Buying a condominium in Thailand as a foreigner: checking transfer conditions before signing

What should be checked after selecting a property?

Confirm that the property forms part of a legally registered condominium, then check the seller's authority, unit details and the foreign buyer's eligibility. Foreign ownership must be checked by unit floor area, not simply by the number of units sold. Obtain the project's quota information before signing to establish whether the proposed unit can be transferred.

Why check funding documents before payment?

Confirm the evidence of funds required for transfer against the buyer's eligibility, source of payment and bank arrangements. Where purchase funds will be remitted from overseas, ask the handling bank how the purchase purpose should be recorded and which documents it can issue for Land Department registration after receipt. A payment receipt alone does not establish that all transfer evidence is available. Documents should also explain the relationship between the remitter, recipient and contractual buyer.

What can a lawyer help with?

THAIHOUSING can review reservation and sale documents, check transaction conditions and coordinate payment and transfer arrangements. Provide the buyer's circumstances, project and unit details, payment plan and any signed documents. If delay or refund disputes have already arisen, retain the correspondence as well.

What should be clarified before paying a deposit?

Confirm the contracting party, specific unit, payment recipient, planned transfer date and treatment of money paid if transfer conditions cannot be met. Compare the salesperson's statements about quotas, payment and delivery with the proposed documents. Seek clarification of discrepancies before deciding on payment arrangements.

What if money has already been remitted but the funding evidence is incomplete?

Organise bank remittance receipts, receipt confirmations, an explanation of the relationship between payer and buyer, the contract and correspondence. The bank and lawyer can then identify missing evidence and possible supplementary steps. Whether the gap can be resolved depends on the actual records. Do not backdate documents or rewrite the real transaction history merely to make the paperwork appear consistent.

Which documents guide the work after engaging THAIHOUSING?

The transaction can be progressed through reviewed and revised contracts, authorisation and registration documents, a list of payment and completion conditions, and records of completed steps. These help the client see which conditions are satisfied, what remains outstanding and what is needed before the next payment or transfer. Existing delay or refund disputes can then be addressed through the relevant dispute process.

Is the 49% foreign ownership quota calculated by number of units?

No. Section 19 bis of the Condominium Act uses the total floor area of all units at condominium registration as the basis. The aggregate unit area held by foreigners and relevant foreign juristic persons must not exceed 49%. Units of different sizes cannot simply be counted as equivalent. Obtain the specific project's quota information and include the proposed unit when checking the transfer conditions.

Do all foreign buyers use the same funding evidence?

No. Section 19 ter sets out evidence by buyer-eligibility category. Buyers relying on section 19(5) need evidence of foreign currency remitted from overseas, or funds withdrawn from a non-resident baht account or foreign-currency deposit account, in an amount no less than the condominium price. Other eligibility categories have their own evidence requirements. Confirm the applicable category and bank documents before paying to reduce the risk of having paid without the evidence needed for transfer.

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