Deposit Problem - Buying Goods Or Condo From Private Owner

[frenchFARANGbkk]

Deposit problem - Buying goods or condo from private owner - You pay a deposit and then what if they don't return and don't sell ?

Hi,

When buying goods or condo from a private owner it happens that they want a deposit to be sure that you will buy later, but even when you sign a paper, what would you do if they finally don't want to sell and don't return the deposit ?

I mean that in my opinion signing a paper has no consequence in Thailand, because what are you going to do if they don't give you the deposit back, are you going to pay a lawyer to get 50000 thb back ? And even if a court tells that they have to give it back, if they are broke or say so, then what will you do?

So in my opinion giving a deposit to people you don't trust is always a risk in Thailand, as there is no easy process to take it easily from their bank account (with lawyer help) as it could be possible in the west ?

If you think that i am wrong please explain, as i would really like to make this point clear.

Thanks.

[chiangmaibruce]

You are correct, this is a real issue. Try google.co.th and thaivisa forum search on "Escrow Act" to get some info on one possible solution. Note that the seller would have to agree to this approach (which is still very new in Thailand), but if they are genuine - and if there are not a lot of buyers around - then they should go along with it.