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Buying A Condo Question.

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I have been thinking about buying a condo in Thailand for a good while now, this year may just be the time I actually do it - or not.....................

Last night I was chatting to a bloke who has just bought one and he said you can't buy without the correct visa in your passport. In other words a 30 day waiver stamp won't do the job.

Got to admit I hadn't considered this so my question is what type of visa do you need to buy a condo in Thailand?.

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I've bought on the 30-day permission to stay. If you are going to file for the Farang 49% quota make sure you fill out the form substantiating that the funds for the purchase came from outside Thailand.

The following is advice from Siam Legal

"The second restriction on foreign condo ownership is a requirement that the foreigner pay for the condo with foreign currency. The foreign currency must be transferred into Thailand and converted into Baht within Thailand. Notice that this requirement prohibits foreigners from financing their condo purchase with a mortgage. Make sure that the money transfer comes from a foreign account in the buyers name or is transferred to an account in the buyer's name. If you bring in cash, make sure to get a receipt showing this from customs. If you are married and purchasing joint property, make sure the transfer is in both of your names. Thai law requires that a Foreign Exchange Transaction Form (FETF) be filed for large foreign currency transactions; make sure you keep copies for your records."

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Better to rent imo

Depends on your circumstances. Full time living in Thailand, and under fifty years I would say consider buying in a popular building that's well established and well run.

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You can buy on any visa, amazingly you need an O or Work or retirement to buy a vehicle....

I understand the tax now is 0.01% or something very very low, there are some good deals about ...But there always are...

I know many people who just came on 30 day waivers and bought, that said perhaps its changed ??? So maybe he is right...

Good luck with it..

A few have tried to tell me this before.....

I say a load of ***** you can buy any thing you like here car bike truck wise.

I had a truck with a green plate and got it into my own name just transferred owners on 2 bikes and a truck no problem on any of them at all no visas asked for just the info page of your passport.

One time i had a clark say to me i can't put the truck in my own name i more or less said *******'S its not for you to decide immigration have already said yes by giving me the paper to buy a car.

Go ask your supervisor.... and the supervisor came over and said yes its not for us to decide and he has the paper so do it...

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Depends on your circumstances. Full time living in Thailand, and under fifty years I would say consider buying in a popular building that's well established and well run.

Well say his budget is say 2.5mill bt or 50k GBP

I would buy a place in England somewhere like Darlington

Rent that out and then use that money to rent in Pattaya

jmo

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Well say his budget is say 2.5mill bt or 50k GBP

I would buy a place in England somewhere like Darlington

Rent that out and then use that money to rent in Pattaya

jmo

Always the better option financially. But some people like a place to be their own and can change. Seem no end to new builds in Pattaya.

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Every new purchases they asked for the proof of immigration , also when selling at Chonburi and Highway 36 they all wanted it ?

That was my experience

Yes the paper to say you selling/buying a bike tuck car...form immigration....

But you don't need a visa.

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Simply not true , if a person pays over the odds in Darlington rather than steals a place here , what about the guy who made a million sterling buying and selling here.

As with the under 50 if he dies at 52 or lives to 80 many many unknowns buying here is a risk , if you can't afford to walk away don't buy.

Too many variables. Yes depends where the steal is.

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As this is Thailand it wouldn't be a shock to anyone if there were inconsistencies in the way the law is interpreted :unknw:

Guess the only way to find out for certain is when you actually do it - I haven't even thought about going out and kicking any tires yet ..........................................

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Bought my first car on a 30 day stamp. When I wanted to change it to my name, the officer in Suratthani told me it was not possible.

I was persisting so he brought a huge book with many pages, spend some time looking through it. Then he said, "I got a headache" and stamped the papers.

He refused to take some red notes to buy some Aspirin.

I still believe it is not normal to do so, might have changed recently, but as always depends on the person and area you are dealing with.

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Well I woiuld rather rent than buy as I said earlier

For 50k you can get something like this in Darlington

http://www.rightmove.co.UK/property-for-sale/property-51909004.html

Rent it out for 500-600

And rent a nice house in Pattaya for 25k-30k (I dont do condos ,fear of heights lol)

Cheaper than Bristol or Cotswolds for sure.

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You are living in fantasy land if you think you will get 14% yield not a chance ....

Your rental income will be 290 a month after fees 255 gas insurance 225 , tax minimum 45 leaving you 180 that's with nothing for repairs.

9000 baht a month maximum to rent a nice house a long from your 30,000 projection mate.

He's living in Thailand so first 10k pounds earned on rental is tax free. I just insured my 2 bed rental for 130 quid. Do think his rental amount is slightly off. I get 450 quid a month from my property which I bought for 20k in 98.

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He's living in Thailand so first 10k pounds earned on rental is tax free. I just insured my 2 bed rental for 130 quid. Do think his rental amount is slightly off. I get 450 quid a month from my property which I bought for 20k in 98.

Yep you're right 400 would be nearer the mark

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Every new purchases they asked for the proof of immigration , also when selling at Chonburi and Highway 36 they all wanted it ?

That was my experience

Yes. I had to get a letter from immigration years ago to buy a second hand motorbike. I wasn't allowed a new one without a non O visa.

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