Question: What Are The Payment Schemes Available When Purchasing Bangkok Property?
Currently, for buying a condominium directly from developers, deferred payment is widely practiced. There is no fixed formula so it will differ from developer to developer.
Usually, buyers will pay an amount of about 20% to 30% of the property value to the developer upon booking of the unit. The remaining amount will be payable upon the completion of the construction of the condominium.
For example, if you buy a condominium for THB 6,000,000, you will be required to pay THB 1,500,000 (assuming 25%) upfront. This money is to be transferred directly to the developer account. This has to be in cash only.
For buyers intending to secure a loan for the purchase of their property, they can only do so nearing the completion of the property. And the loan is only applicable for the balance 75%.