The steps
Choose and check the unit. Ask the building's juristic office whether foreign quota is available, and for the common-fee and sinking-fund figures.
Due diligence. A lawyer checks the title deed (chanote), the seller's right to sell, debts on the unit, and the building's licences.
Reservation and contract. Pay a small reservation, then sign a sale contract in English and Thai with clear deadlines and refund terms.
Send the money from abroad. Transfer in foreign currency to a Thai account, stating it's for buying a condo. Ask the bank for the foreign-exchange certificate (FET) or credit advice.
Transfer at the Land Office. Both sides or their representatives attend, pay the fees and taxes, and the title is registered in your name.
What it costs to transfer
| Cost | Rate | Usually paid by |
|---|---|---|
| Transfer fee | 2% of the appraised value | Split 50/50, or as agreed |
| Specific business tax | 3.3%, if the seller owned it under 5 years | Seller |
| Stamp duty | 0.5%, when business tax doesn't apply | Seller |
| Withholding tax | Varies with the seller and holding period | Seller |
Everything is negotiable, so write who pays what in the contract. Off-plan buyers also pay into the building's sinking fund at transfer.
New-build or resale?
New-build (off-plan) units come with payment plans and developer warranties, but you're betting on completion and on the quota still being open. Resale units are what you see, with a history you can check. In Pattaya, resale units are often cheaper per square metre than new launches nearby.