Selling A Property And Buy A New One In Thailand

[jdrake72]

I apologize if my questions were answered already in this forum, but I cannot find a recent topic with these details.

I would need to know the following details.

For example if i buy a 2 million baht condo in Bangkok with a transfer from abroad and than i decide to sell it to buy a bigger condo ...

what happened in the scenario if i sell it for 3 million and i want to buy a 4 million baht bigger condo ?

I have the doubt about these options, i need to know which one is the right one:

1-If had previously bought a condo here and sold it , i can use the 4 million baht from local money i have in Thailand

2-since the first purchase was for 2 million, i would need to trasfer from abroad 2 million and i can use the 2 million of the previous transfer to buy the new 4 million baht condo

3- since i sold it for 3 million, i can use local 3 million and need to transfer from abroad 1 million baht

4-cannot use any of this local money and i will need to have anew transfer from abroad of 4 million baht

I hope the correct option is not the 4th, coz it will be a great complication, how i suppose to spend the money of my sold condo here ??

Thanks in advance

[oracle]

I think it's the 4th option. It's all about bringing fresh money into Thailand to obtain ownership. I recently heard something related to this and that is that if you die and leave your condo to your non-Thai children they will obtain ownership, but have to sell within a year because they have not brought in the money!?

[PattayaParent]

I have read previously in this forum that you CAN use the money from the sale of the previous flat by showing a copy of the previous TT3/FETF and land transfer details.

So you would only have to bring in the balance.

[tangoll]

If you are a non-Thai, each purchase of a condo must, at time of transfer of ownership, have presented to Land Dept originals of Foreign Exchange Transaction Form showing amount of Baht converted from foreign currency transferred into the receiving bank equal to or greater than the transaction amount being used for transfer of ownership.

This means that local funds generated from prior sale of a condo would not result in your being granted an FETF for those funds, and you would need to import fresh foreign funds for the purchase of the new condo, ie. your option 4.

A copy of a used FETF would not suffice for the purchase of the second condo.

You would need to export the funds generated from the sale of first condo, and then import those funds again after conversion to a foreign currency.

[PattayaParent]

That's what I had always thought Tangoll, and actually did myself.

But I read a post on this forum that someone had done it using a previous FETF so maybe a search is called for.