How to buy a condo in Thailand as a foreigner?

[lithtic]

Can someone point me to some information as to how to go about purchasing a condo in Pattaya as a foreigner?

 

 

[grazza2468]

Find a good property lawyer..only buy in foreign quota..do a lot of research...some very bad build quality in Thailand

[david555]

Find a good property lawyer..only buy in foreign quota..do a lot of research...some very bad build quality in Thailand

 

+1 and never ever believe that agent when he try to convince you to make company form , to bypass a in Thai name or company form condo ,as only him and the seller benefit from it because others their  condo stays on market ,unless he dump his price down so much a Thai would buy it ...

 

[chris2004]

1. Don't buy off plan

 

2. Don't buy in company name.

 

3. Buy somewhere central or on a baht bus route.

[davidge]

Agree with all previous comments.

 

Get a good lawyer to check foreign quota in a building before you buy and to transfer ownership properly when you do.

 

Do NOT under any circumstances buy in a company name.

 

Do NOT believe ANYTHING an agent tells you. If possible, avoid them altogether, do your own leg work and buy direct from owner.

 

Do NOT buy off plan unless you are prepared to lose all your money if the project isn't finished.

 

Do NOT look on the purchase as an investment but just somewhere to live. You may not find it easy to sell again.

 

Think carefully about location, transport etc.

[JAI DEE MAK]

Agree with all previous comments.

 

Get a good lawyer to check foreign quota in a building before you buy and to transfer ownership properly when you do.

 

Do NOT under any circumstances buy in a company name.

 

Do NOT believe ANYTHING an agent tells you. If possible, avoid them altogether, do your own leg work and buy direct from owner.

 

Do NOT buy off plan unless you are prepared to lose all your money if the project isn't finished.

 

Do NOT look on the purchase as an investment but just somewhere to live. You may not find it easy to sell again.

 

Think carefully about location, transport etc.

 

 

 

Top advice ignore it at your peril I have purchased and sold and own many apartments here All of the above is correct.

 

If you would like to correspond on this matter PM me. 

 

i am not a relater I am an owner.

 

JDM

[Bangkokbanjo]

Why not a company name. Isnt that the loophole that allows you to own the land itself? Just curious as i would only rent here

 

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[davidge]

Why not a company name. Isnt that the loophole that allows you to own the land itself? Just curious as i would only rent here

 

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Because it is illegal.

A few cases have gone to court and the farang lost the property.

Yes, it has been a common 'Thai way around the law' for a long time but with the current administration I really wouldn't take the chance.

[Bangkokbanjo]

Thanks

 

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[JAI DEE MAK]

Because it is illegal.

A few cases have gone to court and the farang lost the property.

Yes, it has been a common 'Thai way around the law' for a long time but with the current administration I really wouldn't take the chance.

 

Correct big time altho the relaters will tell you a different story HA HA.

 

JDM 

[6853395]

some very bad build quality in Thailand

An extreme understatement.

[KittenKong]

Get a good lawyer to check foreign quota in a building before you buy and to transfer ownership properly when you do.

 

No matter how good your lawyer is he will probably not be able to check the quota. The quota declaration is made by the JPM of the building. Unfortunately if he is an idiot or a crook (both very common here) then the declaration may be wrong. There is not much a lawyer can do to confirm or disprove this as he has no easy access to the full list of chanotes. This is a massive failing of Thai procedure that should be addressed immediately by making the Land Office fully responsible for maintaining the list of owners and percentages, and making them public knowledge.

 

As for the actual transfer, this procedure is fairly watertight and no lawyer should be needed. The Land Office checks the validity of the title, checks for outstanding loans (which are written on the back of the chanote) and makes the name changes. The main thing to watch out for is agents creaming off large percentages (never pay cash), or being sold a different condo to the one you think you are buying.

 

And I tend to subscribe to the theory that the only good lawyer is a dead lawyer. The same probably applies to real estate agents.

[stubby]

And always stay a while in the building where you want to buy remember you cant change your neighbors,check out the committee and ask the people living there about fees and maintenance etc and ALWAYS buy in foreign quota,a condo in a company name also costs you an extra 12k+ per annum and as others said it's not strictly legal.

[grazza2468]

On 6 March 2017 at 4:50 AM, ruay said:

An extreme understatement.

True,but you get the idea! I would never buy in Thailand personally for many reasons!

[LeoTex]

On ‎3‎/‎5‎/‎2017 at 7:50 PM, KittenKong said:

 

And I tend to subscribe to the theory that the only good lawyer is a dead lawyer. The same probably applies to real estate agents.

Reminds me of a book I'm getting ready to read, "Dead Lawyers Don't Lie", I guess this would also hold true to Real Estate Agents.

LeoTex

[jimmyhat1000]

On 06/03/2017 at 8:50 AM, KittenKong said:

 

No matter how good your lawyer is he will probably not be able to check the quota. The quota declaration is made by the JPM of the building. Unfortunately if he is an idiot or a crook (both very common here) then the declaration may be wrong. There is not much a lawyer can do to confirm or disprove this as he has no easy access to the full list of chanotes. This is a massive failing of Thai procedure that should be addressed immediately by making the Land Office fully responsible for maintaining the list of owners and percentages, and making them public knowledge.

 

As for the actual transfer, this procedure is fairly watertight and no lawyer should be needed. The Land Office checks the validity of the title, checks for outstanding loans (which are written on the back of the chanote) and makes the name changes. The main thing to watch out for is agents creaming off large percentages (never pay cash), or being sold a different condo to the one you think you are buying.

 

And I tend to subscribe to the theory that the only good lawyer is a dead lawyer. The same probably applies to real estate agents.

What do you mean never pay cash? When you go to the land office don't you need to bring some cash for the transfer fees if your paying them?

[KittenKong]

1 hour ago, jimmyhat1000 said:

What do you mean never pay cash? When you go to the land office don't you need to bring some cash for the transfer fees if your paying them?

 

Yes, I meant never pay cash to agents or for the unit. You have no choice about paying cash for the fees.

[JAI DEE MAK]

On 3/13/2017 at 9:16 AM, KittenKong said:

 

Yes, I meant never pay cash to agents or for the unit. You have no choice about paying cash for the fees.

Bankers draft stating what you are paying for !!!!

JDM