Buying new condo

[skyiceice]

Hello,

 

For buy a new condo the funds can already stay in Thailand ( come already from abroad ) or in the exactly moment when i buy the condo, i need to show that the money come from Outside Thailand ?

 

 

Thank you

[HampiK]

The Money can already stay in Thailand, but you still have to show the Document FET I think which show, that the money is transfered from outside Thailand.

Some People told that the land-departement want see the reason for money transfer "condo buy" or similar.. but in real I not know anybody who had a problem as long they can show a valid Foreign Exchange Form.....

[skyiceice]

When i can ask the FET in the bank ? if i have already trasfert like 6 month before, i'm in time ? or it is too late for ask the Foreign Exchange Form like today  ?

[Orangeclockwork]

Hi ,

 

not to break down any positive thoughts ,

keeping your money safe on your account ,

rent a place is a good option ,

Or read my posts .

 

Your bank must be able to sort the form ,

not sure about delays in time ,

 

If is a new Condo ,

Don t pay a Developer or on his account without 

It , or they will accept and further 

provide you a Thai company unit instead .

 

 

[arithai12]

You should go and ask your bank. In the end, they are the ones issuing the letter.

 

 

[HampiK]

16 hours ago, Orangeclockwork said:

If is a new Condo ,

Don t pay a Developer or on his account without 

It , or they will accept and further 

provide you a Thai company unit instead .

 

Down payment you can pay before without a FET form. The FET is only needed at the land department.

But with a new condo you have to take care, but this is another story.

 

And if you still can become a FET after 6 months, should be possible. I also have asked some of the FET a few months after arriving.

[david555]

38 minutes ago, HampiK said:

 

Down payment you can pay before without a FET form. The FET is only needed at the land department.

But with a new condo you have to take care, but this is another story.

 

And if you still can become a FET after 6 months, should be possible. I also have asked some of the FET a few months after arriving.

Try not to give deposit....but give certity of your id..show you have the money...in last resort freeze the asked deposit on your account....as once given it is hard to get it back as example land department can not inscribe for ANY reason from fault seller......as they know courtcase can cost you more than the deposit....Pay only at land office and by preference with certified bank cheque.....AL this of course if you can pay quick ......(read in example 1 or 2 week)  as no seller shall walk away from a conclude quick sale in this low sales times...

Edited December 27, 2017 by david555

[MyFriend You]

Slightly on-topic - I am considering buying a house on a large ex-pat compound  -  it is listed as 50/50  what does that mean??

[david555]

14 minutes ago, TunnelRat69 said:

Slightly on-topic - I am considering buying a house on a large ex-pat compound  -  it is listed as 50/50  what does that mean??

Shared registration costs..50/50  or each half of that to pay

[dpdp]

And can we use the same fund transfer form many times ?

How do they know that it has been used for another condo already ?

 

[dpdp]

2 hours ago, arithai12 said:

You should go and ask your bank. In the end, they are the ones issuing the letter.

 

 

 

As if they knew anything...

Yes ! Maybe they know what they want for lunch and dinner, nothing more !

 

 

 

[peergin]

It is much safer to buy an existing unit. Don't buy of a plan!

[Sumarianson]

On 26/12/2017 at 9:55 PM, skyiceice said:

When i can ask the FET in the bank ? if i have already trasfert like 6 month before, i'm in time ? or it is too late for ask the Foreign Exchange Form like today  ?

Depending on your bank they should have records going back at least a year. You should have a record on your bank book or statements which will suffice to get an FET.

Edited December 28, 2017 by Sumarianson

[Sumarianson]

On 27/12/2017 at 4:04 PM, TunnelRat69 said:

Slightly on-topic - I am considering buying a house on a large ex-pat compound  -  it is listed as 50/50  what does that mean??

Remember that usually you are as a purchaser only liable for 50% of the 2% transfer fee which is 1% of the condo cost. You should make that clear in writing beforehand as some vendors try to screw you to pay 50% of their tax costs which are theirs only. Get a property agent to help you, you will pay them less than a Lawyer and it is a simple process. It might take several hours of waiting at the land dept.

[Sumarianson]

An FET is only valid for transferring funds out of the country after you sell your condo. You will only be allowed to transfer money to the value of the FET. That is why it is registered in the land registry at the time of purchase.

[david555]

21 minutes ago, Sumarianson said:

An FET is only valid for transferring funds out of the country after you sell your condo. You will only be allowed to transfer money to the value of the FET. That is why it is registered in the land registry at the time of purchase.

I think however only the sum of the sale can be transfered out of Thailand if the sum is lower than the F.E.T.total