Foreign Buyers Guide
There are 8 easy steps to purchase cosmopolitan lifestyle condominium
Step 1: Find the One You Want
You must answer to preliminary questions and summarize your project and refine your search by area and type of property. The real estate market of Bangkok remains highly diversified, offering a wide selection of properties in several desirable areas. As Serve Condo Agent, we serve you with a variety of room types in prime location and we can divine the shift of city living spaces onto be city suites.
Step 2: Background Information to Know Each Other Better
The basic checklist is the title deed which truly belongs to the lawful owner and the condo is available part of the building's foreign or Thai quota.
SERVE Condo Agent will provide background and further information. Even regular Updated information of surrounding and lifestyle.
Step 3: Negotiation
Serve Condo Agent can negotiate with owner the best terms:
- The price of the property
- The distribution of the taxes and fees between parties
- The price of the furniture
- The terms of payment
- The date of transfer of the title deed
Step 4: Sell and Purchase Agreement
Serve Condo Agent handles the writing of the purchase agreement, using certified contract forms. Our agents or the lawyer will collect all the required documents and control the following:
- The title deed
- The mention of any collateral
- The inventory of furniture and equipment included in the transaction
- The Document Required and Debt-free Certification Request from juristic person to be certified that the seller paid all the common expenses.
- The foreigner quota available within the residence
Step 5: Sign Contract
After had made agreement on each term of the contract, seller and buyer should meet to sign the contract. The payment of a down payment to 25% of the selling price will be expected. You should consider the amount of the deposit varies according to the duration between the payment and the transfer of ownership 10 - 14 days.
Step 6: Freehold Ownership
To be granted with freehold ownership, you must do as following:
- Transfer completely the due amount in a foreign currency.
- The money must come from another country than Thailand.
- The purpose of the transfer has to be mentioned that Purchase of a Condominium in Thailand
- Additionally, you have to obtain a Foreign Exchange Transaction form from the bank that receives the money.
Step 7: Additional Expenses
The buyer must reimburse the seller with a cashier cheque for the common expenses, usually paid in advance for a period of six months or a year. The buyer will also need to pay electricity deposit for the transfer of the electric counter and other utility bills by cash only.
Step 8: Transfer of Title Deeds
The process of transferring ownership takes place at Department of Lands and usually takes from two to six hours. Usually, buyers give the power of attorney to their lawyers or agents to complete this procedure. Through this action, they change the name on the title deeds of the condominium and pay the balance payment.