THAILAND CONDOMINIUM unit sales contract (sample)

The condominium sale and purchase agreement for a condo apartment unit in Thailand below is a very poor contract as recently offered to us for review amendment. The contract below is drafted poorly and does not include the required terms and conditions of a condo sale agreement, therefore not suitable for amendment and should be completely replaced by a proper condominium sale and purchase contract.

Sample of a poor contract

Made at:......................................
Dated:...........................................

This contract is made between

1) Mr........................................................ age: ............. years, residing at ...............,.................................... Road Soi.................., Kweang ................................. Khet ............................., Province of..........................................hereinafter called the “Purchaser”,

and

2) Mr........................................., age........years, residing at......., Road....................................., Soi........................................., Kweang ....................................., Khet............................ Province of...................................hereinafter called the “Seller”.

Both parties agree to enter into this Condominium Unit Sales Contract in accordance with the following terms:

1.    The Purchaser agrees to purchase 1 unit of condominium No..................................................................................... in the area of ........................... square metres, situated on.... floor at _____name condo___. Condominium registration no. 00/0000 located at the title deed no. ____________ Tambon ________, Amphur _____, Bangkok Province, and furniture, kitchen utensil which are fixed and floated as appear in condominium’s site plan in the room from the Seller with the telephone no .............................. and the space of parking lost for 2 cars value ______ Baht. (baht __ million and __ hundred thousand).

2.    The seller agrees to sell the condominium unit as in Clause 1 to the Purchaser at price indicated above.

3.    The Purchaser agrees to pay a deposit to the Seller on the date of registration at a total of ____________ baht (baht ____ million ____ hundred thousand and ___ thousand). The purchaser agrees to pay the money to the seller in the following:

The Purchaser shall pay the deposit of the condominium to the seller by check of .....................................Bank no. ............................... date.............................. The Seller has received the check. The both parties had agree that the deposit will bind to Purchaser and Seller when the Purchaser bank pay to the Seller bank on the date of registration of transfer of ownership at the Bangkok Metropolitan Land Registration Office within _date_.

4.    The Seller will pay fees, revenue stamp prices and taxes which the both parties agree to transfer according to the estimate price of the government and other expenses in registration of transfer in clause 1 only.

5.    If the Purchaser breaches the contract, the seller can terminate the contract and confiscate the money which the Purchaser has already paid back. If the Seller will not go to transfer the condominium in the due date or cannot transfer the condominium to the purchaser, the seller will give the deposit or the money which the purchaser has already paid back to the purchaser. The Seller will also pay more one fine which the seller has received and allow the purchaser to enforce an action for specific performance under the contract, including remunerate for damages.

This contract is made in duplicate copies. The parties to the contract having read and understood the entire contents of the contract hereunder sign their names in the presence of witnesses.

Signed............................... Purchaser
(                                    )

Signed............................... Seller
(                                     )

Signed............................... Witness
(                                     )

Signed............................... Witness
(                                     )

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