Is it possible to wrap up the purchase of a condo in 1 week?

[newnative]

6 hours ago, inThailand said:

 

Yup! I recall both parties paying 1 or 2 thousand baht each to the Land Office to "expedite" the processing so it wasn't an all day event.

Yes, this is pretty standard.

[cheeryble]

6 hours ago, inThailand said:

Let's be honest, many buyers have had problems during the buying process, so a thorough contract including breach resolution is critical.

 

Recently, heard about a buyer who bought a condo unknowingly that had multiple violations to the condo rules and regulations. He has now inherited these problems.

You really think a lawyer.....unless you pay him specifically for extras.....will find this stuff out for you?

If he did what would he do different to what you can?

Think he'd look up the committee chairman for a chat? (good idea BTW). 

Spend the night there?

I might add I paid UK top whack to buy my last place there.

He omitted to let me know the next door had a music license til 12pm and the place opposite was soon to have a one year rebuild.

I found these out myself.

[inf]

So I went to Bangkok Bank in Taiwan and they told me:

1/no need to open a bank account at the Taiwan branch

2/to wire money to the Thai account, they will charge 300 New Taiwan dollars (=slightly more than 300 baht), look at my Taiwanese residency permit, give me the number of an account in Taiwan where I sent the money to that I want to wire to Thailand

3/the Thai side will deduct some more costs, but the Taiwan office was not clear about how much;

 

All looks OK, except for the regulations on opening an account in Thailand which look rather tough for me, being an ordinary  tourist without Thai work permit, Thai wife etc.

 

I'm now considering the following issues:

 

1/my Thai real estate agent suggests Krungsri Bank in Jomtien

2/I will probably need a certificate of residence from the  immigration office at soi 5, but not sure if that will work if they see I'm staying at a hotel address for only 1 week or slightly more

3/I might have to apply for a tourist visa  rather than just come into Thailand with only the form I filled in during  the flight

4/would it be necessary to go all the way to my European embassy in Bangkok to notarize my passport or the residence paper from the hotel = extra time wasted, extra money, and beforehand I really don't know whether they would do such  a thing, sounds a bit tricky to me.

 

The residence thing is a bit of an 'egg or chicken' situation: I need the bank account to buy the condo, but will they let me open a bank account before I buy the condo and can actually live there.

[greenchair]

3 hours ago, inf said:

So I went to Bangkok Bank in Taiwan and they told me:

1/no need to open a bank account at the Taiwan branch

2/to wire money to the Thai account, they will charge 300 New Taiwan dollars (=slightly more than 300 baht), look at my Taiwanese residency permit, give me the number of an account in Taiwan where I sent the money to that I want to wire to Thailand

3/the Thai side will deduct some more costs, but the Taiwan office was not clear about how much;

 

All looks OK, except for the regulations on opening an account in Thailand which look rather tough for me, being an ordinary  tourist without Thai work permit, Thai wife etc.

 

I'm now considering the following issues:

 

1/my Thai real estate agent suggests Krungsri Bank in Jomtien

2/I will probably need a certificate of residence from the  immigration office at soi 5, but not sure if that will work if they see I'm staying at a hotel address for only 1 week or slightly more

3/I might have to apply for a tourist visa  rather than just come into Thailand with only the form I filled in during  the flight

4/would it be necessary to go all the way to my European embassy in Bangkok to notarize my passport or the residence paper from the hotel = extra time wasted, extra money, and beforehand I really don't know whether they would do such  a thing, sounds a bit tricky to me.

 

The residence thing is a bit of an 'egg or chicken' situation: I need the bank account to buy the condo, but will they let me open a bank account before I buy the condo and can actually live there.

 

 

Warning this sounds like the classic scam. Oh, I want to send all this money but I can't get a bank account. Some poor fool will offer to open the account. Then the scam will begin. 

Piss off mate. You should be ashamed of yourself preying on vulnerable people and making them lose money. 

As is recently posted on a new thread. 

Never never open a bank account for someone you met on a chat site. 

And triple never send them money. For any reason. ?????

[theguyfromanotherforum]

Good idea op.

 

 

Spend less time than buying a laptop or a telly.

 

What can go wrong....

 

 

[cheeryble]

10 hours ago, greenchair said:

 

 

Warning this sounds like the classic scam. Oh, I want to send all this money but I can't get a bank account. Some poor fool will offer to open the account. Then the scam will begin. 

