Payment Process For Condo - Two Options?

[Ducati]

Hi, I am in the process of buying a condo at Belle on Narathiwat 24.

I am a UK employee of a multinational company here in Thailand, I was hoping to pay for the purchase from my non-resident baht account with the 5m cash that is sitting here in a local bank account - that amount is earned as a result of my direct employment with my employer here. I have a full work permit and have been working here for 1.5 years.

Now, the sales office at Belle tell me that I only have one option to make payment and that is to transfer money from overseas......which is contradictory to what I hear from other sources. I was told there are in fact two options which can be pursued in my particular circumstances:

1. transfer of FX from outside Thailand to my bank account in Thailand and onward payment.

2. direct cash payment from my non-resident baht account with my Thai bank, providing my company provides a letter confirming that the 5m has been earned from my employment here. This evidence will then be used at the time of registration.

Can anyone confirm that option 2 is a real option?

I am hoping that the Belle sales girls are in fact wrong as I clearly want to use my locally earned Thai baht rather than having to liquidate other funds offshore and bring onshore here (FX risk, transfer fees etc)......

Any advice greatly appreciated!!!

Edited September 27, 2007 by Ducati

[tominchaam]

I doubt the bank will write a document confirming the full amount for your condo came from an overseea account if you choose alternative 2. This document is a must if the Land Office is going to register you as the owner of the property.

But this isThailand - Thai banks and Thai Land Offices! If you manage it be quiet about how it was done and don´t tell anyone.

[billaaa777]

There are other ways. Just ask some of your friends that buy condos or go see a real estate agent that has been around a while and they will walk you through it.