Payment of transfers/stamp duty.

[Alphim]

Good day,

 

We are busy buying a house in Bangkok, I posted a while back about this and good some good responses.

Something I forgot to ask about is when are the Transfer/Stamp duty costs to be paid and to whom.

I/We are paying cash for the house and wondering just when the a/m costs must be paid.

Thank you all.

[KittenKong]

If you are actually buying a freehold house with change of ownership thereof rather than just buying a company that owns a house then all fees/taxes are paid at the Land Office and to the Land Office just prior to the transfer being done. Cash.

 

I would never pay cash for property here. Get a bank draft in the name of the person from whom you are buying. And take photocopies of the draft, the chanote and the vendor's ID.

[dotpoom]

To answer your headline question....transfer taxex are usually paid 50/50. But of course it is up to yourselves if you want to come to a different arrangement.

[KittenKong]

17 minutes ago, dotpoom said:

To answer your headline question....

 

I understood the question to be "who are they paid to" not "who are they paid by". Maybe the OP can clarify.

 

How the bill is split is up for negotiation as you point out. As far as I know the law actually says that the vendor is wholly liable for the tax part, but unsurprisingly this is often transformed into a 50/50 split, especially if the buyer is fresh off the banana boat.

[RBOP]

Its customarily split 50/50 here in Thailand. But its up to the buyer and seller to agree.

[MyFriend You]

3 hours ago, dotpoom said:

To answer your headline question....transfer taxex are usually paid 50/50. But of course it is up to yourselves if you want to come to a different arrangement.

That is exactly how I did it about 2 months ago, me & seller split that cost 50/50.

[khunPer]

20 hours ago, Alphim said:

Something I forgot to ask about is when are the Transfer/Stamp duty costs to be paid and to whom.

Normally seller pays (all) taxes, and buyer pays transfer fees; both are charged and paid (cash) at the Land Office, when the transfer of names on the title deed takes place. Normally that is also when buyer pay seller the balance of the buying sum; or a bank pays, if buyer use loan/mortgage to buy the house.

 

It is advisable to stipulate about taxes, tranfer fees (and stamps), and how final payment shall be performed (i.e. cash or bankers cheque, the latter may be the case if there's a bank loan/mortgage), in the buying agreement.

Edited October 19, 2017 by khunPer

[Alphim]

19 hours ago, KittenKong said:

If you are actually buying a freehold house with change of ownership thereof rather than just buying a company that owns a house then all fees/taxes are paid at the Land Office and to the Land Office just prior to the transfer being done. Cash.

 

I would never pay cash for property here. Get a bank draft in the name of the person from whom you are buying. And take photocopies of the draft, the chanote and the vendor's ID.

Thank you, that's how I thought it would be, also I do intend to get a bank draft, as you recommend, although I did say cash