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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
4 years ago
Tal ********
ORIGINAL POSTER
And 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?
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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.
Poompui ************
4 years ago
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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.
4 years ago
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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.
4 years ago
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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.
4 years ago
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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:

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4 years ago
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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.
4 years ago
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Tal ********
ORIGINAL POSTER
@Tim *****
 Which condo is that? Would probably buy a unit just to be invited to one of your house parties...😜
4 years ago
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Tim ******
@Tal *******
View Talay 6. It’s the only building I buy into. Just personal preference.
4 years ago
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Tal ********
ORIGINAL POSTER
@Tim *****
Can u send me the info of the lawyer that u used?
4 years ago
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Tim ******
@Tal *******
I only have her Line id. Give me you Line id and I will forward it to you.
4 years ago
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Tal ********
ORIGINAL POSTER
@Tim *****
daniel
*****
5

🙏
4 years ago
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Tal ********
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Michel *************
Possible but beware, plenty of crooks in a deseperate market! I did something close to that few years ago....
4 years ago
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Chan ****
Condominium living is community living. How can you buy one without first visiting the community?
4 years ago
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Jimmy ******
Rental yields are very low in bkk and tons of new condos being built
4 years ago
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Tal ********
ORIGINAL POSTER
@Chan ***
It's for investment, I trust my thai family enough to let them inspect it for me.
4 years ago
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Chan ****
@Tal *******
, investment as in getting a rental income, or a speculation on capital gain?
4 years ago
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Tal ********
ORIGINAL POSTER
@Chan ***
Rental income.
4 years ago
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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.
4 years ago
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Tal ********
ORIGINAL POSTER
@Chan ***
And the prices have dropped accordingly...
4 years ago
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Chan ****
@Tal *******
, my advice is location and foreclosure auctions by the Legal Execution Department of the courts:

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You might get your choice condo at a third of the price of the open market.
4 years ago
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Chan ****
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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
4 years ago
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Alex ********
Or just wait a few months and go buy yourself.

There will be plenty of cheap ones on the market
4 years ago
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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?
4 years ago
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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
4 years ago
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Alex ********
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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...
4 years ago
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John *********
@Otto ********
 have you got out of bed this morning on the wrong side
*****
4 years ago
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Maya *******
@John ********
 now days many people do... 😕
4 years ago
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Maya *******
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Tal ********
ORIGINAL POSTER
@Otto ********
 My Foreign name 😅
4 years ago
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James ***********
@Otto ********
 he didn’t say that...
4 years ago
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James ***********
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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
4 years ago
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Tal ********
ORIGINAL POSTER
@Tom *******
Not too easy these days...
4 years ago
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Tom ********
@Tal *******
 not too easy to do what?
4 years ago
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Tal ********
ORIGINAL POSTER
@Tom *******
To Be there
4 years ago
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Tal ********
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