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#1
11-09-2006, 22:52
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which bank account etc
hi just wondering if any one can help me I am thinking of buying a condo in patong (patong tower) and am wondering how i would pay for it as i read somewhere thath the money has to come from a thai bank at the moment i hae a barclays account and lloyds in uk would it be easier for me to open an account in phuket and transfer money over from one of these accounts as we will not be living in phuket but using as holiday home and maybe renting out am coming over in november also does anyone know of good real estate agent that deals with condos in patong tower as we have seen a couple for sale from 1.2million baht to 2.5 million baht and would like to sort something out for when we come over in nov any help from anyone is welcomed
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#2
12-09-2006, 17:09
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#3
12-09-2006, 22:47
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thanks for reply am over in 7 weeks so am going to look at condos then, and if there is one we like ,will come back a few weeks later to sort out (any excuse to come back to LOS )
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#4
13-09-2006, 22:22
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Hi ya bluebell. The funds to buy a condo have to be transfered from abroad in a foreign currency, into a Thai bank. The transfer note must state that the money is for the purpose of purchasing a condo, and must specify the condo details. This entitles the Thai bank to apply for a tor tor saam document. This document allows the cash to be used to buy the condo and if you sell it at a later date you can transfer the funds back out of los. I found the Siam Commercial Bank very helpful when i bought my condo. Keep well away from the Bangkok Bank.
__________________
I don't mind dying. I just hope I'm not there when it happens. ( Spike Milligan )
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#5
14-09-2006, 14:15
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thanks for that as was actually going to london to open bangkok bank account but will not bother can anyone reccommend a real estate agent that deals with condos upto the 2.300000 baht mark we have seen some with a leasehold of 30 years (patong loft condos)but are wondering what would happen after 30 years are up how do they work out your next 30 years lease price and what would happen if it was refused sorry I know its a lot of questions hope someone can answer
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#6
14-09-2006, 15:34
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If it's leasehold it's not a condo, it's an apartment. With a condo you own it freehold, ie. you actually own a pro rata share in the land on which it sits. When you buy one you need to ensure it has condo status, as only 49% of the units in a condo block can be owned by foreigners. My condo is in the Patong Grand Condotel on Rat-U-Thit rd. These often come up for sale.
__________________
I don't mind dying. I just hope I'm not there when it happens. ( Spike Milligan )
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#7
14-09-2006, 16:52
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Siam Bank
Hi, I would tend to agree with alibaba, Siam bank has been great with me, saying that I also have one at bankok bank which doesnt see much action as I was advised after opening it that strange things can happen when transfering money.
It takes 10 minutes to open a bank account and you will get a pass book and a atm card while you wait. You will also be given a free gift Whooopeeee. There are several agents that deal with condos in Patong Tower and I dont rate any of them appart for the official one, Dont have details to hand but will sent a pm later.
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#8
14-09-2006, 23:11
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Don't buy anything there
I would strongly advise you to not consider the Patong Towers.
  That building had been up over ten years and never been in use.It has in the past been operated by some shady timeshare groups where everyone lost their money.  Recently a bank has been selling off some parts of it at auction to collect debts. I am not in the property market or have anything to gain by saying all of this and I am sure some of the other BMs could pull out stories about this place. I recommend that you come here first to do a recce.
__________________
 If you can't take a joke you shouldn't have joined up!!! 
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#9
15-09-2006, 04:03
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Update A bit of searching and yes, they do have a London branch open. Mr. Parnsak Pruksakit, Branch Manager Bangkok Bank PCL London Branch 61 St. Mary Axe, London EC3A 8 BY, United Kingdom Tel: (44-207) 929-4422 Fax: (44-207) 283-3988 Swift: BKKB GB 2L Telex: (051) 8812448 BKBANK G
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Only a woman can break his spell. Pure in heart who will offer herself Last edited by dizbuster : 15-09-2006 at 04:09. Reason: Post-google !!
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#10
19-09-2006, 20:15
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Not entirely correct in that it has never been in use as there are people that have lived in it and are now. But would agree with everything else and stay clear of that building, I believe there is some question on structural integrity of the building if it is full. There are many reasons why it has been 90% empty which shouldn't be for a building of that size in that location. Cheers!
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"Start every day off with a smile and get it over with" W.C. Fields
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#11
19-09-2006, 20:33
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The way I heard it.. Building was left exposed skelton for a long time.. Engineers rated it as having concrete cancer (more technical I am sure) and it was a dead project..
Then another Thai dev company bought it as a NPL from the bank.. Thier engineers pronounced it fine (how handy) and it was packaged up and punted to farangs.. win win..
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#12
20-09-2006, 14:58
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thanks or advice you have all given we are hoping to buy somewhere (or put fee down for reservation in next couple of weeks ) as it will be a while before finished and is near phuket town so that suits me and hubby hopeto see you all in nov hope everything is ok at momentfor you guys and hope economy and tourism does not suffer
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