Reserving a condo in Thailand: what the deposit secures

A condo in Thailand is reserved with a deposit, usually a fixed amount that later counts towards the first payment. With a developer, the reservation agreement must follow a standard form approved by the Office of the Consumer Protection Board: in Thai and without unfair terms. It fixes the unit, the price, the payment plan, the form of ownership and the remaining foreign quota.

A reservation is not a purchase yet. But the money is already gone. So treat it as seriously as the contract: read what the deposit actually secures and when it is refunded.

How much is the deposit?

It depends on the developer and the project. At Harmonia City Garden in Pattaya, for example, the deposit is about 100,000 baht and counts towards the first payment when the contract is signed. We confirm the exact amount for each building with the developer on the day.

Send the deposit like every other payment: from abroad, in foreign currency, to the company account named in the reservation agreement, and ask for the bank confirmation at once. It is the first of the documents you will need for freehold – see Transferring money.

The reservation agreement: what to write into it

Since 31 January 2025, a condo reservation with a developer is a "controlled contract" under the rules of the Contract Committee of Thailand's Office of the Consumer Protection Board. That means: it is in Thai, includes mandatory terms in the approved form, and may not contain unfair terms.

• The exact unit: building, floor, number, area.
• The price and the payment plan.
• The form of ownership: freehold within the foreign quota, or leasehold.
• The remaining foreign quota on the reservation date.
• The date by which the sale contract will be signed.
• The terms for refunding the deposit.

How to check the remaining quota before reserving is explained in Developer and foreign quota, and what freehold and leasehold mean in Freehold and leasehold.

When the deposit is refunded

Under the same rules, the buyer may cancel the reservation in certain cases – for example, if the developer has not obtained environmental (EIA) approval where it is required, or has not signed the sale contract by the agreed date. The developer then refunds the full amount: within 15 days if it was paid by transfer, or 45 days if paid by card.

If you simply change your mind, the reservation terms decide. Read them before paying, not after.

On resale, after the reservation you check the unit's title, the owner and any mortgage, get a certificate from the building that the unit has no debts – the Land Office will not register the transfer without it – and only then go to the Land Office.

A "reservation" without a contract – cash to a sales agent or a transfer to a personal account – is something we never recommend. If the reservation is not on the standard form, getting the money back means going to court. Next step: Contract and payment plan.

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