goldenball Posted October 4, 2021 Share Posted October 4, 2021 (edited) I am considering a condo buy central (Sukhumvit Rd Soi 13) older building with my wife a Thai citizen. We will go 50/50 ownership but the funds will be 100% from me and transferred from overseas. External websites outline the basics, but they're law firm sites, not property sites, and suggest it is best to all go through them. This is not usual overseas! We will use a law firm for joint wills, but to buy? Any help or tips to avoid disaster down the line would be welcome. The condo is older larger style (32 year old building) we will renovate, with rare amenities -for here- such as dishwasher, and hope to attract long term professional expat tenant. Your expert thoughts are welcome. Please consider advice on: Transfer, foreigner quotas (how to confirm building occupancy quota) Agent involvement, renovation pitfalls, succession (wills). Thank you. Edited October 4, 2021 by goldenball Link to comment Share on other sites More sharing options...
sanuk711 Posted October 4, 2021 Share Posted October 4, 2021 (edited) You seem to know most of the variables in buying already-- 49% Foreign ownership--(confirmed by Body corp)---Keep your Foreign transfer fund receipt in case Thailand isn't for you. Best Transfer of Funds , you will see many options on here. Lawyer/Wills, this is something that needn't be so expensive, but some law firms charge a lot. If its basically about the ownership of the Condo if one of you pass--then I think that option is at the Land office (the Right of Survivorship) Wills can be made out and signed at the Amphur, & even lodged there. Foreign Wills are also accepted in Thailand Edited October 4, 2021 by sanuk711 1 Link to comment Share on other sites More sharing options...
Fairynuff Posted October 5, 2021 Share Posted October 5, 2021 I’ve bought and sold a number of condos during my time and never used a lawyer 1 Link to comment Share on other sites More sharing options...
OneMoreFarang Posted October 5, 2021 Share Posted October 5, 2021 18 hours ago, goldenball said: The condo is older larger style (32 year old building) we will renovate, with rare amenities -for here- such as dishwasher, and hope to attract long term professional expat tenant. When I understand this correct you want to buy this as an investment and rent it out. Did you have a look at what prices people can rent condos these days? You will need a loooooong time to get your investment back. And about the dishwasher: Who needs one? If you have too much to clean then better get a maid. 1 Link to comment Share on other sites More sharing options...
Skypirate Posted October 5, 2021 Share Posted October 5, 2021 https://www.planb.rentals/en/property/nimmanhaemin-road-top-location Link to comment Share on other sites More sharing options...
Popular Post Iron Tongue Posted October 5, 2021 Popular Post Share Posted October 5, 2021 5 hours ago, OneMoreFarang said: And about the dishwasher: Who needs one? If you have too much to clean then better get a maid. I'll second that. If you're targeting professional expat renters, then they'll definitely be using a maid/housekeeper... and no way are you going to convince the housekeeper to use a dishwasher! Maybe a wine fridge instead? 1 2 Link to comment Share on other sites More sharing options...
Conquerbrqvilok Posted October 5, 2021 Share Posted October 5, 2021 I never paid attention to this Topic i have two questions: The price of condo can be any price? 2. What you will get in exchange for buying a condo , I'm asking this question because all countries Turkey, Caribbean ,and some EU once you buy you get the citizenship and same rights as anyone from that country , in Thailand what will you get back? 2 Link to comment Share on other sites More sharing options...
WhiteBuffaloATM Posted October 5, 2021 Share Posted October 5, 2021 “I’ve bought and sold a number of condos during my time and never used a lawyer” FairyNuff: would you mind to kindly share with members the circumstances and process steps ? Imagine no Land / Chanote / Thai Company involved ? Foreigner Freehold Apartment Transfer Only ? Link to comment Share on other sites More sharing options...
The Hammer2021 Posted October 5, 2021 Share Posted October 5, 2021 12 hours ago, OneMoreFarang said: When I understand this correct you want to buy this as an investment and rent it out. Did you have a look at what prices people can rent condos these days? You will need a loooooong time to get your investment back. And about the dishwasher: Who needs one? If you have too much to clean then better get a maid. Actually I used to think the same but a dishwashers are great. Link to comment Share on other sites More sharing options...
Conquerbrqvilok Posted October 5, 2021 Share Posted October 5, 2021 13 hours ago, OneMoreFarang said: When I understand this correct you want to buy this as an investment and rent it out. Did you have a look at what prices people can rent condos these days? You will need a loooooong time to get your investment back. And about the dishwasher: Who needs one? If you have too much to clean then better get a maid. and who keep the condoms from the floor? Link to comment Share on other sites More sharing options...
Pravda Posted October 5, 2021 Share Posted October 5, 2021 A dishwasher in a 32 year old Thai condo building. Sounds like a plan. Why not just install american style washer/dryer combo and bring the while building down? Link to comment Share on other sites More sharing options...
OneMoreFarang Posted October 6, 2021 Share Posted October 6, 2021 13 hours ago, Conquerbrqvilok said: and who keep the condoms from the floor? Maybe one of those... 1 1 Link to comment Share on other sites More sharing options...
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