Buying a condo in Thailand as a foreigner follows a broadly straightforward process: reserve the unit with a deposit, sign a sale and purchase agreement, remit the full purchase price from abroad in foreign currency to obtain the required Foreign Exchange Transaction documentation, and complete the ownership transfer at the local Land Department office, where transfer fees and taxes are paid and split (by negotiation or convention) between buyer and seller. New-build ('off-plan') purchases from developers follow a staged payment schedule tied to construction milestones, while resale purchases are typically a single lump-sum payment at transfer. Engaging an independent Thai property lawyer for contract review and due diligence is strongly recommended, since developer/agent-provided contracts are drafted to favor the seller.
Because so much of the safety of a Thai property purchase hinges on paper trail (FET documentation) and contract terms drafted by the seller's side, following the correct sequence and getting independent legal review protects against the most common disputes.
Key Facts
Standard sequence: reservation deposit, sale and purchase agreement, fund remittance from abroad, Land Department transfer registration.
Off-plan (new-build) purchases use staged payments tied to construction milestones; resale purchases are typically paid in full at transfer.
Transfer fee (2% of appraised value) and other taxes/fees at the Land Department are conventionally split 50/50 between buyer and seller, though this is negotiable, not statutory.
An independent Thai property lawyer for contract review is strongly recommended, especially for off-plan purchases and any land-adjacent structures (leasehold, company-owned land).
Steps
Reserve the unit — Pay a reservation deposit (typically 1-10% or a fixed sum) to take the unit off market while contracts are prepared.
Review and sign the sale and purchase agreement — Have an independent lawyer review the SPA, particularly clauses on completion timing, penalties, and (for off-plan) the payment schedule.
Remit funds from abroad — Transfer the purchase price in foreign currency from an overseas account, and obtain the Foreign Exchange Transaction form/bank confirmation needed for Land Department registration.
Complete transfer at the Land Department — Attend the local Land Office with the seller (or their representative) to register the transfer, pay applicable fees/taxes, and receive the title deed (chanote) or condo unit title.
Costs
Land Department transfer fee: 2% of appraised value (typically split buyer/seller)
Timelines
Resale condo purchase, reservation to transfer: typically 4-8 weeks
Off-plan condo purchase, deposit to completion: typically 1-3 years depending on construction stage at purchase
Required Documents
Passport
Foreign Exchange Transaction form or bank credit note
Sale and purchase agreement
Condo unit title deed or land title deed (chanote) for the transfer
Common Mistakes
Signing a developer's standard sale and purchase agreement without independent legal review, particularly around completion delay penalties.
Not budgeting for the Land Department transfer fee and other closing costs on top of the purchase price.
Wiring funds without ensuring the correct purpose is stated, jeopardizing the Foreign Exchange Transaction documentation needed at transfer.