how long to get the title from a new build condo

[williamgeorgeallen]

so i posted this question last week but it vanished. i guess it was because i used the developers name in the post. will try again.

i bought 2 condos of plan 4 years ago (my biggest mistake in thailand to date) stage 1 of the project was completed over a year ago and i know the owners are still waiting for their unit titles. many have already made full payment. i bought in stage 2 which looks like being completed this year. i would like to hear how long it took you to get your condo title from anyone who has bought off plan. i dont like the idea of making full payment before i get the title.

[MJCM]

WHat I know (but I have never bought a condo of plan) is that when you pay the final payment, the Condo is transferred to your name and you should get the Title Deed. If not then I think something is fishy. (But I could be wrong)

[aussieinthailand]

I bought my condo off the plane, it took 1/12 and after developer finished maybe 2/3 weeks latter they called and gave a date for payment and paperwork on condo I gave them a cashiers check, not cool to walk around with large amounts of $$$ and they were ok with that. taxes are up to Square meters of condo but developer should give you a ball park figure.

[williamgeorgeallen]

WHat I know (but I have never bought a condo of plan) is that when you pay the final payment, the Condo is transferred to your name and you should get the Title Deed. If not then I think something is fishy. (But I could be wrong)

i know know quite a few people who bought at different projects with the same developer who are all still waiting for their paperwork. i would like to hear from people who have bought finished condos off plan. is is a good idea to pay the final installment without getting the title? does not sound like a good idea to me.

Edited May 12, 2016 by williamgeorgeallen

[derator01]

Let's move this over to the Real Estate Forum.

Topic moved.

[williamgeorgeallen]

I bought my condo off the plane, it took 1/12 and after developer finished maybe 2/3 weeks latter they called and gave a date for payment and paperwork on condo I gave them a cashiers check, not cool to walk around with large amounts of $$$ and they were ok with that. taxes are up to Square meters of condo but developer should give you a ball park figure.

ok i did not understand the 1/12 bit. you got the title the same day you paid? they are charging 6% tax, not sure if it is a land tax or transfer tax. what should the tax rates be?

[MJCM]

WHat I know (but I have never bought a condo of plan) is that when you pay the final payment, the Condo is transferred to your name and you should get the Title Deed. If not then I think something is fishy. (But I could be wrong)

i know know quite a few people who bought at different projects with the same developer who are all still waiting for their paperwork. i would like to hear from people who have bought finished condos off plan. is is a good idea to pay the final installment without getting the title? does not sound like a good idea to me.

+ 1 . I for sure, would not pay the final installment without getting the title deed.

When I sold my Pattaya Condo, the same time the Title Deed was transferred to the buyer at the Land Office I got the Cashiers Check, so IMO it should be the same for off plan.

[mmail2you]

You should be making final settlement payments at the land office (lo) once final is done at the lo then at the same timer you receive the chanote in your name.

[vision2014]

In Pattaya it can take a long time (I can only speak for Pattaya). PM me if you want more sordid details.

[skatewash]

What does your Sales and Purchase Agreement (S&PA) state? Mine for a condo purchased off-plan stated that final payment was due at registration (at the land office). I went to the land office with a cashier's check and left with a chanote unit title deed, and house registration blue book (tabian bahn). I certainly wouldn't have paid the final payment before going to the land office and receiving documentation of ownership. That's how the Sales and Purchase Agreement that we signed was written.

Regarding taxes due, again, that should be addressed in your S&PA. In my case, I didn't actually pay any taxes. According to the S&PA we were supposed to share the transfer registration fee equally between seller and buyer, but shortly before going to the Land Office the Thai government in an attempt to encourage real estate dropped this fee from 2% of assessed value to 0.1%. So it ended up being such a minuscule amount (couple hundred Baht) that the seller just paid the whole transfer registration fee. In my case the seller ended up paying all the other fees/taxes (1% withholding tax and 3.3% specific business tax). The first draft of my S&PA had all these fees/taxes being shared equally between buyer and seller. I asked it to be amended that only the transfer registration fee would be shared equally, all other fees/taxes would be borne by the seller. I was led to believe this is a typical and customary sharing of the fees/taxes due on registration in Thailand from Rodney Waller's "Buying Property in Thailand: 8 Steps to Success," which can be purchased at any Asia Books store in Thailand.

Finally, just have to add that I had a good chuckle when someone above called an off-plan purchase an off-plane purchase. I'm sure some who do purchase off-plan are indeed just off the plane.

[tolsti]

You might like to go to the Land Office yourself and ask about the Chanote. It may have been used to guarantee a loan by the developer which will need to be cleared before it can be transferred to your name....

