Can A Condo Be Bought With Travelers Checks ?

[hereforgood]

I have a mate that is looking to buy a Condo in My Block . I have always heard that the money must be transferred via a international Wire Transfer. Seems he has the Money here in the form of US and Australian Dollar Travelers checks. Will he be able to buy the Condo using these ?? Thanks for any help you can give me.

[Thaiquila]

Interesting question.

That sounds like quite a challenge.

The issue is he would need a document from a Thai bank saying the funds came in from abroad.

I would be surprised if this can be done, but what he might try if he is working through a real estate agent is to find an agent with a good relationship with a Thai bank. Then, your friend can show documents that he bought the travellers checks outside of Thailand, if your agent can convince a Thai banker to issue that needed document, maybe possible.

I don't think the issue is so much that the funds came in a wire, just that a wire from abroad is clear proof that the funds have come from abroad.

With travellers checks, a person could buy those in Thailand with Thailand sourced funds.

[Sunny Valentine]

Well, as a matter of fact, a person could bring the Thailand sourced funds abroad (buy cash or TCs here), pay them into his foreign (Malaysian, Singaporean) offshore account, and transfer them back by wire.

SO what's the problem?

Sunny

[hereforgood]

Well, as a matter of fact, a person could bring the Thailand sourced funds abroad (buy cash or TCs here), pay them into his foreign (Malaysian, Singaporean) offshore account, and transfer them back by wire.

SO what's the problem?

Sunny

Sunny,

Is there a limit of how much money you can take out of Australia ? If so I am guessing that since he brought over WELL in excess of that amount he would have trouble wiring it back as they will question him how it got here as it was never claimed in the first place yes ??

[N&M]

Casino winnings.

[hereforgood]

UPDATE

He went into his Bangkok Bank Branch and was told they would issued the needed paperwork based on the fact the TC's were in US and Aussie Dollars so all is well.