signing papers sale of condo

[Harveyboy]

hey guys I'm sure there is someone here who has sold property here in Thailand I've just been notified by my agent my condo has sold..given me a date to go sign what is the procedure as not to get ripped off 

3 words show red flags in my case Agent/Russian/ Pattaya..it's not that I don't trust people in general But I think you know where I'm coming from with this..so does the money get transferred the same time I sign if so my wife suggested I use my banking app to see in real time..not sure if that's possible just don't like the idea of them holding my cash after all the paperwork is done as I said Pattaya the city of Honesty eh ha  ok thanks for any help to the procedure  H 

[digbeth]

if you haven't used or don't have access to Banking app, have your wife with a phone go to the bank and update the bank book there and phone you back if the money has posted while you wait with the buyer at the land office

[Crossy]

The land office are usually pretty strict on seeing that the $$$ has been paid before they will finalise the transfer.

 

Madam is pretty old-fashioned and likes to see the folding stuff, the land office don't like counting it and are rather happier with a bank-cheque (tax etc paid in cash).

[Swiss1960]

Have seen millions of cash been handed over at Pattaya land office, but also payments on app (immediately visinle) or cashiers checks which will take 3-5 days to be posted to your account.

 

All depends on what payment terms are scheduled in the contract. 

Edited November 21, 2022 by Swiss1960
Typo

[OneMoreFarang]

I used a cheque.

The land office had a copy of the cheque, and I actually gave the cheque to the previous owner after I received the title with my name on it.

 

As far as I know a cheque is the usual way to do this kind of business.

The cheque has the name of the receiver on it, and it can only be transferred into a bank account by the receiver (showing his ID card or similar). 

[digbeth]

fake cashier's cheque will be accepted by bank with amount showing in your accounts when deposited only  disappear three days later when it was found out that it was fake, or reported lost on the same day you received it

 

you can ask for a photo of the cashier's cheque beforehand and phone the issuing bank to confirm

[scubascuba3]

Receiving a bank cheque is normal, they can take a photo of it in advance and send to you so you can check it looks legit.

 

What % split of fees have you agreed? these are paid in cash.

 

Have a sale agreement, A4 1-2 sheets should cover it, templates online

[FriendlyFarang]

Afaik the amount you can transfer in a banking app is limited to 2 million baht per day.

If you are selling the condo for less than that, the easiest way is to just have them transfer you the money using their phone, you can check on your phone that it has arrived in your bank account (arrives nearly instantly).

If it's more than 2 million baht they have to get a cashier's cheque or cash.