Direct Transfer To Seller'S Bank Account

[alyx]

Hello everyone

I am selling my condo

I have found a buyer who wants to wire 30% of the amount as a deposit to my account in Thailand

Everyone is aware of the fact that the land department will have to see the FX transaction form (former TT3) to go ahead with the title deed

If the buyer states the purpose of the money transfer will I be able to have the bank to issue the FX Form in the name of the sender. without her physical presence?

Thanks

In any case I will ask the bank directly but it would be nice to hear from some of you who had experiences or knowledge about the matter

[trogers]

Are you selling your condo in Thai Baht or foreign currency?

FX form must show foreign currency coming into Thailand and converted to Thai Baht by the issuing bank.

Isn't it easier for buyer to open his own bank account in Thailand, wire foreign currency into it, and then do a bank transfer from this account to yours?

FX forms must show foreign money coming into Thailand for 100% of condo value before title transfer can be allowed. This is to prevent only partial payment, and the balance being settled overseas.

Edited March 10, 2011 by trogers

[alyx]

.

Thank you for the answer

1) Are you selling your condo in Thai Baht or foreign currency? Thai Baht

2) FX form must show foreign currency coming into Thailand and converted to Thai Baht by the issuing bank. The deposit will be wired from abroad specifying that it is for the purpose of buying the condo

3) Isn't it easier for buyer to open his own bank account in Thailand, wire foreign currency into it, and then do a bank transfer from this account to yours? The buyer will be abroad at time of the transaction and won't be back before September (the buyer has already opened an account)

4) FX forms must show foreign money coming into Thailand for 100% of condo value before title transfer can be allowed. I am aware of this and the rest will be transfered by the same means (but mayve directly to the buyer's account if she is around)

5) This is to prevent only partial payment, and the balance being settled overseas This is why I posted as I am for dealing with matters in a straight manner and, above all, in accordance with the law

[PattayaParent]

FX forms must show foreign money coming into Thailand for 100% of condo value before title transfer can be allowed. This is to prevent only partial payment, and the balance being settled overseas.

FX forms must cover 100% of the condo value declared to the Land Office, this is not always the full sales value of the condo.

[trogers]

FX forms must show foreign money coming into Thailand for 100% of condo value before title transfer can be allowed. This is to prevent only partial payment, and the balance being settled overseas.

FX forms must cover 100% of the condo value declared to the Land Office, this is not always the full sales value of the condo.

Provided the declared value is equal to or more than the value assessed by the Land Office.

[alyx]

Hello I am just back from the Bangkok Bank where I was told that I was allowed to receive the money from abroad and would be able to get the Foreign Exchange form in the name of the sender as long as I present

1) a photocopy of the sender as well as mine

2) the sale contract

I think that settles it

Thanks everyone

[trogers]

.

Thank you for the answer

1) Are you selling your condo in Thai Baht or foreign currency? Thai Baht

2) FX form must show foreign currency coming into Thailand and converted to Thai Baht by the issuing bank. The deposit will be wired from abroad specifying that it is for the purpose of buying the condo

3) Isn't it easier for buyer to open his own bank account in Thailand, wire foreign currency into it, and then do a bank transfer from this account to yours? The buyer will be abroad at time of the transaction and won't be back before September (the buyer has already opened an account)

4) FX forms must show foreign money coming into Thailand for 100% of condo value before title transfer can be allowed. I am aware of this and the rest will be transfered by the same means (but mayve directly to the buyer's account if she is around)

5) This is to prevent only partial payment, and the balance being settled overseas This is why I posted as I am for dealing with matters in a straight manner and, above all, in accordance with the law

Then there should not be a problem for the buyer to transfer foreign currency directly into your account approx to 30% after conversion in Thailand, provided you are the property owner as recorded in title deed, and your bank makes a FX form in favour to the buyer for the purpose of purchasing this condo unit.

This cannot be done if you are selling a condo unit that was booked off plan and your name is not on the title deed.

[alyx]

I confirm

Thanks