aAccording to Thai Law, foreigners may own up to 49 percent of the aggregate saleable unit space of a condominium building, while the remaining 51 percent must be owned by either Thai nationals or Thai majority owned Thai companies.

The Sales Process

Pre-completion payment (12%)

• A) Reservation: Make a deposit of THB 10,000 for 1 bedroom, or THB 20,000 for 2 bedrooms. Deposit is completely recoverable by deduction from the contractual payment.
• B) Signing: The Sales and Purchase Agreement is to be signed within a short period following the reservation. THB30,000 for 1 bedroom, and THB60,000 for 2 bedrooms is required upon the signing of the agreement
• C) Down Payment: Make a payment of 12% of total value of the contractual payment, less THB 30,000 for 1 bedroom, or THB 80,000 for 2 bedrooms, over 14 instalments.

Balance on transfer remaining (88%)

Additional Expenses

• A) Transfer Fee - Calculated as 1% of the sales price (subject to change by government policy) 50% paid by seller, 50% paid by purchaser upon transfer of title deed.
• B) Signing Fund - This payment is THB500 per square metre and is payable upon transfer of title deed.
• C) Advanced Juristic Fees - Paid in advance on THB45per square metre per month basis.
• D) Mortgage fee, Electricity meter installation and insurance fee.

Special benefits for payments made with S-Card
- 10,000 points
Reservation and contract fees are non-refundable in the case that buyers fail to acquire a bank loan

The Sales Process

Money Transfer: There are 3 options to transfer money
1. Set up local bank account in Thailand in the name of purchaser and forward funds into the account.
2. Transfer funds to specified Sansiri bank account and Sansiri shall organisze all appropriate paperwork/certificates.
3. In the case the property is purchased via a Thai company, transfers can be made directly to the company bank account.
Payment Procedure
Foreigners are required to remit at least USD 20,000.00 into Thailand per transfer to receive a FOREX Transfer Form. This form will be needed to transfer the unit under foreign ownership and also remit money back out of Thailand if so needed in the future.
Note:
Conversion to Thai Baht has to be done in Thailand and not before transfer is made into the country. Furthermore, instruction on transfer must state that it is for the purchase of property.

More Information

Disclaimer - Information provided should be used as a guideline only. We suggest that you refer to our professional sales team, at Sales_DBS@SANSIRI.com or Tel. 1685, and consult a legal advisor before buying a property in Thailand.