AI-generated illustration. The people and situation are fictional, not actual clients.
General legal information, not advice for a specific case. Check current law and the facts of your situation before acting.
A promising condo listing is not enough reason to send a deposit immediately. I’m Attorney Nok, and I would check whether the building is properly registered, whether foreign ownership capacity remains, and what the contract says if the transfer cannot go ahead.
Suppose Sofia finds a condo near the train line. An agent says she can own it outright and asks for a deposit today, but cannot yet provide confirmation of the building’s foreign ownership proportion. A verbal promise will not solve a problem at the land office.
Foreign ownership of a condominium unit is subject to statutory conditions, including a limit based on the building’s total unit area. Ask for the condominium juristic person’s confirmation, examine the title and encumbrances, check common-area arrears and read the deposit-refund clause. If sending purchase funds from abroad, discuss the required transfer evidence and payment purpose with your bank beforehand.
Check the transfer date and allocation of fees before signing. Owning a condo unit is not the same as owning the underlying land.
Source: Thailand.go.th: Foreign ownership of condominium units ↗