Foreign ownership of Condominium Property according to Thai Law, foreigners may own 49 percent of aggregate saleable unit space of a condominium building while the remaining 51 percent must be owned by either Thai nationals or majority owned Thai companies.
Make a deposit of THB 200,000 for 1 bedroom which is completely recoverable by deduction from the contractual payment.
The Sales and Purchase Agreement is to be signed within a short period following the reservation. 30% of total value deducted reservation fee is required upon the signing of the agreement
Balance on transfer remaining (70%)
The Purchaser agrees to settle the Purchasing Price as above mentioned Clause 3 to the Seller divided into the installments and shall be applied against the Purchasing Price under this Agreement which paid by the Purchaser from the first to the third installment and the Seller has already received, details of installment as below;
(1) The 1st installment amount 200,000 Baht as the reservation fee on the date of execution of the Reservation Agreement.
(2) The 2nd installment amount………………..Baht which, together with the Deposit, is 30% of the Purchasing Price, shall be paid upon the date of execution of this Agreement, no later than 30 days from signing the Reservation Agreement.
(3) The 3rd installment amount……………….Baht or 20% of the Purchasing Price, shall be paid within 7 days after received a notice in writing from the Seller that the first floor of construction structure has been completed.
(4) The 4th installment amount…………………Baht or 20% of the Purchasing Price, shall be paid within 7 days after received a notice in writing from the Seller that the third floor of construction structure and the roof of construction structure of the Condominium Unit has been completed.
(5) The final installment amount…………………Baht or 30% of the Purchasing Price, shall be paid on the date of registration to transfer the ownership of the Condominium Unit.
(6) The Purchaser agrees to pay the Purchasing Price to the Seller under this Agreement in cash, cheque, bank draft, cashier cheque, or bank transfer to the Seller’s bank account as detailed below:
Account Name: Wilson High Property Co., Ltd.
Account Type: Saving
Account Number: 573 7 047661
Bank Name: Bangkok Bank,
Address: Kamala, Kathu, Phuket 83120
SWIFT CODE: KASITHBK
Messages: Pay for Condominium Unit no…………building…………
Project “phukris D1 BOUTIQUE CONDOMINIUM”
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) SINKING FUND - This payment is THB600 per square meter and is payable upon transfer of title deed.
C) Advanced Juristic Fees - Paid in advance on THB90 per square meter per month basis.
D) Mortgage fee, Electricity meter installation and insurance fee.
Information provided should be used as a guideline only. We suggest that you refer to our professional sales team at email@example.com or tel.+66 (0)76 385 358and a legal advisor before buying a property in Thailand. Money Transfer: There are 3 options to transfer money
1. Set up local bank account in Bangkok Bank in the name of purchaser and forward funds into the account.
2. Transfer funds to Willson Heigh Property account and Willson Heigh Property shall organize all appropriate paperwork/certificate.
3. In the case the property is purchased via a Thai company, transfers can be made directly to the company bank account.
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 for the purchase of property.