Question Abou Take Over A Downpayment For A Condo Purchase

[kerr17]

Hi,

I agreed to buy a condo which is 99% completed and takeover a down payment from another foreigner and after we both signed a preliminary document for the transfer from his name to mine with documents made and signed by the condo constructor and both of us we were expecting to get a contract under my name which we were eventually told we won't get as the copy of the previous contract along the name transfer document will be enough and once will go to the land department to get the title deed the name will be under my name.

Does anyone know the right procedure?

I can't find anything about it online.

Any help will be much apprecciated

[DonTron]

I would definately have a good lawyer read thru and approve the contracts.

Rule #1 with properties in Thailand - Get a GOOD lawyer!!

[katabeachbum]

Hi,

I agreed to buy a condo which is 99% completed and takeover a down payment from another foreigner and after we both signed a preliminary document for the transfer from his name to mine with documents made and signed by the condo constructor and both of us we were expecting to get a contract under my name which we were eventually told we won't get as the copy of the previous contract along the name transfer document will be enough and once will go to the land department to get the title deed the name will be under my name.

Does anyone know the right procedure?

I can't find anything about it online.

Any help will be much apprecciated

If both pre- buyer and pre-seller (developer) have signed an agreement with you to take over rights and duties, it sounds like a normal agreement. Even better if the same witnesses witness the additional agreement. If in doubt, use a reputable BKK lawyer look through the docs.

Edited August 3, 2009 by katabeachbum