Off-plan payment plans, and what happens if a project is late

How a typical plan is built

Every developer sets its own schedule, but the shape is consistent. As a rough guide from published sources:

• Reservation fee: a fixed sum, commonly between ฿30,000 and ฿100,000.
• At contract: around 10% to 20% of the price.
• During construction: around 20% to 30%, paid in instalments.
• At transfer: the balance, often 50% to 70%.

Where to find the real schedule

Where a developer has published its plan, we show it on the project page, stage by stage. Plans can differ between unit types and between foreign and Thai quota, and developers change them during a sales campaign, so ask us to confirm the plan for the unit you want.

If the developer is late

The standard-form contract for condominiums gives you two options when the developer misses the agreed date.

• Cancel the contract and recover everything you have paid, with interest.
• Keep the contract and claim a daily penalty of at least 0.01% of the price, up to 10% of the price in total.

If you miss a payment

The same contract limits what the developer can charge you. Interest on late payments is capped at 15% a year and at 10% of the price in total, and the developer must give you 30 days' written notice before it can terminate.

The risk the contract cannot remove

Your rights are only as good as the developer's ability to pay. Stage payments normally go straight to the developer, not into escrow, and if a developer fails, banks and other secured creditors are paid before buyers. The practical protection is to buy from developers who have completed projects and to check that construction is moving before each payment.

Bank finance is also limited: Thai banks rarely lend to non-resident foreigners, so plan to fund the balance at transfer yourself.