Editorial
Reservation Deposit for Thai Property: How Much to Pay
By THAI.ESTATE Editorial Team12 min read
A reservation deposit in Thailand typically costs between 10,000 THB and 200,000 THB for a condominium unit, and between 50,000 THB and 500,000 THB for a villa or house. The exact figure depends on the developer, the property price, and whether the project is off-plan or completed. This deposit takes the unit off the market while you complete due diligence and negotiate the sale and purchase agreement (SPA).
The reservation deposit is not the same as a down payment. It is a smaller, often non-refundable fee that secures your interest. After paying it, you usually have 7 to 30 days to sign the SPA and pay the first instalment of the down payment. If you walk away after signing the SPA, you lose significantly more money. So the reservation stage is your last low-cost exit point.
This guide walks you through every step: what the deposit covers, what documents you must demand before paying, how payment schedules work for off-plan property, how to transfer money correctly from abroad using the FET form (Foreign Exchange Transaction form - a Thai bank document required to register foreign condo ownership), and what mistakes cost buyers the most money.
Quick answer
- Reservation deposits in Thailand range from 10,000 THB to 500,000 THB depending on property type and developer (indicative figures, 2026)
- The deposit is almost always non-refundable if you cancel; negotiate a refund clause before you pay
- You normally have 7 to 30 days after the reservation to sign the SPA
- For condominiums, funds must arrive from abroad in foreign currency with a correct transfer purpose reference to generate a valid FET form - a wrong reference is one of the most common and costly errors
- There are no escrow accounts for foreign property buyers in Thailand in the traditional sense; your real protection is a solid SPA with construction-linked payment schedules and verified developer credentials
- Before paying any deposit, demand: the title deed (chanote) copy, the developer's company affidavit, the EIA approval certificate, and the building permit for off-plan projects
Options and scenarios
Scenario 1: Off-plan condominium in a major city or resort area
Developers of off-plan projects typically ask for a reservation deposit of 50,000 THB to 150,000 THB (market estimates, 2026). After that, you sign the SPA within 14 to 30 days and pay the first tranche of a down payment, which is usually 10% to 20% of the purchase price. Remaining instalments are tied to construction milestones: foundation complete, structure complete, fit-out complete, transfer. This construction-linked schedule is your primary financial protection. It means you do not pay the full price until the building reaches defined stages.
For off-plan purchases, you must obtain and verify: the Environmental Impact Assessment (EIA) approval, the building permit, the developer's company affidavit (confirming the registered company, directors, and share structure), and a copy of the land title. A chanote is the strongest title type in Thailand - it is a full freehold title deed with GPS-accurate boundaries registered at the Land Department. Demand a chanote, not a Nor Sor 3 Gor (a provisional title with less legal certainty).
Remote buyers can sign the reservation agreement and SPA via a power of attorney (POA). A POA must be signed before a notary in your home country and then either apostilled (if your country is a signatory to the Hague Convention) or authenticated at a Thai embassy. The POA authorises a named representative in Thailand to sign documents on your behalf at the Land Office.
Scenario 2: Completed condominium (secondary market or developer stock)
For a completed unit, the deposit is typically 50,000 THB to 200,000 THB and the timeline is faster: SPA within 7 to 14 days, transfer at the Land Office within 30 to 90 days. The FET form becomes immediately critical because you are close to the transfer date. Your international bank transfer must arrive in foreign currency (USD, EUR, GBP, AUD or other major currency), converted to Thai baht in Thailand, with a transfer description that references 'purchase of condominium' or 'property purchase'. The receiving Thai bank issues the FET form (also called a Thor.Tor.3 form in older references). Without a valid FET form, the Land Office will not register the unit in your name. Keep every FET form permanently - you will need it again when you sell or repatriate funds.
Scenario 3: Villa or landed property (leasehold structure)
Foreigners cannot own land freehold in Thailand under the Land Code. The legal structures available are: a 30-year registered leasehold (often with two optional renewal periods written into the contract, though renewal is not guaranteed by law), or ownership through a Thai company (which carries significant legal complexity and risk if structured improperly). For a leasehold villa, the reservation deposit is typically 100,000 THB to 500,000 THB, reflecting the higher property values involved.
