‘Sales and Purchase Agreement’ (SPA) and it normally costs between THB 10,000 and THB 30,000 depending upon the complexity of the sale conditions. You or the buyer will pay this cost depending upon the agreed negotiated deal. Asian Business Brokers can arrange the SPA to be written for you or you can arrange it, or the buyer may wish to arrange it. Who writes the contact and who pays for it is all subject to negotiation at the time of offer.
Does my business name have to be disclosed in advertising?
No, not at all. As a matter of procedure, we do not do that for many reasons. Your business name and your exact address are not made public until a potential buyer commits to inspect and/or meet you, or (in some circumstances – with your approval) they provide a non-disclosure agreement.
What if my business is worth more than THB 1,000,000?
We sell businesses of all sizes and value and have been doing so for around 6 years. We list the most businesses in Thailand and probably sell the most in Thailand. We are happy to list for you, but this offer is to help people who are particularly struggling as a result of COVID-19 and probably have very limited resources to cope with the situation. Our company was founded on and became successful because of small and start-up businesses like this, so this is our way of helping them because they helped us. If you feel your business is worth more than THB 1,000,000 or you would like to advertise it at a price higher than THB 1,000,000, we would be very happy to list for you under our standard (and competitive) rates and conditions if you choose.
Parinee Insoongnoen (Palm)
Asian Business Brokers (Thailand) Co., Ltd
29 April 2020