MichaelHunt Posted May 11, 2023 Share Posted May 11, 2023 I transferred money from abroad into my Thai bank account for the purpose of buying a condo. The person I intended to buy the condo from changed his mind about selling it, so I withdrew my money from the bank and used it to buy gold. If I find another condo that I would like to buy, can I sell the gold and deposit the proceeds into my bank account and use that money to buy the condo? And if that is doable, is there a time limit for buying a condo with that money? Or, does a condo need to be purchased with money that has never left the account? Link to comment Share on other sites More sharing options...
scubascuba3 Posted May 11, 2023 Share Posted May 11, 2023 The bank will produce a letter to show the money coming from abroad via a specific transfer, if you sell gold and proceeds don't come from abroad they can't do it, but maybe an agent or lawyer can help 1 1 Link to comment Share on other sites More sharing options...
nigelforbes Posted May 11, 2023 Share Posted May 11, 2023 I say, yes you can. You stated othe purpose on the original transfer and that purpose is still relevant, despite what has happened in the meantime. 1 1 Link to comment Share on other sites More sharing options...
Popular Post Peterw42 Posted May 11, 2023 Popular Post Share Posted May 11, 2023 Should be no problem, the bank produces a letter saying funds have been transferred, the fund can be transferred previously.(it can literally be a couple of years ago). The letter isn't a current account balance statement. 2 1 Link to comment Share on other sites More sharing options...
newnative Posted May 12, 2023 Share Posted May 12, 2023 3 hours ago, nigelforbes said: I say, yes you can. You stated othe purpose on the original transfer and that purpose is still relevant, despite what has happened in the meantime. I agree. 2 Link to comment Share on other sites More sharing options...
scubascuba3 Posted May 12, 2023 Share Posted May 12, 2023 17 hours ago, MichaelHunt said: I transferred money from abroad into my Thai bank account for the purpose of buying a condo. The person I intended to buy the condo from changed his mind about selling it, so I withdrew my money from the bank and used it to buy gold. If I find another condo that I would like to buy, can I sell the gold and deposit the proceeds into my bank account and use that money to buy the condo? And if that is doable, is there a time limit for buying a condo with that money? Or, does a condo need to be purchased with money that has never left the account? Let us know of it was possible and how 1 Link to comment Share on other sites More sharing options...
Toby1947 Posted May 12, 2023 Share Posted May 12, 2023 Keep the gold condos not worth a carrot. Rent. 1 Link to comment Share on other sites More sharing options...
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