Need Help About Buying Condo In Bangkok

[Zen]

hi i urgently need advice about buyng a condo in bangkok. I work in bangkok but i was told that i have to remit the money for buying the condo from my home country. Is that true in all cases? Any exceptions? Now suppose the condo cost 2.5mil baht. Theres a reservation fee of 20,000, and upon signing the contract i have to pay 60,000. After that i have to pay down payment of 185,000. Do i have to transfer everything since the reservation fee or can all these be paid with the cash i have in bkk?

[pkrv]

Yes as a Farang you do need to transfer in funds in from overseas (unless you have a permanent resident type visa).

You are not transferring over 10m THB so you will not get a FET/FETF (Foreign Exchange Transaction Form) instead you will get Bai Rap Rong (s)

Make sure when you transfer foreign funds (usually a SWIFT transfer) you specify in the reason to transfer "to purchase xxx unit in yyy condominium" VERY, VERY important stuff.

See the pinned thread for more details.

http://www.thaivisa.com/forum/topic/320264-the-condominium-act-and-definition-of-a-condominium-in-thailand/

[london]

As always, PKRV is 100% correct.

[HampiK]

You are not transferring over 10m THB so you will not get a FET/FETF (Foreign Exchange Transaction Form) instead you will get Bai Rap Rong (s)

Since when it is 10m THB?

Before it was more than 20'000$ (600'000-800'000), now i read in an other thread something about 50'000$ (1.5m THB)

But i never read anything about 10m THB. Even when i ask the bank!

Please provide information about your numbers.

And about the money. you only need to show the FET at the end, when you go to the landoffice. So you can pay the reservation fee with your local money. But at the end, they will see that the amout of the condo (incl. Reservation Fee) is coming from outside thailand... So my thinking is, you can pay everything with your local money, but when you try to put your name in the chanote, then you need to show prove, that the amout of money for pay is also coming from outside