Sat in on a property transfer for sale in Thailand

~ Is there any difference between transfer for purchase? ~

I sat in on a property transfer for sale today that I wondered if there are any differences compared to a buying transfer? There are 17 land offices in Bangkok, and in principle, we visit the office that has jurisdiction over the condominium.

The main difference between purchase and sale is that, during acquisition, the property is purchased under the company’s name, which leads to various questions from land office officials regarding the flow of funds and information about company directors. In contrast, during the sale, the property is already registered under our company’s name, so we are rarely asked such detailed questions. This is partly because the buy-and-resell business model may still not be very common in Thailand.

On the other hand, for individual buyers, rather than the flow of funds, what is most important is ensuring that there are no omissions or errors in the large volume of documents submitted to the land office. Certain documents must include specific wording exactly as required, and even a missing signature is carefully checked. Even a single mistake may prevent the property transfer from being registered or could result in additional, sometimes unreasonable, fees for corrections.

Once the transfer of ownership is successfully completed, we receive the check from the buyer. We then proceed to a nearby bank to deposit it, which completes the settlement. This transaction was also completed smoothly, and it reminded me once again of the importance of accumulating daily experience. Each case requires slightly different procedures and responses, and settlements in Thailand are rarely straightforward. Precisely because of this, I hope to continue approaching each transaction with care and to steadily build on the lessons learned for the future.

Source: Residential in Thailand ~Staying & Living Journey Diary~