For villa purchases, demand the full land title (chanote), a survey map, confirmation of utility connections, and legal advice from an independent Thai lawyer - one you instruct yourself, not one recommended by the developer. Legal fees for independent advice typically run 15,000 THB to 50,000 THB for a condominium transaction and 30,000 THB to 100,000 THB for a leasehold villa (indicative figures, 2026).
Scenario 4: Buying remotely with a power of attorney
You can complete a Thai property purchase entirely remotely. The sequence is: sign the reservation agreement electronically or by courier, wire the deposit from your bank abroad in foreign currency, have an independent lawyer review the SPA before you sign, grant a POA to your lawyer or trusted representative, and instruct them to attend the Land Office transfer on your behalf. The POA route is well-established and legally valid in Thailand. Budget 5,000 THB to 15,000 THB for POA notarisation and authentication (indicative figures).
Comparison table
| Parameter | Off-plan Condo | Completed Condo | Leasehold Villa |
|---|---|---|---|
| Reservation deposit (indicative) | 50,000-150,000 THB | 50,000-200,000 THB | 100,000-500,000 THB |
| Time to sign SPA | 14-30 days | 7-14 days | 14-30 days |
| Down payment after SPA | 10%-20% of price | 10%-30% of price | 10%-30% of price |
| FET form required | Yes (at transfer) | Yes (immediately critical) | No (leasehold; but funds must still be documented) |
| Key documents to demand | Chanote, EIA, building permit, company affidavit | Chanote, building permit, foreign quota confirmation | Chanote, survey map, lease draft, company affidavit |
| Remote purchase via POA | Yes | Yes | Yes |
| Ownership type | Freehold (foreign quota max 49% of building) | Freehold (foreign quota max 49% of building) | Registered leasehold (max 30 years per registration) |
| Typical transfer fees (indicative) | 2%-6.3% of price shared by agreement | 2%-6.3% of price shared by agreement | 1.1% of lease value |
Risks and mistakes
Paying the deposit before seeing the title deed
Never transfer any money before you hold a copy of the chanote (or at minimum a verified Land Department title). Developers sometimes sell units on land they do not fully own or on land with encumbrances. A title search at the local Land Office costs very little and takes one to two business days. Instruct your lawyer to do this before you pay.
Accepting a fully non-refundable deposit with no SPA conditions
The reservation agreement should include at least one conditional clause: typically, that if the SPA terms are materially different from those presented to you, or if the title has defects, the deposit is refundable. Without this, you lose the deposit if due diligence reveals a problem. Negotiate this clause before you sign the reservation form.
Wrong FET form reference on the bank transfer
This is one of the most expensive routine errors in Thai property transactions. When you wire money from abroad to pay for a condominium, the transfer description (the 'purpose of remittance' or 'payment details' field at your bank) must clearly state the purpose as a property purchase. If the reference is vague (for example, just your name or 'savings'), the receiving Thai bank may not issue the FET form correctly. Without a valid FET form for each payment, the Land Office will not register the condo unit in your name as a foreign buyer. Correcting a wrong FET form after the fact is time-consuming and sometimes impossible. Always confirm the exact wording with your Thai lawyer before initiating any transfer.
Transferring Thai baht from abroad
For the FET form to be valid, funds must arrive in Thailand in foreign currency - not in Thai baht. If your bank converts to baht before sending, the transaction may not qualify. The conversion must happen in Thailand at the Thai receiving bank. Confirm this rule with your bank and your Thai lawyer before each transfer.
Assuming the foreign ownership quota is available
Under the Condominium Act, foreigners can own a maximum of 49% of the total floor area of any condominium building. In popular buildings, this quota can be fully sold. Check the current foreign quota balance with the juristic person (the building management company, called the 'juristic person' under Thai law) before paying any deposit. If the foreign quota is full, you cannot register freehold ownership in your name without a different legal structure.
Skipping independent legal review of the SPA
Developers provide their own SPA templates, which are naturally written to protect the developer. Common one-sided clauses include: very short cure periods for your own payment delays, no penalty for developer delays beyond a token amount, and ambiguous definitions of 'completion'. An independent Thai lawyer will identify and negotiate these clauses. The cost of a legal review is small compared to the risk.
