How To Buy Condos In Bangkok?

[RaysFan]

Hi, I have tried searching this forum but the results havent matched exactly what I'm looking for. I am a 27 year old American, not married to a Thai. How can I buy condos? I would like to buy around 6 of them and rent them out to support myself there. Can I do this? What are my steps? The purchases would be with cash, not a loan. Thanks.

[bkkjames]

Go to the real estate forum on here. Plenty of info there.

[RaysFan]

This topic is not relevant here?

1. Thailand Forum
   
2. → Business in Thailand, Jobs in Thailand
   
3. → Real Estate, housing, house and land ownership
   

[bkkjames]

This topic is not relevant here?

1. Thailand Forum
   
2. → Business in Thailand, Jobs in Thailand
   
3. → Real Estate, housing, house and land ownership
   

number 3 is your best bet, frequented by guys that are into this stuff.

[bkkjames]

LOL very sorry, too much time in front of the computer, saw the bangkok and thought you posted in the bankok forum, I'll get my hat now

[RaysFan]

Lol, no problem, I was just searching for a general real estate forum.... you sent me on a wild goose chase!

[54321]

Off plan

Book the condo and sign the contract

Pay installments whilst it is being built

On completion transfer the funds (in your home currency) for the full purchase price from your overseas account in your name to a thai account in your name

Get a bankers draft (or maybe bankers cheque) from your bank for the full amount less installments

take it to the developer who (if they are decent such as Q House or LPN) will transfer the title too you

Its very easy and simple

[hyperdimension]

take it to the developer who (if they are decent such as Q House or LPN) will transfer the title too you

What if the developer is not decent?

Which ones would you consider as decent, and which as not decent?

[aussiebebe]

take it to the developer who (if they are decent such as Q House or LPN) will transfer the title too you

What if the developer is not decent?

Which ones would you consider as decent, and which as not decent?

If buying off plan is too risky, you'll pay the least transfer tax (2%) by purchasing a new, completed unit from the developer, plus you'll usually get a good discount from the advertised price as you're paying cash. You pay a small booking fee, then a deposit. At this point it's best to enlist the help of a local law firm, it's not expensive; they will review the contract, give an inspection and advise about potential problems. You transfer the money to your Thai bank account, get the Foreign Exchange Transaction Form and get cashier cheques, usually one for the developer, one for the bank which provided financing, and one for the management company (sinking fund and central fund 1 year in advance).

The lawyer will accompany you to the land office, you'll hand over the cheques and after a wait, receive the blue book (not with your name is as you're not Thai), and the title deed (with your name in Thai script). The transfer tax is usually paid in cash at the land office.