Selling Land And House

[scduck]

Hi,

Can anyone give us good advice in respect of selling our villa and land in Hua Hin. The villa is owned outright by my wife and I (both farang). The land is owned by a Thai company in which we have a shared interest with Thai shareholders.

a. What restrictions are there in respect of "capital gains tax" or any similar type tax?

b. Are there any restrictions on getting your monies out of Thailand?

c. Are there any good articles anyone could refer us to?

d. Are there any restrictions on selling too early? (I know that in some countries if you buy off-plan and sell within a short tiome of build you get clobbered)

e. What are the average fees? (lawyer, land office, real estate agent ..commission)

e. Can anyone recommend a reputable real estate agent who deals in pre-owned sales (in the Hua Hin area)?

f. Finally, if anyone is interested in a 5 bed, 3 bathroom villa with pool, electric gates, and garage..........

[piersbeckett]

Hello scduck - I'd be interested in the 'story' as it seems as if you've got a nice home there, are you speculator/buy to let people or have you 'gone off' Hua Hin/ secondly under what arrangement were you able to own outright, the villa and under the new dictate, will the company that owns the land be required to re-structure? Thirdly, is the deal anything resembling a bargain; is there a price and how was it arrived at?

Hi,

Can anyone give us good advice in respect of selling our villa and land in Hua Hin. The villa is owned outright by my wife and I (both farang). The land is owned by a Thai company in which we have a shared interest with Thai shareholders.

a. What restrictions are there in respect of "capital gains tax" or any similar type tax?

b. Are there any restrictions on getting your monies out of Thailand?

c. Are there any good articles anyone could refer us to?

d. Are there any restrictions on selling too early? (I know that in some countries if you buy off-plan and sell within a short tiome of build you get clobbered)

e. What are the average fees? (lawyer, land office, real estate agent ..commission)

e. Can anyone recommend a reputable real estate agent who deals in pre-owned sales (in the Hua Hin area)?

f. Finally, if anyone is interested in a 5 bed, 3 bathroom villa with pool, electric gates, and garage..........

[quiksilva]

a) You may be liable to corporate income tax on any capital gains.

Not sure but I dont think so.

c) search this forum and you will find plenty of useful information

d) depends on your contract many developments prohibit sales for the first two years.

e) cant speak for lawyers, but dont look to pay any more than 3% for an estate agent. The land office fees will depend on how long you have owned the property, however if it is less than two years you will be liable to specific business + municipal tax @3.3%, withholding tax @ ~1% (actually its progressive but close enough), and transfer fees @ 2%. This will be computed from the government's appraised value or the price at which you sold it at whichever is higher.

f) Cant help, but suggest that you get pics posted up on as many websites as possible because the internet is becoming an increasingly important avenue for real estate sales of all descriptions.

g) sounds nice, but just got one myself

[HowardJohnson]

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