Bangkok condos remain one of the most accessible income-producing assets for international investors — strong yields, deep tenant demand, and a well-developed resale market that lets you start collecting rent the day the keys change hands. But the resale process in Thailand has its own rhythm, and getting the steps and tax structure right makes the difference between a smooth closing and an expensive surprise.
Below is the full process, step by step, from finding the right unit to taking possession.
1. Find a specialist agent
The first step is finding the right agent. In Thailand, the brokerage market is fragmented — quality varies enormously, and the agent you choose has more impact on your outcome than almost any other decision. Look for someone who is reliable, has deep market knowledge, and can show you a wide enough pool of listings to compare.
Most Bangkok agents will show you properties at no charge to the buyer, help you shortlist, and walk you through pricing and market context.
In Thailand, buyers typically don't pay agent fees (case-by-case).
2. Sign the reservation agreement
Once you've chosen a unit and reached an in-principle agreement with the seller, both sides sign a Reservation Agreement that outlines the basic terms, conditions, and timeline. Think of it as a formal letter of intent — it locks in the deal at a high level so both sides can move forward with confidence.
(In some cases this step is skipped and parties go straight to the SPA.)
3. Pay the reservation deposit
The buyer pays a deposit, typically 5–10% of the purchase price. Once the seller receives it, the unit is taken off the market. The deposit is normally held by the agent or seller, with both parties having visibility, to keep the transaction secure.
4. Sign the Sale and Purchase Agreement (SPA)
After the deposit, both parties have 30 days to review the Sale and Purchase Agreement (SPA). During this window, the buyer can engage a lawyer to do legal due diligence on the contract, the seller's holding structure, and the title deed (Chanote) — all of which gives you a clear view of the property's legal and financial standing before you commit the rest of the funds.
5. Settlement and transfer
Before the transfer date, the seller prepares the documents required for transfer (debt-free certificate, foreign quota certificate, etc.), and the buyer obtains a Foreign Exchange Transaction Form (FET) from a Thai bank, plus a cashier's cheque for the balance. Both sides then meet at the Land Department on a mutually agreed date. Once the transfer is registered, the buyer (or their authorized representative) hands over the cashier's cheque to complete payment.
Note: To buy a resale property in Thailand, you'll need a Thai bank account first. With the SPA signed and deposit paid, your agent can help you open one.
In addition, both sides need to settle the relevant taxes:
Transfer Fee: 2% of the government appraised value (typically split — 1% buyer, 1% seller)
Stamp Duty: 0.5% of the transaction price (paid by the seller, only when the seller has held the property for more than 5 years)
Specific Business Tax: 3.3% (paid by the seller when the property is held for less than 5 years; calculated on the higher of appraised value or transaction price)
Withholding Tax: Calculated on a progressive scale — needs a specialist to work out the actual figure (paid by the seller, with deductions usually applicable)
6. Completion and handover
Once the transfer is registered, the keys and documents are handed to the buyer. The new owner's name is registered with the Provincial Electricity Authority (PEA) and the project's juristic person (where applicable) over the following billing cycle. The transaction is officially complete, and the unit is yours.
📩 To learn more, please reach out to Upper Estates:
A walk-through of the resale process tailored to your situation
Recommended units in your target submarket and price range
Tax planning and structuring advice for foreign buyers
Bank account opening, FET, and Land Department coordination
Post-purchase rental management and tenant placement
We offer trilingual one-on-one consultations in Mandarin, English and Thai, helping you close cleanly and start earning from day one.