Atlantis 1 Bedroom

Description

          Atlantis

• Building: D
• Unit Type: 1 bedroom, 1 bathroom
• Floor: 6th floor
• Size: 36 square meters
• View: City view
• Ownership: Foreign ownership is possible. This is an important detail for international buyers.
• Price: 1,999,000 Thai Baht (THB). This is highlighted as a "SUPER HOT SALE," suggesting a potentially good deal.
• Transfer Fee: 50/50. This means the buyer and seller will each be responsible for paying 50% of the property transfer fees.

Foreigners can indeed own condominiums outright in Thailand under what is known as "foreign freehold." However, there are certain regulations:

• Foreign Quota: In any condominium development, the total space owned by foreigners cannot exceed 49% of the total saleable area of all units in that project. The advertisement explicitly stating "Foreign ownership ✅" indicates that this particular unit is within the foreign ownership quota for Building D of the Atlantis project.
• Funds Transfer: Generally, the funds used by a foreigner to purchase a property in Thailand must be transferred into Thailand in foreign currency and properly documented. Banks will usually issue a Foreign Exchange Transaction (FET) form or similar proof of the international transfer. This documentation is often required by the Land Department during the property registration process.
• Due Diligence: As with any property purchase, it's crucial to conduct thorough due diligence. This includes:
  • Checking the developer's reputation and the project's legal standing. You might want to research Atlantis Condominium and the developer to ensure they have a good track record.
  • Reviewing the title deed (Chanote). Ensure it is a genuine and clean title with no outstanding encumbrances. You can request to see a copy and have it checked by a lawyer.
  • Understanding all associated costs. Besides the purchase price and the 50/50 transfer fee, there will likely be other expenses such as stamp duty, legal fees, and potentially mortgage fees if you are financing the purchase through a Thai bank (which can be more complex for foreigners).
  • Visiting the property in person. Pictures and descriptions can be helpful, but seeing the unit and the building firsthand is essential. Consider the actual view, the condition of the unit, the building facilities, and the surrounding neighborhood.
• Legal Assistance: It is highly recommended that foreigners engage a reputable lawyer in Thailand who specializes in property law. They can assist with the due diligence, review the sales contract, and ensure a smooth and legally sound transfer of ownership at the Land Department.

Given that the price is in Thai Baht and the context implies a property in Thailand, it's worth noting some general aspects of the Thai property market: