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Research
Find the type of property you want to buy. Its price, location and the reason for purchasing it should be determined as well.
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.
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.
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.
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.
Transfer of the money
To have the freehold ownership, one must;
Transfer the due amount in foreign currency completely
Money must come from another country
Purpose of transfer must be mentioned
Get a Foreign Exchange Transaction form for transfer
Yes, there is no restriction on the nationality and the foreigners who get entry in Thailand legally can own a condo unit.t
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