Selling and buying a condo in Thailand has already been explained.
The resale of the condo is also easy if you follow the following basic steps with regards to property rights and the process of property sales in Thailand.
Similar to a title search for a new condominium project, this step is essential for a purpose of verification of status of the land where a building is located.
Normally, as a used condominium, a land shall not be under mortgage, or, if it is, the buyer would acknowledge his position over such land.
If you buy a condominium from an individual, a sales agreement normally is a ready-to-use contract (An agreement which is not especially drafted for the sale between buyer and seller).
A norm is that a buyer shall pay a full price of property to a seller upon a transfer of ownership at the Land Department.
Registration Of Ownership
To buy a condominium, a buyer (or a seller, or both parties, depending on an agreement between parties) shall be responsible for a registration fee, a stamp duty (in case of having owned the property for more than 5 years) or a special business tax (in case of having owned the property for less than 5%), and a withholding tax.
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