Categorized | ABPC Advice

How long does it take to buy a condo in Pattaya?

Posted on 05 October 2014 by ABPC

If you are looking to purchase a property there will undoubtedly be a number of questions that you want to ask. One of the most common questions is ‘how long will it take?’ There are a number of reasons that people ask this question.  It could be down to simply impatience but more often than not it is because people are only in the country for a limited period of time and they want to ensure that everything is completed before they leave or make alternative plans either to return or set up Power of Attorney.

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In reality the purchase of a property can be done extremely quickly as there won’t be the delays that we are often used to in our home countries.  Foreigners can’t get mortgages through the banks unless they meet certain criteria, i.e. working in Thailand, Work Permit, tax & salary slips etc. the only things that are required are standard documents supplied by seller & buyer that is required by the Land Office.

Pattaya Condo 2

If you are buying direct from developer things can take slightly longer as more detailed contracts tend to be drawn up and these need to be signed by the company owner who is often not available at the drop of hat.  In reality, if everything is in place there is no reason why this can’t be completed within 10 days assuming that the project or property has been completed.

If you are buying direct from an owner using an agent you could literally complete the process in couple of days.  The agent will draw up the contract, get copies of your passport and you will need to transfer the monies from overseas to your Thai bank account or that of the agent with the transfer note clearly stating “For the purchase of property”.  This will enable you to get a Tor Tor 3 (Sam) from the bank that you will need to present at the Land Office to prove that you have transferred the funds from overseas – a legal requirement when purchasing any property in foreign name.

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It is worth going to the Land Office early as it can be very busy and it is not uncommon for red tape to become an issue so make sure you have enough time that day to get anything else that the Land Office may request.  The delays are rarely serious but often very frustrating and stressful, especially if it is your first experience. The alternative is to ask the agent or a reputable lawyer to act on your behalf.

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