Not verifying the developer's credentials for off-plan projects
For off-plan purchases, request the developer's company affidavit (a certified document from the Department of Business Development confirming company registration, directors, and paid-up capital). Check that the company selling you the unit is the same entity that owns the land. Also verify that the EIA approval and building permit are issued in that company's name. If these documents do not match, stop and seek legal advice.
FAQ
How much is a typical reservation deposit for a condo in Thailand?
For a condominium, the reservation deposit typically falls between 50,000 THB and 150,000 THB (indicative figures, 2026). Some smaller developers or lower-priced units may ask for as little as 10,000 THB to 30,000 THB. Luxury projects can ask for 200,000 THB or more. The figure is negotiable before you sign.
Is the reservation deposit refundable in Thailand?
In most cases, no. The standard practice is that the reservation deposit is non-refundable if you cancel. However, you can negotiate a conditional refund clause - for example, if the title deed has defects or if the SPA terms differ materially from the reservation terms. Get any refund condition in writing before you pay.
What documents should I ask for before paying a reservation deposit?
At minimum, demand: a copy of the chanote (the full freehold title deed), the developer's company affidavit, the EIA approval (for off-plan projects), the building permit, and the floor plan showing the exact unit and its area. For a completed building, also ask for the foreign ownership quota balance from the juristic person.
What is the FET form and why does it matter for my deposit and transfer payments?
The FET form (Foreign Exchange Transaction form, sometimes called Thor.Tor.3) is a document issued by a Thai commercial bank confirming that foreign currency arrived in Thailand from abroad and was converted to Thai baht. The Land Department requires a valid FET form to register a condominium unit in a foreigner's name. You need one for each qualifying payment, including the down payment and the final transfer payment. Keep all FET forms permanently.
Can I transfer Thai baht directly from my overseas account to pay for a Thai condo?
No, not if you want a valid FET form. The funds must arrive in Thailand in foreign currency and be converted to Thai baht by the receiving Thai bank. If your bank converts to baht before sending, the transaction may not produce a valid FET form. Confirm the correct process with your Thai lawyer before every transfer.
Can I buy Thai property remotely without visiting Thailand?
Yes. You can sign the reservation agreement by courier or electronically, wire funds from abroad, and grant a power of attorney to a representative in Thailand to sign the SPA and attend the Land Office registration on your behalf. The POA must be notarised and apostilled (or authenticated at a Thai embassy) in your home country. This process is legally established in Thailand.
What happens if the developer delays an off-plan project?
The SPA should specify a completion date and a penalty clause for developer delays - typically a daily or monthly penalty on the contract value. Standard developer templates often cap this penalty at a very low amount. Your lawyer should negotiate a higher penalty or a clear cancellation right with full refund of all payments if delays exceed a defined period (for example, 12 or 24 months). Without this clause, your remedies are limited to Thai contract law, which can mean a long court process.
What is the foreign ownership quota for Thai condominiums?
Under the Condominium Act, foreigners may own up to 49% of the total floor area of any single condominium building. The remaining 51% must be owned by Thai nationals or Thai-majority entities. Always verify the current available foreign quota before paying any deposit, because a sold-out foreign quota means you cannot register freehold ownership in your name.
What transfer fees apply at the Land Office in Thailand?
The main fees at the time of registration (indicative, as of 2026) are: transfer fee of 2% of the appraised value, stamp duty of 0.5% (waived if specific business tax applies), specific business tax of 3.3% if the seller has held the property for fewer than five years, and withholding tax on the seller's gain. Who pays which fee is negotiated in the SPA. As a buyer, you will typically pay the transfer fee and sometimes share other costs. Confirm the exact split in your SPA.
Is a 30-year leasehold secure for a villa purchase in Thailand?
A registered 30-year leasehold is the standard legal mechanism for foreigners buying villa or landed property in Thailand. The lease must be registered at the Land Office to be enforceable against third parties. Optional renewal periods can be written into the contract, but Thai law does not guarantee renewal - it depends on the landowner's agreement at that future time. This is a real legal risk. Independent legal advice is strongly recommended before committing to a leasehold villa purchase.
Planning a property purchase in Thailand? Send us your requirements - the THAI.ESTATE team will reply with specific options and a safety checklist for your case.