Transcript of the above video:

As the title of this video suggests, we are discussing Condos in Thailand and an issue that sometimes people don't really think about when they are thinking about buying a Condo in Thailand. For those who are unaware, foreign nationals, notwithstanding the restrictions on foreigners being able to own real estate, that's land, houses etc. here in Thailand, it may be possible for a foreign national to own a condo in Thailand in freehold. To own what we would call fee simple or freehold title to a Thai Condo, a Chanote title in Thailand, it is possible for foreigners to own such title if the Condo and the Condominium complex meets the meets the legal requirement under the Thai Condominium Act. So as long as it meets the legal requirements under the Act, it may be possible for a foreigner to have freehold title. 

Something that oftentimes folks don't really think about is parking. We have actually seen a couple of situations where clients of ours have become very exasperated with their Condo complex because either they are required to pay for parking that they don't need, or pay sort of maintenance fees associated with parking that they don't need or the condominium complex, they have no designation with respect to parking. So they have a parking lot but they don't number the lots and they don't designate somebody their specific lot. We have seen a lot of folks have a lot of consternation come up as a result of this and it's something that you wouldn't really think of necessarily at first blush but it is something that can be a rather major issue when you are looking at buying property here in the Kingdom of Thailand. 

Sometimes when people ask us to do it, when we are doing due diligence associated with a Condo, we are looking at the legal title and things like that but those who are interested in buying a Condo it is kind of on you as to what you want and your needs. We don't necessarily know when we are assisting clients that they need or don't need parking or this kind of thing or that kind of thing. If we are told by the client, "hey can you ask the juristic person, can you ask the seller, does this come with a parking spot, are there any rules about parking, is there maintenance associated with parking?" We can check into that. It is generally not something we are going to do as a matter of course because it is not really the focus of what we are looking at. We are looking at ascertaining the title and the shape of the title. But yeah, it is something to think about, if you are coming in Thailand and you are looking to buy a Condo, parking can be a major issue depending on your circumstances.