The team at Keller Henson detailed below the important documents involved when purchasing of a property in Thailand:
This document shows the details of the condominium unit purchased and the buyer(s) details. The quotation will also specify the terms and conditions associated with the purchase of the condominium unit.
The Sales and Purchase Agreement
It is the official contract between the buyer and the developer. This is your proof of purchase. It is very important to safely store the original copy.
The Official Receipt(s)
These are your proofs of payment to the developer. It’s proof that your transfer successfully reached the developer’s account.
The Credit Advice/FETF
It is the official document from the receiving Thai bank issued for each overseas transfer that you did. It is required by the Land Department for the transfer of ownership.
The Bank Guarantee Letter
It is the official document from the receiving Thai bank proving that funds are coming from overseas. This letter goes along the credit advice/FETF. It is required by the Land Department for the transfer of ownership.
The Title Deed (Chanote)
The official proof of ownership of the condominium unit. On the front side, this document shows the details of the condominium unit (project name, address, size, unit number, floor.) The details of the owner are shown on the back side.
Chanote front side:
Chanote back side:
The House Registration Book. (Blue/Yellow Book – Tabien Baan).
In Thailand, each property must have a house registration book (blue book – Tabien Baan) along the title deed. An owner of property in Thailand is allowed to include only 1 property in the house registration book. The house registration book is usually blue, it shall be yellow if the registered owner is a foreigner.
Having a property registered in the house registration book will entitle to lower stamp duty fee in case of you resale your property within less than 5 years.
Before buying a new condominium in Thailand, what shall I always check?
Before purchasing a new condominium in Thailand, as a buyer you shall always check if the seller has the legal document required for a real estate development. The important document that you shall always have when buying in a new development in Thailand are the following:
- The EIA
- The Building Permit
- The Land Title Deed
- The Developer company documents
- The Director(s) ID copy
The EIA: Environmental and Industrial Act
The EIA in Thailand allows the construction plan of the condominium and its drawings. This document is given by the Thai Government.
The Building Permit:
The Building Permit in Thailand allows the start of the project’s construction. This document is given by the Thai Government.
The Land Title Deed (Chanote):
The Land Title Deed is the legal document showing the legal owner the land. If the land is under a mortgage, the name of a bank will appear beside the last owner name. Its important to check if the developer legally own the land or if the land is mortgaged.
The Company Registration (affidavit):
The company affidavit is the official registration document from a company. The logo of the Thailand DBD (Department Business Development) must appear on this document. On the company registration (affidavit), the most important information to check are the company ID number, the capital of the company, the director names and the company name.
The company name has to match with the owner name on the Land Title Deed. The director(s) name(s) must match with the director(s) ID copy.
The affidavit also shows other legal information such as the company address, authorized signatory, company objectives etc.
The Director(s) ID copy:
The Director(s) ID copy must match with the director(s) name(s) written on the company registration document (affidavit).