Resale Condos

Foreigners can own a condominium in Thailand in their own name under the Foreign Quota. By law, foreign ownership cannot exceed 49% of the total saleable area of a condominium building, while the remaining 51% must be held under Thai ownership.
When buying a resale unit, the first step is to check the ownership status of the property. If the current owner is a foreigner and the unit is already registered under the Foreign Quota, the ownership can usually be transferred directly to another foreign buyer.
If the unit is currently registered under Thai ownership, the management office must first confirm that there is available space within the building’s 49% Foreign Quota. Once confirmed, the unit may be transferred into the foreign buyer’s name.

Yes. A resale condominium can often be purchased without travelling to Thailand. The buyer can appoint a trusted representative under a Power of Attorney, such as a lawyer, legal adviser, or another authorised person in Thailand, to handle the transfer at the Land Office.
The Power of Attorney must be prepared correctly for the specific transaction and may need notarisation or other certification depending on the buyer’s country of residence.

Yes, to register a condominium in full ownership (Freehold), a foreigner must obtain an FET (Foreign Exchange Transaction) form. This document proves that the funds for the purchase originated from abroad. Our agency helps you open a Thai bank account and correctly transfer funds into it (even if paying with cryptocurrency or cash) so that the bank can issue a valid FET form for the Land Department.

Unlike off-plan properties, where the buyer typically pays only a 1% transfer fee, resale properties involve more taxes: a Transfer Fee (2%), a Stamp Duty (0.5%) or Specific Business Tax (3.3%), and the seller’s income tax. Standard market practice is to split all taxes and fees 50/50 between the buyer and the seller. However, in some cases, we can negotiate for the seller to absorb all these costs.

The transaction cannot be completed until the Land Department receives a “Foreign Quota Certificate” and a clearance letter from the condominium’s Juristic Person confirming that there are no outstanding utility or maintenance fee debts. Our lawyers request these documents in advance and also verify the title deed (Chanote) to ensure there are no bank encumbrances or liens.

What should I look out for when inspecting a resale property in a tropical climate?
A: Aside from checking the general condition of the renovation, three things are critical in the Thai climate: the quality of ventilation, the absence of mold (especially on the ground floors and in corners near windows), and the condition of the air conditioning system. We also recommend inspecting the condition of common areas (pool, gym, hallways), as this is the best indicator of how effectively the management company maintains the building.