Tortor3, anybody heard of this ?

[john donson]

a nice lawyer informed me about tortor3

 

if you want to buy a condo, but your money is already in thailand, you could pay 7000 baht per million to the bank to get a tortor3 and the bank would deliver a certificate for the land department...

 

would have been too easy off course...  as the helpdesk of the bank has no knowledge of this...

 

anybody with experience that supposedly bought a tortor3 at that rate ?

 

would be 5-8x cheaper than sending back my money to home country and back... for the privilege of buying a shoebox here or better...

 

seems the universe signaling, do not buy in thailand... already frustrated enough we cannot buy a townhouse or house to live in, in our name... been there, done that, never again, the house buying in the lovely ex-wife...

[Peterw42]

Of course the helpdesk isnt going to advertise that they accept bribes to produce fraudulent documents.

[PJ71]

I got offered 10K per million a couple of months ago.

 

It was to buy a condo but with all the tax hype i've decided against the purchase.

[john donson]

this was from a lawyer that said they had regular customers like that, money already in thailand

 

apparently via an 'agent' as they want to keep their hands 'clean' ... guess they take their cut

[KhunBENQ]

From the web (correct or not):

Tor Tor 3 is an outdated name for what is today referred to as an FET (foreign exchange transaction form) which is a necessary document for the land office. Kind of strange that your lawyer uses tt3.

[Dogbarker]

53 minutes ago, KhunBENQ said:

From the web (correct or not):

Tor Tor 3 is an outdated name for what is today referred to as an FET (foreign exchange transaction form) which is a necessary document for the land office. Kind of strange that your lawyer uses tt3.

Funnily enough I sold a condo earlier this year and went to CIMB to repatriate the funds to the UK . All paper trails from how I got the money,  moved it to Thailand bought the condo sold it paid the tax and wanted to send money back . About 18 years between bringing and returning .Interesting  the original documents mentioned issuing a Tor tor 3. It raised an eyebrow as it was an ORIGINAL  transfer document rather than a bank book that  nowadays says FET. When they finally understood  funds were sent yesterday late afternoon and was in my UK bank at 11pm the same night . Full marks  to CIMB and the rate was not bad .( Yes it was more than baht 1 m )

[TheFishman1]

I keep all my original money transferred from another country into my Thai Bank just in case I ever need it, but the bank keeps records of all the transfers that come into their bank TIT

[Grabbit]

I've just bought another Condo and the TT3 was supplied by my bank without issue, I seem to remember it cost 500thb - nowhere near the amounts you've been quoted. The Land Office however are "special" - because when I transferred the money from the UK, I chose to let my UK bank send in THB (not GBP), we had to pay 5000thb 'tea money' - even tho I produced the UK statements showing the GBP amounts that were sent over..............

 

[BenStark]

10 minutes ago, Grabbit said:

I've just bought another Condo and the TT3 was supplied by my bank without issue, I seem to remember it cost 500thb - nowhere near the amounts you've been quoted. The Land Office however are "special" - because when I transferred the money from the UK, I chose to let my UK bank send in THB (not GBP), we had to pay 5000thb 'tea money' - even tho I produced the UK statements showing the GBP amounts that were sent over..............

 

 

Did you try to read and comprehend the OP before you commented?

 

FYI, you were ripped off, the OP not.

 

Nobody sends Thai baht to Thailand, unless they want to lose on the exchange rate

[digbeth]

1 hour ago, Grabbit said:

I've just bought another Condo and the TT3 was supplied by my bank without issue, I seem to remember it cost 500thb - nowhere near the amounts you've been quoted. The Land Office however are "special" - because when I transferred the money from the UK, I chose to let my UK bank send in THB (not GBP), we had to pay 5000thb 'tea money' - even tho I produced the UK statements showing the GBP amounts that were sent over..............

 

 

if the money were transferred recently it is pretty routine to get one for purchase of Condos and such... no need to 'buy' the service to get one except for small bank's fee

but the original poster's situation is that he has transferred in the money long ago, and banks would not normally issue the FET

hence the higher fee to 'facilitates' issuance of such paper

[john donson]

as original posted, money was send 10+ years ago in euro and converted by the same bank to THB with a FET, 10+ years ago but now that I wanted to buy a condo the bank is pretending they don't have records from over 10 years, even main office, which is absurd and would cost me 2.5% at least, each way to send it back and again...while all was done the correct way...

 

I totally understand now, never send any money to Thailand... but I moved here 17 years ago, sold my house, sent the money...