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How to Buy a Condo in Thailand
In order for you to have rough idea in purchasing properties in Thailand, please find details in purchase and sale procedure. Should you have any further questions, please kindly contact info@homeslivingbangkok.com for greater details.
PURCHASE & SALE PROCEDURE
1.       Once you decide to buy a condominium, the booking fee equals to 1% of the selling price (or the agreed price) is required.
2.       After 7-14 days,
2.1    The deposit equals to 9% (if the booking has been paid) is required.
2.2    The deposit equals to 10% (if the booking has not been paid) is required.
3.       Within 30 days, the balance 90% is paid and the title deed and ownership transfer is done at the Government’s Land Registrar. There are transfer fee and taxes required. In practical, the transfer fee and taxes payment are negotiated between the owner and seller. Typically, it is equally responsible by the two parties.
 
*** If transfer money from oversea, purpose of transfer must be declared in order to acquire Foreign Exchange Transaction Form when withdraw money in Thailand.
The mentioned document is needed when transfer ownership at the Land Registrar.
Purpose: Purchase of Condominium, Name of Condominium
Transfer Amount: must be equal or more than the amount of agreed price. We suggest that transfer more than the agreed price for decoration and/or renovation.
 
**** Terms and conditions of purchase and sale are subject to change based on agreement between seller and buyer.
Document required for transferring ownership of a property
  1. Copies of ID Card or Passport from both parties
  2. House Registration from both parties (If any)
  3. House Registration for the unit which will be transferred (If any, otherwise can be enquired at District Office)
  4. Title Deed + Sale Contract (issued by Land Registrar)
  5. Clearance letter from the building’s management office or juristic person. It normally valid for 7 days. Clearance letter states that there is no overdue payments e.g. common fee, utility bills (water).
  6. Foreign Quota Ownership only for Foreign Buyers (issued by the building’s management office and can be enquired with the Clearance Letter)
  7. Confirmation letter, Foreign Exchange Transaction Form, from the bank stating the money is transferred into Thailand to buy such condominium.
  8. Marriage/Divorce Certificate ( If any)
  9. Agreement letter to sell or buy the condo from spouse
  10. Letter of changing name (if any)
  11. Power of Attorney + Appointee’s signature + Appointer’s copy of ID and copy of house registration (should make some blank copies with Appointee’s signature and don’t state the purpose, just in case)
  12. If payment method is made by cashier cheque, make some photo copies (Land Registrar may require)
  13. Money for transfer fees (Cash is recommended as it takes longer time to verify cashier cheque and they won’t refund changes back). Generally, the prices of transfer fees are slightly differently quoted.
 
 
House Registration Book
 
Can be enquired at District Office where the property is located. Documents required are original title deed + sale contract, copies of ID. This House Registration Book will be required to transfer electricity meter ownership.
 
 
Electricity Meter ownership transfer
 
Fill in the form from Electricity Department and bring the documents as stated on the form e.g. last electricity receipt, title deed, sale contract, copy of ID, House Registration of the property
 

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