How long does it take to buy condo

[OnMyWay2]

Im trying to plan how long I need to be in Thailand how long does the process take to buy a condo assuming Bangkok isnt shut down at the time.

I know the building already so I just need to open a bank ccount, do the money transfer, ...anything else?

[Lotustrbo]

All depends ... do you have a place picked out? If not then who knows as you have to find a place you like first. Do you already have an attorney? If not I would find one. For my purchase (Actual purchase) only took a day. How that worked was the seller and I agreed to a price, I had money wired from the US into a Thai account went to the bank with my attorney and had two checks cut to the seller. The attorney met with the sellers attorney at the land office to make the transfer and then the condo was mine. Very simple as you the buyer really don't have to do much if you have someone representing you.

Hope this helps if not PM me.

[OnMyWay2]

Thanks for the help I have aplace picked out already. I need to negotiate on the price and find an attorney. It's good to hear that it can all be done in a few days.

[cassde]

I recently purchased mine with the help of a lawyer and it only took a few days. You need to find out the ratio of foreigners owning condo units within the condo building from the Juristic person first though, as only 49% total are allowed. PM me if you want the name of my lawyer located in Nana area of Bangkok.

[Theo007]

When I purchased my condo in Pattaya 11 years ago I did not use a lawyer at all. The British estate agent handled everything for me without any problems. I went to the bank alone, purchased the cheques and then was taken to the Land Office and everything finished very quickly. Perhaps i took a risk however I thought I could trust this agent and my judgement proved to be correct.

[pitchag]

I bought mine in Rayong, viewed the condos phoned the seller negotiated a price and who pays the tax, arranged to meet the seller at the ampour went to the bank for a letter to prove money was sent from overseas for the purchase, I had a bank cheque made out to myself for the amount to purchase.

I met the seller he had the chanotes (deeds) with him for the condos the land office did the transfer of the deeds into my name I paid the tax, all done in a couple of hours. Once the chanotes (deeds) were in my name I signed the bank cheque over to the seller, I had no need for me to employ a lawyer it was a very simple process compared to doing same in Australia.

You just have to check all the maintenance fees, water and electric are paid up to date, this can be done at the condo management office.

Also check the sellers name is on the chanotes as the legal seller

Hope this helps

[KittenKong]

The actual transfer may take only an hour or so, depending on the queue at the land office.

The thing that may slow the process down is obtaining the obligatory debt-free certificate from the condo management office. Some of them take days to issue this (though tea-money can speed this up). But be careful not to get it issued too soon as it is only valid for a few days.

[ruprext]

It can be done in a day if you have the money ready! There is no need for a lawyer. Just go to the land office with the seller, pay your tax, get the papers signed, give them the money. Bank cheque will do. The seller may need a credit check paper, to show there is no dept on the Condo. We ended up having to pay 1000 under the table to bring the tax down from 35000 to 20000.

[thailandbeachisland]

You don't need a useless lawyer who knows less about real estate than what is written on this forum.

The process just takes few hours and can even be faster if you know who to pay to jump the queue <3

[Rooney860]

You do NOT need an attorney! If all the documentation is correct ie fund transfer docs. Don't qaste your money on an attorney.

[Rooney860]

Oops I mean waste!!!

[ChiangraiTony]

I recently purchased mine with the help of a lawyer and it only took a few days. You need to find out the ratio of foreigners owning condo units within the condo building from the Juristic person first though, as only 49% total are allowed. PM me if you want the name of my lawyer located in Nana area of Bangkok.

You'll need to get a letter from the condo to show the percentage of foreigner ownership. You'll also need your THAI bank to issue a letter to show the funds transferred to Thailand from outside the country is for the purpose of purchasing a condo.

Ask to see the original Cha-not (spelled incorrectly) basically the title of the condo to be purchased. Agree on who pays the land office fees/taxes. Generally it's 50/50 owner and seller both pay 50 percent after the land office calculates their numbers.

I have purchased two condos at different periods in time and never used a lawyer. If something is incomplete or incorrect, the land office will let you know. The lawyers only take your money and they really don't do anything that you or the land office will do. At least that has been my experience. Good luck!

[fifthcolumn]

How do you find out that the taxes are all paid up at land office? That should occur before you hand over 1 baht, correct? No, ok you pay me and I will pay my taxes bs.

How do you know if the condo fees are paid up? Can a juristic person inform you of this (quickly)?

Might there be sny issues with outstanding electric bills and could that create problems for you? Most meters are in owners name, but thought I read some nonsense about bills also linked to condo. So, if the condo "owes", no power??

What if a wife is involved? You are buying under foreign quota, but married. Thete is no paper for you to sign away like a house, but it does if effect become half hers.

IMO I would never pay back taxes. As for transfer, I would not pay thst either. I would love to hear from those who have purchased many condos per the stsndard. No commissions and no transfer. That is their problem

Sorry for the hijack

Edited January 21, 2014 by fifthcolumn

[KittenKong]

How do you find out that the taxes are all paid up at land office? That should occur before you hand over 1 baht, correct? No, ok you pay me and I will pay my taxes bs.

What taxes? There are none (apart from the ones that become due when the sale takes place).

And the Land Office wont allow the transfer until those taxes are paid (they are minimal anyway).

How do you know if the condo fees are paid up? Can a juristic person inform you of this (quickly)?

As described much earlier in the thread, the building will issue a debt-free certificate without which the transfer will not take place. This can take a few days to issue, depending on the building and "goodwill".

Might there be sny issues with outstanding electric bills and could that create problems for you? Most meters are in owners name, but thought I read some nonsense about bills also linked to condo. So, if the condo "owes", no power??

See above.

What if a wife is involved? You are buying under foreign quota, but married.

I dont know. Personally I would rather be dead than married but each to his own.