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Where does any deposit or stage payment sit? Do monies go directly to the developer or do they sit in an escrow account?

April 26, 2017account deposit Developer directly escrow monies payment Sit Stage

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Where does any deposit or stage payment sit? Do monies go directly to the developer or do they sit in an escrow account?

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A Escrow accounts are not available in Thailand. As Himmapan Beach Samui operates a milestone payment system all monies go to the developer towards construction payments. As with all off plan sales the discount is given as the developer uses the deposit monies towards construction costs this effectively reduces the need for construction finance.