Selling a Condo in Thailand: When, to Whom and What to Prepare

If you have sold a flat at home, you know the routine: an agent, a conveyancer, a tax question and a completion date. A sale in Thailand looks similar, but your buyer has to meet conditions of their own, the money arrives in baht and leaves the country only with the right paperwork, and most of the work is done from abroad, through people on the ground.

The steps of the transaction itself, from assigning an off-plan contract to the transfer at the Land Office, are set out in our guide to reselling property in Thailand and taking your money out. This article is about the decisions that come before: when to sell, to whom, and what to prepare so the first serious buyer does not walk away to the unit next door. It is general information, not legal, tax or investment advice.

When to start thinking about a sale

Your reason for selling sets the pace. If you need the money by a certain time, you are working to a deadline, and a deadline weakens your hand in a negotiation. If you simply use the place less than expected, you can wait for the right buyer and perhaps let the unit meanwhile. So the first question is not how much you will get, but how long you can wait.

Next, the stage. Until the unit is registered in your name, you hold a contract with the developer, and selling means assigning it, if the contract allows that at all; after registration you sell in an ordinary transfer. Finally, the cost of holding on: common fees, insurance and upkeep keep running while the unit is empty, but a rushed sale has a cost too. Put both on one page, with your own figures, before you call an agent.

Who your buyer is

Not everyone who likes your unit can buy it on the same terms, and knowing your buyer changes the listing, the price and how payment should be structured.

A foreign buyer

A foreigner who wants freehold ownership needs room in the building’s foreign quota on the transfer date, and money arriving from abroad in foreign currency. If the quota in your building is full, this group of buyers is closed to you, however interested they are. Ask the juristic person about the quota before you market the unit; how it works is explained in our guide to foreign ownership in Thailand.

A common trap is a buyer from your own country, such as a friend or relative, who suggests settling between bank accounts at home. If the money never enters Thailand from abroad, the buyer may lack the document needed to register the unit in their name, and you will have nothing in Thailand to repatriate. Agree the payment route with a Thai lawyer before you agree the price.

A Thai buyer

A Thai buyer is not limited by the foreign quota, so they are the natural market where the quota is full. They often value closeness to work, schools and transport over a holiday sea view, and a local agent will reach them better than an English listing.

An investor

An investor buys figures: what the unit earns, what it costs to hold and how easily it will sell on. If your listing mentions a return, base it on records you can show; our rental yield guide explains what a careful buyer will ask. If your unit is in a developer’s rental programme, read what that agreement says about selling during the programme first.

The file: what to prepare before you list

Much of what shortens a sale is sitting in a drawer, or missing from it. Before you advertise, gather in one place:

• The unit title deed, your purchase contract and the developer’s final statement.
• The Thai bank’s confirmation of every transfer you sent from abroad, for the final payment and for each instalment before it.
• The building’s house rules, and recent decisions of the owners’ general meeting if you have them.
• Confirmation from the juristic person that no common fees are owed.
• Any tenancy agreement and management agreement, if the unit is let.
• A list of the furniture and appliances included in the sale.

The bank confirmations matter most: they prove the purchase money came into Thailand from abroad, often as an FET form or similar certificate, and without them taking the proceeds out can be difficult. If any are missing, ask the bank or the developer for copies now; our guide to sending money to Thailand explains these documents. Also ask the juristic person whether any special levy for repairs is still unpaid: a careful buyer will.

The unit itself: what a buyer sees

Buyers decide quickly, in person or on a video call. A unit closed through the rainy season may smell of damp, and an unserviced air conditioner tends to rattle mid-viewing. Before viewings, have it cleaned, small faults fixed and seals, taps and any mould checked. It is not a renovation; it is the difference between a unit that looks cared for and one that invites a request for a discount.

Fresh photographs matter, especially for buyers abroad. If the unit is let, agree viewings with the tenant and manager in advance. A long-term tenant does not disappear when the unit is sold, and an existing lease may remain binding on the new owner, so tell buyers from the start and ask your lawyer how it applies in your case. If a company manages the letting, check the termination clause in your agreement with them; how managed and self-managed letting differ is covered in management company or self-managed.

Getting your money out of Thailand

The proceeds are paid in baht, in Thailand. To send them abroad, the Thai bank may ask for proof that the money originally came from overseas and that the sale was lawful: your purchase transfer confirmations, the sale agreement, the registration documents and the tax receipts.

Check early that your Thai bank account is still active, as reopening one can be difficult without a visit. Your bank at home may ask where the money came from, so keep the sale documents to hand. And the amount in pounds, euros or dollars depends on the rate on the day you convert.

Then tax. Fees and taxes are collected at the Land Office on transfer day, some from the seller, and your country of residence will probably expect the sale reported too. The types of charge are in our guide to taxes and fees in Thailand; get the figures for your sale from your lawyer and a tax adviser before you sign.

Selling from abroad

You can sell without flying in, but not without a team. A lawyer handles the agreement and the tax calculation, an agent or your manager shows the unit, and an attorney signs for you at the Land Office. A power of attorney signed outside Thailand must meet form and certification requirements, so check them before you see a notary. Most of the tools are the same ones buyers use at a distance; see our article on buying property in Thailand without flying in and the guide to buying remotely.

Before you sign with an agent, check whether the agreement is exclusive and for how long, what the commission is and when it is due, and who shows the unit while you are away. Prefer someone who answers in writing: from abroad, the messages are your record.

What you can do today

Even if a sale is some way off, scan every document from your purchase, keep the common fees paid and record what you spend on the unit. Still buying? Think about the exit on the way in: check whether the contract allows assignment, and favour a well-run building with a wide pool of buyers. In a completed building you can judge that yourself; the pages for ready condos in Pattaya and ready condos in Phuket are a good place to start.

If you bought through ROMA ThaiProperty, a manager can help you gather the documents from your purchase, ask the developer for its assignment terms if the building is not yet complete, and recommend an independent Thai lawyer. We do not promise a sale price or a time to sell: the market on the day you sell decides both.