Selling my condo's downpayment (before transfer)

[Zen]

I bought a condo off plan and the construction is almost complete.

So far i have paid about 500,000baht as downpayment.

I am selling via an agent who says his client already paid him a "booking fee" and the money will arrive in my account by Friday.

My agent wants to meet me to sort out some documents. What should I be careful about when dealing this kind of transaction? I have never sold "downpayment" before.

Friends warn me not to transfer if the money has not arrived in my Bank. But i'm wondering if the agent will ask me to sign 101 documents.

This agent is supposed to be from an established agency.

[ballbreaker]

I would talk with the developer you purchased the condo and find out how to transfer your purchase contract to another person.

The path your agent has taken seems full of danger for you and the person buying your down payment.

Edited December 3, 2013 by ballbreaker

[ya5702]

I believe your sale is called a "Reassigned" sale. You were assigned the original purchase contract from the Developer, and you are now reassigning the Purchase Contract to another Buyer.

I bought a condo in BKK under the same circumstance from the Seller (a UK citizen.) We split the THB100,000 "Reassignment Fee" 50/50.

I transferred my foreign funds in full for an outright purchase of the condo directly from my bank to the Developer's bank in Thailand. The Developer deducted whatever that was due to them, and paid the balance to the Seller. No middle person/Agent/Lawyer was involved. Easy and neat.

Work the sale through your Developer.

[rayongchelsea]

Talk to the developer and inform them of what you are doing.

In your original contract there is sometimes a clause where you have pay commission to them ( the developer )for transferring.

Sent from my iPad using Thaivisa Connect Thailand mobile app

[54321]

As far as I am concerned you need:

To meet in the developers office

To agree the fee to change names on the contract

Get a cashiers check for the full amount you require from the buyer ( deposit and down payments and any surplus)

Call the bank with the cheque number etc to confirm it is genuine

Sign over the rights to buy

Go with the agent to deposit the cheque

Withdraw the funds needed from the cleared cheque to pay the agent any fees