Paying For A Condo

[isawasnake]

Hello all,

I was hoping some of you could outline the procedure for purchasing a condo in Thailand. The situation is that the money is already here in Thailand in my wife's account, and they are asking for the payment in the form of a cashier's check.

The condo is being completed now (ie new), and the room was recently checked by me. I'll go back and see that they have fixed the problems, and we all agreed payment may take place at the end of this month, assuming all goes well.

I will be at work during the potential payment date, and my concerns are mainly about the process of receiving the chanote. My wife will most likely have to take care of the purchase herself, and just wanted to make sure I made her aware of any potential pitfalls, as I have no experience with this. Will she go to the land office and get the chanote herself, or will the condo be assisting us with this?

Thanks for any help.

Edited October 13, 2012 by isawasnake

[sotsira]

Depending whether the condo will be bought in your name or your wifes' affects the procedure with the money

transaction.

As for the issuing of the chanote, that depends on the developers agreement with you or your wife.

From my experience in buying off plan the developer issued the chanote without me going to the land office.

[isawasnake]

Forgive me. It will be in my wife's name.

[sotsira]

If your wife is Thai then a straight forward payment is made to the developer upon completion

of the condo.

If it was in a foreign owners name then proof would be needed from your bank that the funds came from overseas,

unless your working in Thailand with a work permit.

It's also normal to pay a sinking fund charge and one year maintenance in advance, also the taxes to the land office

before the chanote is issued.

[isawasnake]

Yes, she's Thai. In short, it sounds like the developer will take care of the chanote for the most part. It sounds very straight forward. Thanks for the help.