Final Payment on House - advice needed

niggle · Professional Joined: 27 Nov 2006 Posts: 403

OK, I will be coming to HH late March to make final payment on house / keys handover etc. Naturally I do not want to hand over payment until I have checked everything but also need to get money over there ready for my final inspection. I usually transefer bank to bank but does anyone figure that a bank draft would be ok to take with me and would it be ok for a tor tor to be issued

How have others dealt with this issue
Thanks

big jimmy · Specialist Joined: 05 Sep 2006 Posts: 150

I sent my payments bank to bank...but i checked out the house before the final payment...

bozzman101 · Posted: Sun Feb 18, 2007 12:25 am Post subject:

i think bank to bank is better you can prove you brought the money from outside thailand
if you ever want to take it out again

also if you looking for retirment visa shows you have money in bank too befor you take it out Mr. Green

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Once you go Asian you will never go Caucasian !!

jackie · Member Joined: 29 Sep 2005 Posts: 97 Location: England

On the last payment for our house we just transfered the money from our bank in UK straight into the account of the developers. They actually told us to hold the last payment until we had seen the finished house. We had such trust in them that we did not blink an eyelid and sent it before we got the keys.
When we took over our house last Christmas there were a few teething problems. As soon as I told them they had the approprate tradesmen around straight away and fixed the problem. I thing we have been very lucky in the developement we chose.

I suppose if you are not buying from a developer I would hold back a few thousand baht just in case.

Very Happy

lomuamart · Posted: Sun Feb 18, 2007 3:39 am Post subject:

JW · Ace Joined: 11 Sep 2005 Posts: 1399 Location: hua hin

Money must come in via bank transfer so that you can get it out if you wish.
Normally 10% of the purchase price is held back, you pay this at handover when you are satisfed with the house - you should wait until any fautls are fixed before you actually hand over the money. Pm me if you want any help.

lomuamart · Posted: Sun Feb 18, 2007 1:42 pm Post subject:

Careful of the 30% kept for a year, at no interest.
The Thais love us. Mind you, that is currency spectulation, but where do they draw the line?
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"I spent a lot of my money on booze, birds and fast cars - the rest I just squandered". George Best.

JW · Ace Joined: 11 Sep 2005 Posts: 1399 Location: hua hin

There will be no problem with the 30%, if you want to be ultra safe then transfer amounts of less than 20 000 Us dollars.

lomuamart · Posted: Sun Feb 18, 2007 3:28 pm Post subject:

True, JW.
However the recent legistlation dosn't exactly inspire confidence, does it?
_________________
"I spent a lot of my money on booze, birds and fast cars - the rest I just squandered". George Best.