Buying An Apartment/Condo In/Around Bangkok

[drpbala]

I am an expat aged 53 year and working in Bangkok for the last 8 years with work permit. So far I have been living in rented accommodation. Now I am thinking of buying an apartment/condo in/around Bangkok. The budget I am looking for is about Baht 3 million. I hope to work for another 4 years after which I intend to take retirement visa.

Any suggestions from our experienced members are welcome.

Thanks in advance

[micky]

My uncle on Retirement Extension of Stay has bought a condo in Bangkok.

He paid 4.8 million Baht for a one bedroom (36sqm) in a good location.

For around 3 million Baht you won't be able to buy in a good location,

so to speak. However you could buy a second-hand unit in a good location

if you can find one.

A good location is very "Subjective" - meaning different people have

different needs.

To me and as for my uncle a good location is that the condo must be

near a BTS skytrain station. And it should be near shopping malls.

Best you move around and take your own sweet time to look around.

First thing first. This is most important.

1. Your money for the purchase of the condo must come from abroad.

You cannot use your "working" (salary or savings) in Thailand

to purchase the condo - unless you are a Permanent Resident.

2. Make sure that the condo has the 49% quota for foreigners.

3. Assuming that you are married to a Thai wife - then she can

purchase the condo in her name only. It is not yours, so to speak.

4. And assuming that you are buying on your own, make sure you send

the money to the developer or the re-seller by bank transfer from

abroad.

5. Most important. Make sure that the amount should be more than the

agreed price. Because the Thai bank will deduct the usual commission

and the developer or re-seller have certain fees to minus.

For example my uncle paid more to play safe and subsequently the

developer returned the over paid amount back when he got his Title Deed.

Your developer or re-seller should know about this arrangement.

Because if your total amount is short of the total selling (Contract)

price then the Land Office will not issue you the Title Deed.

6. You can go through a lawyer, if you want to.

My uncle bought direct from the developer. No problem. Paid the

full amount and got the Title Deed in less than two weeks.

[jamstock]

Buying a second hand unit in an older building will save you a lot of money. I just bought a 70 sqm 1 bedroom for 4 m next to centrally located BTS

[PattayaParent]

4. And assuming that you are buying on your own, make sure you send

the money to the developer or the re-seller by bank transfer from

abroad.

Better to have the money sent to your own bank account and then pay the developer yourself.

[Aatsi]

Can sure find round 2-3 milj baht secondhand condo 40-70m2 from quite good location and suitable walking distance from BTS.

Edited August 1, 2011 by Aatsi

[stgrhe]

3. Assuming that you are married to a Thai wife - then she can

purchase the condo in her name only. It is not yours, so to speak.

It is incorrect that the condo would be the wife's only. The wife's name may be the sole signature on the deed, but if the purchase is made while being married the property is Sin Somros, i.e. equally owned by both parties.