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Can you buy a condo in Thailand under a foreign name without being in the country?
Thai condo purchaseForeign ownership in ThailandPower of attorneyReal estate advice ThailandCondo investmentRenting in ThailandLegal advice ThailandThai condominium market
Sep 28, 2020
6 years ago
Tal ********
ORIGINAL POSTERAnd everything else question:
I was told by a realtor that I can buy a condo under a foreign name without being in Thailand. Have anyone tried that?
I was told by a realtor that I can buy a condo under a foreign name without being in Thailand. Have anyone tried that?
TLDR : Answer Summary
Yes, it is possible to buy a condo in Thailand under a foreign name without being present in the country, but it involves additional paperwork and risks. Many recommend using a power of attorney and a lawyer to facilitate the process, as this is safer and more organized. Some users express concerns about the risks of doing this remotely, highlighting the importance of verifying the legitimacy of the investments due to potential fraud in a competitive and desperate market. Investors are cautioned about the current rental market's oversupply and are advised to consider buying under a Thai name, especially if they have a Thai spouse, to save significantly on costs.
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Tim ******
If you already have a Thai wife. Why not buy in Thai name. Thai name condos can be millions cheaper than foreign name.
Chan ****
@Tim *****
, don't put all your eggs in one basket. The reason for a condo is to put a foreign name into the title deed. Not all condo projects have their foreign quota of 49% used up. Worthwhile to check.Tim ******
@Chan ***
If you already have a Thai wife, you are screwed anyway. Might as well save a heap of money and buy in Thai name.Chan ****
@Tim *****
, save a heap of money? The way to save a heap of money is to bid in a foreclosure auction for a condo owned by a Thai but which can be owned by a foreigner as the 49% quota is still not used up. This is especially true for old condos. See mine that was bought in 2007:****************************
Tim ******
@Chan ***
Thai people don’t usually like buying condos, which means there is always an abundance of the 51% Thai quoter sitting empty. Example. The condo where I live foreign ownership will cost you around 4 million Baht starting. If you went to Thai ownership, you would save at least 1 million Baht. It is almost impossible to fill the 51% Thai quoter in condos.Tal ********
ORIGINAL POSTER@Tim *****
Which condo is that? Would probably buy a unit just to be invited to one of your house parties...😜 Tim ******
@Tal *******
View Talay 6. It’s the only building I buy into. Just personal preference. Tal ********
ORIGINAL POSTER@Tim *****
Can u send me the info of the lawyer that u used?Tim ******
@Tal *******
I only have her Line id. Give me you Line id and I will forward it to you. Tal ********
ORIGINAL POSTERReply to
Tal ********
Reply
Michel *************
Possible but beware, plenty of crooks in a deseperate market! I did something close to that few years ago....
Chan ****
Condominium living is community living. How can you buy one without first visiting the community?
Jimmy ******
Rental yields are very low in bkk and tons of new condos being built
Tal ********
ORIGINAL POSTER@Chan ***
It's for investment, I trust my thai family enough to let them inspect it for me.Chan ****
@Tal *******
, investment as in getting a rental income, or a speculation on capital gain?Tal ********
ORIGINAL POSTER@Chan ***
Rental income. Chan ****
@Tal *******
, there is a serious oversupply of rental space, and demand is falling, from increase unemployment of the locals and an exodus of foreigners. Tal ********
ORIGINAL POSTER@Chan ***
And the prices have dropped accordingly...Chan ****
@Tal *******
, my advice is location and foreclosure auctions by the Legal Execution Department of the courts:********************
You might get your choice condo at a third of the price of the open market.
Reply to
Chan ****
Reply
Alex ********
To actually answer your question....
Yes you can buy a condo in Thailand without being there.
Just takes a little longer processing paperwork that needs to be sent to you and returned.
Would I do it without being there.....NO WAY
Yes you can buy a condo in Thailand without being there.
Just takes a little longer processing paperwork that needs to be sent to you and returned.
Would I do it without being there.....NO WAY
Alex ********
Or just wait a few months and go buy yourself.
There will be plenty of cheap ones on the market
There will be plenty of cheap ones on the market
Tal ********
ORIGINAL POSTER@Alex *******
Why wouldn't you?Our other option in this time is too buy the unit under my thai wife's parents name. Assuming there is no risk of them selling it (***Troll food 🤗***) what is the better option?
Alex ********
@Tal *******
ok....so you know the condo or have people that can verify it is what you are ok paying for.Yes lawyer can do that but they won't take into consideration tastes.
If you have faith in your lawyer and faith in your seller then go ahead
Reply to
Alex ********
Reply
Otto *********
Why would you want to buy a condo in the name of somebody else? If you want to get rid of your money, I can give you my account data...
John *********
@Otto ********
have you got out of bed this morning on the wrong side *****
Maya *******
@John ********
now days many people do... 😕Reply to
Maya *******
Reply
Tal ********
ORIGINAL POSTER@Otto ********
My Foreign name 😅James ***********
@Otto ********
he didn’t say that...Reply to
James ***********
Reply
Tom ********
Power of attorney and having to prove where the funds came from. I used a lawyer and was in country. Much, much safer to be there
Tal ********
ORIGINAL POSTER@Tom *******
Not too easy these days...Tom ********
@Tal *******
not too easy to do what?Tal ********
ORIGINAL POSTER@Tom *******
To Be thereReply to
Tal ********
Reply
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