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In Topic: Document Check List For Condo Purchase
2010-11-10 19:25:06
Not sure exactly why my father's and mother's name were requested; I think it's used as a check by Land Dept office to ensure that no one is masquerading as the chanote title holder to sell a property in a fraudulent way. As for marriage or divorce certificate, it probably has to do with farang/Thai lady marriages and whether the Thai lady would have a claim on the property in the event of a divorce. Not sure, really, but the developer, Asian Property, wanted these documents to do each transfer that I have done with them.
In Topic: Document Check List For Condo Purchase
2010-11-09 05:09:08
You need to confirm with the developer what documents you need to provide in order to do the transfer of ownership from developer to you. In the past, I have supplied following documents to a developer to do transfer for me:
1. copies of my passport (if you are non-Thai)
2. copy of my birth certificate showing mother and father's name
3. copy of marriage or divorce certificate
4. original of Foreign Exchange Transaction Form showing converted baht amount exceeds the
transaction value to be used at transfer of ownership. These orginals are kept by Land Dept office and
not returned to the transferring parties. When repatriating funds upon sale of condo, Bangkok Bank
has never asked to see copy of FETF's showing import of funds. The reason that BB is not interested
in the FETF is that there is no trace on FETF showing which condo transaction the FETF was used for.
Other documents are required for the export of funds, but not the FETF.
5. A Power of Attorney if developer is to represent you at the Lands Dept.
6. Bank cheque for the final installment plus fees due to developer and Lands Dept.
This is pretty much complete list of documents that you have to supply to developer, but you should ask your developer what is needed.
1. copies of my passport (if you are non-Thai)
2. copy of my birth certificate showing mother and father's name
3. copy of marriage or divorce certificate
4. original of Foreign Exchange Transaction Form showing converted baht amount exceeds the
transaction value to be used at transfer of ownership. These orginals are kept by Land Dept office and
not returned to the transferring parties. When repatriating funds upon sale of condo, Bangkok Bank
has never asked to see copy of FETF's showing import of funds. The reason that BB is not interested
in the FETF is that there is no trace on FETF showing which condo transaction the FETF was used for.
Other documents are required for the export of funds, but not the FETF.
5. A Power of Attorney if developer is to represent you at the Lands Dept.
6. Bank cheque for the final installment plus fees due to developer and Lands Dept.
This is pretty much complete list of documents that you have to supply to developer, but you should ask your developer what is needed.
In Topic: Who Has Bought or Sold Their Own Property In The Last Few Months?
2010-10-27 18:08:05
zen, I have to tell you that you are one of very few, who after asking for advice, getting it, then coming back to say "thank you".
In Topic: Who Has Bought or Sold Their Own Property In The Last Few Months?
2010-10-26 03:09:37
Zen, the answer is yes, you can pay A or B or C or D with local funds. This is payment to developer; it matters not where the funds come from.
Getting approval from Lands Dept to transfer ownership is a separate matter. You must have the FETF's showing an amount equal to or greater than E to get the transfer of ownership from developer to you. Where the remitted funds of E are actually or eventually used is up to you as a separate matter. You need not show that the remitted funds of E were paid to developer.
Getting approval from Lands Dept to transfer ownership is a separate matter. You must have the FETF's showing an amount equal to or greater than E to get the transfer of ownership from developer to you. Where the remitted funds of E are actually or eventually used is up to you as a separate matter. You need not show that the remitted funds of E were paid to developer.
In Topic: Who Has Bought or Sold Their Own Property In The Last Few Months?
2010-10-25 17:15:44
I assume you are not a Thai national, that the title of the condo will be in your name, and that you are buying from a developer. If so, you need to ask a question of the developer:
E. What is the number that the developer will use as the transaction value to be supplied to Lands Dept office when doing the transfer of ownership from the developer to you? Normally, E =A+B+C, but it may be different.
This is when the developer has completed the job and you have to pay the remaining balance, being C. At that time, you need to supply to the developer forms known as "Foreign Exchange Transaction Form" which you get from your receiving bank showing that you have remitted into Thailand foreign funds that when converted into Thai baht is equal to or greater than the value of E. Ask your receiving bank about how to obtain this form and what is the minimum amount that must be remitted in each remittance to have this form issued. Instruction on the remittance must state that funds are for "purchase of condominium".
How you pay for A, B, C, and D can be from local funds or from remitted funds. But you have to supply the FETF's to Lands Dept for them to transfer ownership of the condo to you. This assumes also that the total non-Thai ownership of the condo project will not exceed 49%.
E. What is the number that the developer will use as the transaction value to be supplied to Lands Dept office when doing the transfer of ownership from the developer to you? Normally, E =A+B+C, but it may be different.
This is when the developer has completed the job and you have to pay the remaining balance, being C. At that time, you need to supply to the developer forms known as "Foreign Exchange Transaction Form" which you get from your receiving bank showing that you have remitted into Thailand foreign funds that when converted into Thai baht is equal to or greater than the value of E. Ask your receiving bank about how to obtain this form and what is the minimum amount that must be remitted in each remittance to have this form issued. Instruction on the remittance must state that funds are for "purchase of condominium".
How you pay for A, B, C, and D can be from local funds or from remitted funds. But you have to supply the FETF's to Lands Dept for them to transfer ownership of the condo to you. This assumes also that the total non-Thai ownership of the condo project will not exceed 49%.
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