Transfer Of Extra Foreign Currency For Condo Purchase?

[zz.fugazi]

I'm about to arrange a transfer of dollars from the US to Thailand for the purchase of a condo in Bangkok. The only information I've seen on the web says that the amount must be equal to or greater than the land office appraised value. I'd like to bring in a bit more than the cost of the condo plus closing costs so that I have some money for renovations. Is there any problem transfering to Thailand a greater amount and still earmarking it for the condo purchase? I don't want the banks withholding 30% or some other such silliness.

zz

[naka]

Not a problem, your overseas bank should include the words

"for the purchase of a condominium" on the transfer docs.

(You must tell them to do this by the way)

Also make sure you get a foreign exchange document from the Thai bank.

Naka.

[Simmo]

Yeah , it's not a problem.

Make sure the remark on the wire transfer says "For purchase of condiminum XXXX".

The bank will call you when the money hits your Thai account and ask you what you want to do. After that go to your local branch and ask for the FETF form (they know it as Tor Tor 3). I didn't know to show anything to get the FETF form but you might need your purchase agreement