Selling one condo to purchase another ?

[rick99]

I'm thinking about an upgrade .   This would entail selling my current foreign freehold condo . .....and purchasing another more expensive one . 

Anybody done this  ? Please advise.

Will my original tor tor Sam be still used for the second purchase  ?   

[Penefattore]

there's little to advise here , just remember selling a condo is way more difficult than buying one , so think just about selling for now... should that miraculously happen , then go look for the new one ... a few days in a guesthouse aren't going to ruin you.

[Queen4ADay]

Many of my foreign clients sell their first condo to reinvest.  The most important thing to do is open a "non-resident baht account" preferably at Bangkok Bank head office on Silom.  They get these transactions better than anyone.  Your original TorTor3 and your purchase agreement will be required along with a certified copy of your passport from your embassy.  When you sell you will bring your sales agreement to them and eventually deposit the funds in that account.  When you buy your next condo you will take that agreement to the bank also. You will request the checks that you need for your closing.  They will prepare them along with the letter for the land office as to source of funds.  It's okay if you made a profit on the first condo. It all counts. 

Just arrange your timing to give yourself a day between transfers so everything goes smoothly. 

BtW you can use the funds to purchase more than 1 condo if you choose. 

Edited November 14, 2016 by Queen4ADay

[kiniyow]

If you do it yourself does this require a work Permit? how about Taxes on the one you sell?

[blackcab]

10 hours ago, kiniyow said:

If you do it yourself does this require a work Permit? how about Taxes on the one you sell?

 

If you are buying or selling your own condo you don't need a work permit. If you are acting as someone's agent and buying or selling property for them then you do need a work permit.

 

Taxes are paid directly to the land office immediately before the sale is finalised.