Transcript of the above video: 

As the title of this video suggests, we are discussing due diligence as it pertains to parking spaces related to or connected with condominiums here in Thailand. So what are we talking about here? Well, first of all tip of the hat; somebody in one of the comments said, "hey you should do something, - we did a video about due diligence regarding property purchase in Thailand - they said you should really talk about parking spaces as it pertains to condos". And yeah, a good point. 

We deal with condos over the years and some of them are built where each condo sort of has a parking space attached to it. So when you purchase the condo, you get the right to one space. Sometimes it's numbered, sometimes you just get an ID and you have to, it is sort of a free-for-all in the actual parking lot. Some condo complexes don't actually have parking spaces that are commensurate with the number of condo units they have, just due to space and whatnot, the way that it was built, they don't have enough parking theoretically if every person in that condo had a car. This is where some of the due diligence comes in. It's a question I don't think a lot of folks think about when they are looking to buy a condo here in Thailand, but it is something that can be rather important, especially if you are going to have a car or you have a significant other, which is usually the case, that drives here in Bangkok especially. Parking in Bangkok can be its own level of a nightmare in many, many ways. 

So the thing to take away from this video and understand is look there is due diligence associated with owning Thai condos. As we have discussed in other videos, the Thai Condominium Act does allow foreigners to own condos out right in Thailand, so you can get what we would call a Fee Simple Absolute title in the American Common Law vernacular sometimes called Freehold Title; I hear the Australians refer to it as Freehold Title a lot. In Thai it is called Chanote title; you own it, you own the unit. Notwithstanding restrictions to foreign ownership of real estate in Thailand yeah, a foreigner can own a condo. But something a lot of folks don't think about is parking. If you are going to have a car, it is a good idea as part of the overall due diligence to look into what the parking situation is inside a condominium complex here in the Kingdom of Thailand.