The most frequently asked questions.
This document is issued by condominium juristic person and must be signed by general manager, proving that the apartment has no debts, such as unpaid water, electricity and maintenance fees. Usually, it takes from 3 to 10 days to get this paper and needed only in case of purchasing an apartment in the condominium.
The form “Tor Tor 3” is an official bank document, which you can get from the bank only after changing a foreign currency; or in case you have a Thai bank account and you sending the funds from your country to Thailand, after you arrive to the Land of Smiles you can request this form (Tor Tor 3) from the bank branch where you open an account before. The amount stated in this document shows how much money you send from your country, or amount of currency you changed into THB in the bank.
The “Tor Tor 3” is required only for buying a property, so when you request it from the bank, this form must have a remark: “for the purpose of purchasing a property”. This document has to be provided in Land Office on the day of transfer the ownership rights.
Usually the deposit is non-refundable. But, if the property belongs to the same owner or developer than you can transfer your deposit to another his apartment and save your money.
Unfortunately, banks of Thailand didn’t provide any loans to the foreigners who don’t have any assets in the Kingdom of Thailand. But if you are buying something under construction, then you will get your property with interest-free payments by installments on the whole period of construction. Sometimes the Developers can offer a loan for 1-4 years for their apartments or even houses with the land, but in this case you will be the owner of the property after you complete all the payments including interest for the loan, and only after that you will get a Channote (Title Deed).