When buying off-plan in Thailand, the first meaningful payment usually comes in two steps:
- Reservation — to lock the unit and remove it from active sale.
- SPA (Sales & Purchase Agreement) — the main contract that defines price, schedule, timelines, cancellation, and responsibilities.
Typical flow: reservation fee first, then SPA signing within a defined window and a 10–20% deposit. Sometimes reservation is credited toward deposit, sometimes not — the paperwork controls this.
Here is a practical checklist to review before sending major funds.
1) Reservation: 6 things that should be in writing
1) Unit details with zero ambiguity
Project, unit number, floor, size, and layout should match exactly.
2) Price and inclusions
Is price fixed? What is included: finishes, furniture package, parking, upgrades.
3) Reservation amount and refund status
Key point: refundable or not, and under what conditions. Look for clear refund/forfeiture clauses.
4) Reservation period
How long the unit is held before SPA signing.
5) What happens next and when
SPA deadline/window, next payment amount, destination account, payment timeline.
6) Promotions and discounts in writing only
Furniture package, discount, free transfer fee, special terms must be written in reservation form or attachments.
2) SPA: 12 items to review before deposit
The SPA is the main legal and financial framework for the deal.
1) Price, currency, and inclusions
Exact unit price, currency, included and excluded items.
2) Payment schedule and late-payment consequences
Amounts, milestones/dates, default definitions, penalties.
3) Reservation treatment
Whether reservation is credited toward deposit and on what terms.
4) Construction and handover timeline; delay definition
Defined date/period plus clear delay rules.
5) Penalties and liability should work both ways
Check developer liability language, not buyer-only strictness.
6) Cancellation and refunds
Exit grounds, deductions, refund timeline, process.
7) Assignment/resale before completion
Allowed or not, timing, fees, restrictions.
8) Handover and snagging
Inspection process, defect reporting window, fix timeline.
9) Warranty and post-handover service
Coverage scope, warranty period, service process.
10) Ongoing fees: common area fee and sinking fund
How fees are calculated and when they are payable.
11) Transfer/registration fee allocation
Who pays transfer fee, taxes, and other transfer costs.
12) Contract language and prevailing version
If both Thai and English exist, confirm which version prevails legally.
Quick anti-emotional payment rule
- Request SPA first, then pay large deposit.
- Pay reservation only when refund terms, timeline, and next steps are in writing.
- Put every promised benefit into contract text or attachments.
