Jump to content
Sign in to follow this  
bust

Buying Condo Cash

Recommended Posts

I haven't really been following the property scene in LOS for some time. What I want to confirm is a couple of things.

1. Can farang still purchase condo solely in their name?

2. Can a condo be purchased outright and if so what if any are the advantages apart from the obvious of zero mortgage.

3. Are then any conditions on buying and not occupying?

4. Can acquisition funds come from offshore or is a Thai Financial institution required?

5. Best way to avoid paying an inflated farang price.

Cheers

 

Share this post


Link to post
Share on other sites

Parking can be a hassle if you plan to have a vehicle. Most condos and apartments only are required to have parking for 45% of the units or some number like that,

You will have maintenance fees.

 

Share this post


Link to post
Share on other sites
On 9/26/2019 at 1:49 PM, bust said:

I haven't really been following the property scene in LOS for some time. What I want to confirm is a couple of things.

1. Can farang still purchase condo solely in their name?

Yes, I did exactly that in 2008.

2. Can a condo be purchased outright and if so what if any are the advantages apart from the obvious of zero mortgage.

Yes, outright, from the developer. They do all the paperwork.

Advantages:

Your own home, decorated as you wish and always there. My house papers have my daughter in it, so the condo is hers when I go away.

Cons:
If the place turns into a slum, you have no way out. Mine is as good as on day 1 and even getting better.

3. Are then any conditions on buying and not occupying?

There is an agency that caters solely for sales and rentals within the complex (1,320 condos) so I guess it is not a problem.

4. Can acquisition funds come from offshore or is a Thai Financial institution required?

Must come from outside. The vendor gives you a proof and opening of the account just for that transaction. The funds must come from overseas in a convertible currency. To the vendor, it is always cash, whether your own or via a bank loan, even if it is a Thai bank, say, in Singapore.

If your question is whether you can send the funds without a middle man (a bank or other financial institution), not sure. Someone would have to handle that kind of money, not like sending privately to some account.

5. Best way to avoid paying an inflated farang price.

Buy where Thais buy. Bang Na for example. There you have everything, all the stores and restaurants and shopping malls. Many good places like that.

Parking:

The complex has introduced stickers, gives only 1 sticker per purchasing contracts. Everyone have parking space, although not on title but where you find the space. Without that sticker, cars towed away 500THB fine.

 

Share this post


Link to post
Share on other sites

Maintenance fees: 20,000THB a year for a great swimming pool, tropical garden, jogging track. Lifts, cleaning of common property (I think 20 cleaners a day), security 3 x 8 officers in uniforms, video surveliance.

Many condos, that is why it is not expensive per individual condo.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...