Categorized | ABPC Advice

What is required to buy a condo in foreign name in Thailand?

Posted on 21 October 2014 by ABPC

Many people have come to visit Pattaya on a numerous occasions – sometimes just for a couple of weeks, sometimes for 3 or 6 months.  Often they will have stayed in one of the many hotels that are located in the city or they have rented a condo through us.  Either way, many people fall in love with Pattaya and decide that this is the place that they want to live or stay longer.  Once this has been decided they will probably be thinking about buying a place of their own.

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Once you have decided to buy a property in Pattaya you will need to find a reputable agent like ABPC to help you look around a number of different properties before choosing the one that is ideal for you.  Once you have chosen your dream condo, what happens next? Usually the first step, assuming that your offer has been accepted, will be to pay a deposit.  This is usually 10% or if you are buying from developer maybe a fixed amount such as THB50,000 – a receipt will obviously be issued on payment.  At this stage a copy of your passport and visa will be required and you will need to sign the copies.

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The next stage will be for contracts to be drawn up, the chanot checked and an approximate transfer value sought from the Land Office.  This may be done by the ABPC but if you are buying direct from a developer it will more than likely be done by them.  You will then need to transfer the funds from OVERSEAS.  This is essential when you are buying in foreign name as the monies must be transferred into the Kingdom.  When you transfer the monies you will need to clearly state on the transfer slip or via internet banking “For purpose of purchasing property”.  You will then be able to get a document from the bank called a Tor Tor 3 (sam) that will prove that the funds have indeed come from an overseas transfer.  This document will be required at the Land Office.

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Once you are at the Land Office you will need your passport, Tor Tor 3, and bankers cheque made payable to owner or developer and CASH for the fees at the Land Office.  The Land Office will not accept cheques and unless you are using Power of Attorney you will need to go in person to sign the required documentation.   Once everything is complete you will have the keys to your new home!

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