Is there a deadline for how long you can take between sending money from overseas, and using that money to buy a condo?

[Some guy]

I mean after you send the money from overseas, are any of the next steps in using those funds to buy a condo and transfer it into your name, time sensitive?

 

For example could you send money from overseas, then get the foreign exchange transaction form a year later, then transfer the condo into your name another year after that? 

Cheers

[Get Real]

Why make things so complicated?
There is no limit of time when your tranfered money from overseas have to be used for any kind of purchase.

What happens if you tranfer to early and wait with your purchase, is that you might be asked more questions and provide proof. 
However, if you can do that, there is no problem.

My question is why you would like to pay, and then 1 year later get your name on the condo. Why not do that at the same time as the purchase?

Edited May 16, 2018 by Get Real

[nanglong218]

Shome mishtake shurely.   I transfer money from my Austalian a/c to my Thai a/c via a well known FOREX company. Two days later it is in my a/c to spend as I wish.  Buy a condo or a car, my choice.

 A forex transaction form a year later??  Whose name are you buying this condo in?  It should be your name only.

[observer90210]

Isn't the forex transaction form necessary to proove the funds came from abroad  ? and if the house is sold later to transfer back the funds overseas, don't they need the forex transaction form ?

[Peterw42]

OP, I dont think its written down anywhere that there is a time limit but some land offices may have their own limit or not like it to be more than a couple of months old. Some banks may have a time limit on issuing a FET. Unless there is a good reason to , why not just bring the money in a week before you buy. 

Maybe explain the situation why you need to bring money in a couple of years before you want to buy.

 

If your plan is something like buy in girlfriends name then use FET later to put into your name, that wont work.

Edited May 16, 2018 by Peterw42

[HampiK]

In Bangkok i Used FET which were older than 2 years for paying for a condo. It worked without problems.

But yes, there is maybe not 100% garantee that this will be like that everywhere. 

[ukrules]

35 minutes ago, nanglong218 said:

Shome mishtake shurely.   I transfer money from my Austalian a/c to my Thai a/c via a well known FOREX company. Two days later it is in my a/c to spend as I wish.  Buy a condo or a car, my choice.

 

Maybe it takes a year to 'beat' the seller down to the price you're willing to pay ?

Edited May 16, 2018 by ukrules

[nanglong218]

Oh dear, more complex than I thought.  Why is everything so difficult here?  But he wants it transferred into his name later, so whose name is it in now.  

[scubascuba3]

You may struggle to get the money back out without the FET

Shome mishtake shurely.   I transfer money from my Austalian a/c to my Thai a/c via a well known FOREX company. Two days later it is in my a/c to spend as I wish.  Buy a condo or a car, my choice.

 A forex transaction form a year later??  Whose name are you buying this condo in?  It should be your name only.

If the exchange rate is strong i can understand why some people might transfer early

[ukrules]

4 hours ago, scubascuba3 said:

If the exchange rate is strong i can understand why some people might transfer early

 

Perhaps he sent a few million Baht a few years back and now wishes to buy somewhere to live ?

[blackcab]

6 hours ago, nanglong218 said:

Shome mishtake shurely.   I transfer money from my Austalian a/c to my Thai a/c via a well known FOREX company. Two days later it is in my a/c to spend as I wish.  Buy a condo or a car, my choice.

 

Can your forex company provide you with a FET form? If they cannot then you will not be buying a condo with your baht.

[steve73]

I was told that you need to state the address of the intended purchase for inclusion on the FET form.

I was looking at buying a couple of condos from the same seller, and was told I needed 2 separate FET forms, one for each with  the value split between them.

I didn't follow up - as the seller sold one elsewhere....

But was I wrongly advised?

[Pattaya46]

On ‎16‎/‎05‎/‎2018 at 7:09 PM, Get Real said:

Why make things so complicated? //

 

23 hours ago, nanglong218 said:

Oh dear, more complex than I thought.  Why is everything so difficult here?  //

 

Because he may have transferred the money to buy a condo in the past, and for some reason the sale has been cancelled before it happened at the Land Office.

I have known a guy in this situation. He ultimately bought another condo nearly 4 years after the transfer.  He had to ask for another document at the bank, but get it without problem, just a 2 days delay.

 

[Suradit69]

On 5/16/2018 at 7:13 PM, nanglong218 said:

I transfer money from my Austalian a/c to my Thai a/c via a well known FOREX company

If the "well know Forex company" changes your foreign exchange to baht before depositing in your Thai bank, can the forex company issue a FET? The bank wouldn't if they received the deposit in baht.

[Get Real]

15 minutes ago, Pattaya46 said:

 

 

Because he may have transferred the money to buy a condo in the past, and for some reason the sale has been cancelled before it happened at the Land Office.

I have known a guy in this situation. He ultimately bought another condo nearly 4 years after the transfer.  He had to ask for another document at the bank, but get it without problem, just a 2 days delay.

 

And why did you just take a part out of context from my comment? I actually stated all that you are trying to explain already if you bothered to read all instead of the firt 3 words.

[grkt]

hello,

I also wonder because I transferred some money 2 years ago and never bought the condo that I wanted, so can I still use this money ?

How does land office knows that money transferred has been used or not ?

thanks.

[inThailand]

Only once did the bank demand a reason for the FET letter and a I supplied a generic "To buy a Condo". In all cases, the letter was done and signed by the main office in BKK, not at the branch office. No problems with any of them being accepted by the Land Office. 

[MyFriend You]

I instructed my banks to include a standard statement in remarks on the transfer - "To purchase a Apartment or Condo at a future date"   smiles all around when the Thai banks see this.

[mauroest]

people skilled than me already answered, but I found this:

Transfer Document List for individual foreign buyer of a condominium in Thailand

1. Passport (หนังสือเดินทางชาวต่างชาติ)
2. Evidence of money transferred from aboard to the value of the condominium Tor Thor 3/ FET Form or credit note.) The money should be transferred from abroad in foreign currency and exchanged into Thai baht by the Thai recipient bank. (ใบทธ. 3 เป็นหลักฐานการโอนเงินจากต่างประเทศ เท่าราคาอาคารชุดที่ต้องการซื้อ)
3. Marriage/divorce certificate (if applicable) (ถ้าได้ทาการสมรส หรือหย่าแล้ว ให้นาทะเบียน นั้นๆ ไปแสดง)
4. Power of attorney, if a    etc etc etc

Remarks:All documentary evidence should not be exceed 30 days old หมายเหตุ หลักฐานและหนังสือรับรองต่างๆต้องไม่เกิน 30 วัน