Here I am at the Head Office of Bangkok Bank in Sala Daeng trying and hoping to get the Bank letter confirming that I opened a bank account for Non-resident and has the capacity to pay for the said condo unit.
Yes, Joevy and I are buying a small room to minimize our monthly expenses. The room price is only 180,000 Baht (16 sq.m) and it is an old unit. However the transfer process is a real headache.. been going to several bank branches already and still not done. The bank needs confirmation letter of my salary from our company showing that my salary is enough to buy the room, company registration, work permit, passport and purchase agreement for the room.
As of now I am on my way back to the office as my salary confirmation does not show my middle name as seen in the passport, I have to edit the said document. Luckily, I can use the BTS skytrain to get to the office and back otherwise I will be stuck in the traffic. I just hope this will be finished by today. (not done for that day)
I am back home now after a long day at the bank. The savings account is now done unfortunately it was finished at the last minute so the Cashier's Cheque needed for the issuance of the bank confirmation letter was not issued therefore I have to go back on another day. How sad is that?!?!
I am dead tired, physically and emotionally.
Anyways, for those who are foreigners who want to buy a condo room in Thailand here are the documents required:
1. Passport
2. Work Permit
3. Bank confirmation letter stating that the fund for purchase is transferred from abroad, or if you are a foreigner working in Thailand you need to open a Non-Resident Savings Account (salary confirmation from company and company registration required by the bank) then withdraw the money by issuing a Cashier's cheque to the seller (his passport/ID required) and then ask the bank to issue a bank confirmation.
(Note also that the Non-resident savings account can only be opened at the bank's head office which in my case is in Bangkok Bank in Silom.)
Another thing, the condominium should not exceed 49% of foreigners as residents otherwise the land transfer office will decline the application for deed transfer.
I hope this post will help someone in need of information regarding purchase of a condo unit for foreigner. I had no idea of this process so time and money were wasted. I just hope that the transfer will be done by next week. fingers crossed!
Desk number 5 at the Bangkok bank's office.
It's Monday, the 9th of June 2014 and I can officially say that the room is ours, finally! Yey to us!
I went back to Bangkok Bank head office this morning and was accommodated by the usual smiles of their staff, after perusing my documents, the cheque was issued followed by the confirmation letter. Then, Mr. Sunthorn, the seller proceeded to the land transfer office and after 3 hours called and inform me that the transfer is successfully done.
So happy to finally finish this and thanking and praising God who is the Giver of strength and wealth!