[vivasamui]

What does your Sales and Purchase Agreement (S&PA) state? Mine for a condo purchased off-plan stated that final payment was due at registration (at the land office). I went to the land office with a cashier's check and left with a chanote unit title deed, and house registration blue book (tabian bahn). I certainly wouldn't have paid the final payment before going to the land office and receiving documentation of ownership. That's how the Sales and Purchase Agreement that we signed was written.

Regarding taxes due, again, that should be addressed in your S&PA. In my case, I didn't actually pay any taxes. According to the S&PA we were supposed to share the transfer registration fee equally between seller and buyer, but shortly before going to the Land Office the Thai government in an attempt to encourage real estate dropped this fee from 2% of assessed value to 0.1%. So it ended up being such a minuscule amount (couple hundred Baht) that the seller just paid the whole transfer registration fee. In my case the seller ended up paying all the other fees/taxes (1% withholding tax and 3.3% specific business tax). The first draft of my S&PA had all these fees/taxes being shared equally between buyer and seller. I asked it to be amended that only the transfer registration fee would be shared equally, all other fees/taxes would be borne by the seller. I was led to believe this is a typical and customary sharing of the fees/taxes due on registration in Thailand from Rodney Waller's "Buying Property in Thailand: 8 Steps to Success," which can be purchased at any Asia Books store in Thailand.

Finally, just have to add that I had a good chuckle when someone above called an off-plan purchase an off-plane purchase. I'm sure some who do purchase off-plan are indeed just off the plane.

Williamgeorge, read the post by skatewash. Twice. You should make final payment at Land Office and receive title, blue book, and sales/transfer documentation at the same time. The Land Office clerk writes your name into their record book. Is Pattaya or Bangkok different?

I'm amazed people are willing to part with millions of baht to buy property in Thailand without doing basic research. Waller's book will cost you 1000 baht!

[blackcab]

I went to the land office with a cashier's check and left with a chanote unit title deed, and house registration blue book (tabian bahn).

That.

[WorkingTourist]

[…] condo purchased off-plan […] I went to the land office […] and left with a chanote unit title deed, and house registration blue book (tabian bahn).

Isn’t blue book for Thai nationals?

I have my title deed but no “house registration”.

[skatewash]

[…] condo purchased off-plan […] I went to the land office […] and left with a chanote unit title deed, and house registration blue book (tabian bahn).

Isn’t blue book for Thai nationals?

I have my title deed but no “house registration”.

If you purchase a freehold condo unit you should receive a house registration blue book (TR. 14) from the Land Office, which lists the address of the condo unit. However, you will not be listed in that blue tabian bahn if you are not a permanent resident of Thailand. You may obtain from your local Amphoe office a yellow tabian bahn (TR. 13 for non-Thais) in which you will be listed as residing at the condo unit referenced in the blue tabian bahn. In order to obtain a yellow tabian bahn you must possess a blue tabian bahn (which you should receive from the Land Office when you register your condo unit).

In theory, the yellow tabian bahn documents where you live, and could be used by you whenever you have to document your residential address (e.g., at the Immigration Office, at the Tax Office, at the Land Transport Office, at a bank, etc.). In practice it may or may not be accepted. You can try, but often other government agencies will not accept a yellow tabian bahn and will want a different proof of address. If your Amphoe office will give you one relatively easily it doesn't hurt to have and it could possibly save you the trouble of getting a residence certificate from the Immigration Office or your Embassy when proving your address. In my case, it was a straightforward process and cost nothing. The Amphoe office even had a English-Thai guidebook to explain the process. The only onerous requirement for me is that I had to present two Thai witnesses to the Amphoe office who knew me and where I lived (they had to provide copies of their Thai ID card and their own tabian bahn).

I haven't had the opportunity to use my yellow tabian bahn yet. I've been told that it won't be accepted by the Land Transport Office, but since I'm in the third year of my 5-year driver's license it will be a while before I know that from personal experience. I suspect it may be accepted by a bank if one tried to open a new account. It might even be accepted by the Tax Office. I got it less for the supposed usefulness to me, although I would really like to reduce the occasions I have to pay the Immigration Office for a residence certificate, and more because it was something of a learning experience. I was pleasantly surprised my Amphoe knew what I was talking about and had a documented process in place for obtaining one. I understand other Amphoe offices are not nearly so accommodating, so I know I was fortunate. I may try and push my luck and see if I can obtain the pink Thai ID card for non-Thais. Again, mostly as a sort of challenge than because it will greatly benefit me. So far I've gotten a green book (motorcycle registration), blue book (condo unit registration) and a yellow book (tabian bahn for foreigners), why not add a pink card to the collection of colors?