Piss off mate. You should be ashamed of yourself preying on vulnerable people and making them lose money. 

I may be an innocent but I don't see the OP asking for anything but advice, which doesn't merit your reply. Who needs that attitude spoiling the atmosphere?

Good luck to him.

Edited October 10, 2017 by cheeryble

[greenchair]

9 hours ago, cheeryble said:

I may be an innocent but I don't see the OP asking for anything but advice, which doesn't merit your reply. Who needs that attitude spoiling the atmosphere?

Good luck to him.

He is fishing. To see if someone will take the bait. 

This same thing recently happened to my friend. 

The beautiful woman that he met on fb said she wanted to buy a condo in Thailand very quickly. She then said she was having trouble getting a bank account to transfer 10 million baht. After some discussion about where to buy, what to buy and chatting a couple of months. The American  lady  (Nigerian ) asked if she could send the money by post, did the target have an address. The target thought it all legit because she never asked for money. Then there was a picture of all the cash in the suitcase, then it all in a box. 

There were copies of the postal order and tax bill all looking very legit. Then the fake panic, omg it's stuck at the airport, then a direct call to target from airport. 

Please pay 26000 in tax to release the package. My friend paid. Then another call. .please pay 56000. ....

Luckily my friend was broke and asked me for a loan. It took me 4 hours to prove to him it was a scam. 

This is a fishing thread. Go ahead let him reel you in. 

[cheeryble]

34 minutes ago, greenchair said:

He is fishing. To see if someone will take the bait. 

This same thing recently happened to my friend. 

The beautiful woman that he met on fb said she wanted to buy a condo in Thailand very quickly. She then said she was having trouble getting a bank account to transfer 10 million baht. After some discussion about where to buy, what to buy and chatting a couple of months. The American  lady  (Nigerian ) asked if she could send the money by post, did the target have an address. The target thought it all legit because she never asked for money. Then there was a picture of all the cash in the suitcase, then it all in a box. 

There were copies of the postal order and tax bill all looking very legit. Then the fake panic, omg it's stuck at the airport, then a direct call to target from airport. 

Please pay 26000 in tax to release the package. My friend paid. Then another call. .please pay 56000. ....

Luckily my friend was broke and asked me for a loan. It took me 4 hours to prove to him it was a scam. 

This is a fishing thread. Go ahead let him reel you in. 

Maybe I'm an innocent, haven't seen any demand so far and that would be the point I would demur to a stranger.

Still if that happened in your own experience we all learned something.

[newnative]

On ‎10‎/‎10‎/‎2560 at 9:10 AM, inf said:

So I went to Bangkok Bank in Taiwan and they told me:

1/no need to open a bank account at the Taiwan branch

2/to wire money to the Thai account, they will charge 300 New Taiwan dollars (=slightly more than 300 baht), look at my Taiwanese residency permit, give me the number of an account in Taiwan where I sent the money to that I want to wire to Thailand

3/the Thai side will deduct some more costs, but the Taiwan office was not clear about how much;

 

All looks OK, except for the regulations on opening an account in Thailand which look rather tough for me, being an ordinary  tourist without Thai work permit, Thai wife etc.

 

I'm now considering the following issues:

 

1/my Thai real estate agent suggests Krungsri Bank in Jomtien

2/I will probably need a certificate of residence from the  immigration office at soi 5, but not sure if that will work if they see I'm staying at a hotel address for only 1 week or slightly more

3/I might have to apply for a tourist visa  rather than just come into Thailand with only the form I filled in during  the flight

4/would it be necessary to go all the way to my European embassy in Bangkok to notarize my passport or the residence paper from the hotel = extra time wasted, extra money, and beforehand I really don't know whether they would do such  a thing, sounds a bit tricky to me.

 

The residence thing is a bit of an 'egg or chicken' situation: I need the bank account to buy the condo, but will they let me open a bank account before I buy the condo and can actually live there.

If I were you, I would hire an English-speaking Thai lawyer specializing in real estate transactions to assist you with everything you need to do.  A good lawyer will explain everything you need to do and how to do it, help you with opening up your Thai bank account, look over your contract to make sure your interests are protected, and will accompany you to the Land Office on the day of closing to walk you through and explain everything that is going on (most of which will be done in Thai) and insure that you get all the right documents and they are all correct.   I know some posters have said that a lawyer isn't necessary but I would recommend using one for the first time you purchase property here.  Remember, for a first time buyer everything is new and unfamiliar and lots of things are confusing the first time around.