Condominium Purchase

Purchasing a condo in Thailand is popular among foreigners because it is the only property they can register to their name. But the process of purchasing a condo is not so simple and easy. For this, you need expertise of experienced attorneys who will make sure that every legal requirement if followed.

Laws For Foreigners When Buying A Condominium In Thailand

  • Money to purchase a condo must be sent from a foreign country in the actual currency. A foreigner needs to show this without which a foreigner cannot register the condo in his name.
  • 49% of rooms can be owned by a foreign national.
  • The building should be governed by the condominium act.

How To Buy A Condominium In Thailand

1. Research

Find the type of property you want to buy. Its price, location and the reason for purchasing it should be determined as well.

2. Checks

Once the property is chosen it is crucial to run a title deed search. As then the collaterals of the unit and whether the condo is part of a foreign or Thai quota will be ensured.

3. Negotiation

Property’s price, the terms of payment, the date of title deed transfer and the distribution of taxes and fees between the parties will be negotiated.

4. Buying Agreement

The purchase agreement is written considering the title deed, mention of collateral, the letter from a juristic person that certifies that the seller pays the common expense and the inventory of the furniture or equipment.

5. Signing the Contract

After the seller and the buyer agree on the terms and conditions of the contract, the agreement is signed. A down payment of at least 25% of the purchase price is expected to be given by the buyer. However, the deposit varies.

6. Transfer of the money

To have the freehold ownership, one must;

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