We are selling our house in Chiang Mai, and would like some clarification on the process. Am I correct in believing most if not all Thailand agents charge 3% if they sell the house but charge nothing if the house is sold by another agent. If this is true there is nothing to stop me from having our house listed with every chiang mai agent.

  We purchased the house six years ago and intend to sell it for 3 m. How much will the sales tax be??

We have the house already with a few agents, on the boards outside rimplings, and on Baht and Sold and Thai Visa....does anyone have any other ideas

 

many thanks

Good luck

regards worgeordie

you are pretty much correct.  However, some estate agents will stipulate that they must be the only ones you market you house with (but this depends of the deal you have with the agents.. as some will prioritise your house and push to sell it faster if you pay more money).

 

Good luck with your house sale.  

 

The tax and transfer fees are about 5%.

if you own the house for less than a certain amount of time (5years I think) then you must pay an additional 3%.

most agents charging 5%

Whilst it is correct that you could list with all the agents this may not result in a sale.

I ( my wife ) have sold around 10 houses in Chiang Mai over the last 5 years and from that experience have the following advise:

 

1. Use 1-2 agents only . Concentrate your efforts in motivating them to sell for you ( meetings, follow up, easy viewing )

2. Prepare the property for sale  - empty the property of all belongings and furniture not to be included in the sale, repaint as necessary and make the garden appealing. Ensure all appliances are working.

3. Be very realistic on the price - there are hundreds and hundreds of properties for sale in Chiang Mai that just sit on agent websites due to unrealistic asking prices. Be prepared to sell at a price similar to what you have paid ( this is extremely important and will not be easily acceptable for your Thai wife/family  ). The price has to be substantially less than comparable new build.

4. Think through the profile of the likely buyers - thai, expat, families etc ,etc. Make your marketing around that profile

5. Be prepared to wait up to 1year to achieve a sale - during which time you need to be very active in promoting the property.

Often depending where the house is located, there isn`t a good property resale market in Thailand.

 

In some cases if hoping for a quick sale, is to sell it for a rock bottom price. Good luck.

Be prepared for a long long wait. Most Thai people prefer a new home.

I am currently looking in CM for a home... my understanding is that most charge 3% - - but even though not much seems to be selling, they do have an independent attitude. I think you can shop around online with the different agents websites and check pricing of similar units... I am sure that if you list with all the agents - - and there are many,  it will probably make them smirk and give you dust. 

 

I would try and find one good agent in your area... and if you really want to sell, if it does not sell quickly, offer them a bonus for pushing your house. You might want to start the house at 3.5 so that you have some room for that. Different agents seem to work different areas, so, if close to home, you will have a better chance... good luck.