Deadline for condo transfer

[Zen]

I have been paying by instalments the downpayment of my condo. Now the condo is almost completed and the developer wants me to transfer by Dec 2013.

What will happen if i don't transfer by the deadline? I know that the downpayment will be forfeited.

Will i be sued for the remaining amount?

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[bob4you]

I have never heard of anyone getting sued for remainder, you will forfeit your deposits and developer should be happy, try to flip it to another buyer.

[KittenKong]

"What will happen if i don't transfer by the deadline? I know that the downpayment will be forfeited.
Will i be sued for the remaining amount?"

The developer is unlikely to sue you unless he finds it very hard to sell your condo to someone else. It does also depend on who you are and where you are and where you intend being in the future. If you live and work here you are much more exposed to legal action than if you live in Alaska and have no intention of coming back to Thailand.

As suggested, if the current developer price is higher than your contract price then you do have the possibility of trying to sell the contract on and thus minimise your loss. Many people who have bought off-plan here intend doing this at a profit though I am not sure that they will succeed.