Buying a condominium as a foreign buyer

Step 1

Taking your brief and working out what you need

We begin by asking for the basic information, such as:

• Nationality
• Country of residence
• Budget
• Preferred location
• Buying to live in or to invest
• A new unit or a resale
• How the purchase will be paid for
• Source of funds
• The timeframe you are working to
• Whether you will attend in person or act through a power of attorney

Step 2

Checking that you are able to hold title

Before anything else, we check whether you are in a position to hold title to a condominium unit in Thailand. The check may include:

• The buyer's nationality and status
• The share of the building already held in foreign ownership
• Source of funds
• How the funds will be remitted from abroad
• Marital status
• The documents required on the transfer day
• Whether a power of attorney will be needed

Step 3

Searching for and shortlisting condominiums

We help you search for and shortlist suitable units, weighing both the ordinary questions and the ones that arise only for a foreign buyer:

• Location and transport links
• The sale price
• The condition of the project
• The condition of the unit
• The common area fee
• How well it would suit letting
• How easily it can be managed from abroad
• Restrictions on letting
• The share of foreign ownership in the building
• Whether the unit is in a position to be transferred to a foreign buyer

Step 4

Viewing the unit on your behalf

If you are outside Thailand, we can act for you:

• View the unit on your behalf
• Take photographs and video
• Walk you through the unit on a live video call
• Check the common areas
• Check the surrounding area
• Report the advantages, the drawbacks and the risks
• Compare several units and projects for you

Step 6

Legal due diligence on the unit

We carry out legal due diligence before you pay any substantial sum. The scope of that check may include:

• The condominium title deed
• The name of the current registered owner
• Any mortgage over the unit
• Any seizure or registered restraint
• Encumbrances
• Restrictions on transfer
• Arrears of common area fees
• The debt-free certificate
• The share of foreign ownership in the building
• The regulations of the condominium juristic person
• Rights to parking
• Restrictions on letting
• Disputes or legal problems connected with the unit

Step 7

Reviewing and drawing up the booking agreement

We review or draw up the booking agreement so that its terms protect a foreign buyer, for example:

• The booking payment is returnable if a legal problem is found
• The booking payment is returnable if the foreign quota is not sufficient
• The booking payment is returnable if ownership cannot be transferred to you
• The seller must provide the full set of transfer documents
• The seller must discharge the mortgage before or at the transfer
• The list of furniture and fittings
• The terms on which the unit is inspected are stated
• Liability on breach of contract

Step 8

Reviewing and negotiating the sale and purchase agreement

We review, draft or amend the sale and purchase agreement so that it protects you on points such as:

• The foreign buyer's eligibility to hold title
• The foreign ownership quota
• The remittance of funds from abroad
• The evidence issued by the bank
• The payment schedule
• Discharge of the existing mortgage
• The inspection of the unit
• The handover of the unit
• How taxes and fees are divided between the parties
• The refund terms
• What happens if ownership cannot be transferred
• The grant of a power of attorney
• The preparation of bilingual documents

Step 10

Inspecting the unit before the transfer

We can attend the inspection on your behalf and check the basic condition, such as:

• Floors, walls and ceilings
• Doors and windows
• The electrical system
• The water supply
• Air conditioning
• Sanitary ware
• Drainage
• Signs of leaks
• Cracks
• Furniture
• Electrical appliances
• Keys and building access cards
• Water and electricity meters

We send you photographs, video and a report, and draw up a list of defects for the seller to put right.

Step 11

Inspection by an engineer or specialist

If you cannot inspect the unit yourself, or want more certainty before the transfer, we can bring in a snagging inspector or an engineer to carry out a detailed inspection. It may cover:

• The electrical system
• The water supply
• Damp
• Water ingress
• The level and fall of the floor
• The quality of the installation work
• The air-conditioning system
• Built-in joinery
• Doors and windows
• The condition of walls and ceilings
• The quality of the construction and finishing work

We send you the report and use its findings in pressing the seller to put matters right before the transfer date.

Step 12

Checking the repairs

Once the seller has dealt with the defects, we coordinate a second inspection and report to you. If they have not been fully put right, we advise you on the options, such as:

• Ask the seller to carry out further repairs
• Postpone the transfer date
• Negotiate a reduction in the price
• Negotiate for part of the price to be held back
• Record the seller's outstanding obligations in writing

Step 16

Taking delivery of the unit and the documents

After the transfer, we check that you have received everything due to you, such as:

• The condominium title deed
• The sale contract issued by the Land Office
• The receipts for the fees and taxes
• The keys
• The building access card
• The parking remote
• The warranty documents
• The receipt for the common area fees
• The inspection report
• The list of furniture and property in the unit