Guide
How to vet a developer
A practical guide for home buyers — how to vet a developer before paying a deposit, from reading project financials and track record to an on-site checklist.
By Peach PhasakornReviewed by K. Somchai (reviewer)Published 2026-07-16Updated 2026-07-16
Before paying a deposit, you should know the developer well — not just the project name, but their delivery track record, financial status, and the actual on-site condition.
This guide explains how to read a developer's financial signals, their past project track record, and the checklist to verify on-site before deciding.
Developer financial signals
Financial signals tell you whether the developer can actually deliver the project.
| Signal | How to check | Why it matters |
|---|---|---|
| Registered capital | Check registered capital at DBD | Capital under THB 5M may be a shell company — be cautious |
| Project budget | Compare sale price vs announced project value | Unusually low prices may mean cut material quality |
| Tax status | Check company tax filing status | Companies not filing tax for 3+ years are a warning sign |
| Liabilities/assets | Read balance sheet from DBD e-Filing | Liabilities exceeding assets = risk of mid-build collapse |
Developer track record
Past project history is the best evidence that the developer can deliver.
| Info | How to check | Why it matters |
|---|---|---|
| Delivered projects count | Count completed and transferred projects | Developers with 5+ delivered projects have a provable track record |
| Years in business | Check company registration year | Companies registered 1-2 years ago have no proven history |
| Delivery delays | Ask sales staff and check buyer reviews | Repeated delays are a clear warning sign |
| Complaints | Search the developer name on OCPB | Repeated complaints = caution |
On-site checklist
What to check when visiting the project site.
- ✓Check actual project condition — is there real construction (if presale)?
- ✓Ask sales percentage and number of deposit-paying buyers
- ✓Request to see the building permit (TB) and land title number
- ✓Check actual materials used — bricks, concrete, paint, etc.
- ✓Ask about home warranty (structure 1-5 years, systems 1-2 years)
- ✓Compare contract floor plan with the actual on-site unit
- ✓Ask about actual common fees and utility charges
- ✓Check real distance from the unit to advertised amenities
How to use government sources
How to use government sources:
- Department of Business Development (DBD): search the developer company name to see registered capital, registration year, and company status
- Office of the Consumer Protection Board (OCPB): search complaint history
- Land Department: verify the project land title
- Local municipality: request the building permit and zoning plan
Specific cautions:
- Prices 20%+ below comparable projects usually have a hidden reason
- Developers who recently renamed or opened a new company after a previous project had problems need careful scrutiny
- A contract without a delivery date or delay penalty = warning sign
Sources
Note: This guide is editorial analysis by the Lee Scout team, not legal or financial advice. Company information may change. Verify with the relevant authority before deciding.