Hey all, sorry I tried searching around but may not be looking for the right thing.

This is my first purchase of any RE in LOS. I want to buy a small condo my GF rents from a friend of hers (ours). The lady who manages the place says I can buy in Farang Quota so as I understand it I need to show the money come from overseas.

Our friend is selling us the place for only about 50k more than she paid for it about 7 years ago, we have agreed to split the transfer fee's and she wants to try to declare a lower value to hopefully reduce the costs for both of us...

....my question is, if she declares a lower value can I just send that amount of money over from a bank and pay the rest from cash I have on hand here (easier for me).

All in all it is not much money all around (1 mil).

Is there any other due dilligence I should really do on this...these are long time friends, not worried about getting scammed or anything just very new to this!

Thanks!

"my question is, if she declares a lower value can I just send that amount of money over from a bank and pay the rest from cash I have on hand here (easier for me)."

Yes if the lower value is not less than the Land Office valuation.

I would get 2 sales contracts; one for the bank to issue you the FET and one for the Land Office in the lower amount (if requested by LO).

I recently bought a condo, the land office valuation was 65% of the price I bought it for - They had all the paperwork declaring the price I paid but were only interested in the valuation they themselves made.

So I see no point in two contracts and I take the view that messing around with false declarations to a government official during a property purchase is simply asking for problems - and opening the door for the vendor to mess you around on purchase day.

Also note, that sending the full amount over (including taxes) and obtaining a foreign transfer certificate for the larger amount might come in useful if at some time in the future you want to take money out of Thailand.

Actually it sounds like the OP won't even get a FETF which is for transfers of over $50,000 now.

He'll need a Bai Rap Rong.

Thanks all, much appreciated!

Hey all getting ready to send over the funds for this condo, ($30,000usd).

Do I get the Bai Rap Rong *after* I wire the money over?

If sending from US bank, do i just ensure that it gets sent as dollar then converted to Baht at K-Bank to get the onshore (better) exchange rate?

Finally, does it matter whose acct. it originates from as long as it is coming from outside Thailand...i.e. it will originate from a family member of mine, but same last names...

Thanks!