Taxes, govt stamps, etc with condo buy?

[chingmai331]

My friend is buying a condo in CM, worth 1 million baht.  She asks if there are any taxes, govt stamps or fees, bank fees, juristic fees, etc etc which must be paid before Chanote issued.  She will transfer the money in early January but asks me exactly how much.

Can anyone inform us?

[KittenKong]

Assuming that this is a resale condo in farang name and not a completely new condo or a company-name purchase:

 

All outstanding debts to the building must be paid before the debt-free certificate will be issued. This is the vendor's problem. There will be a very small fee for issuing the certificate, which again is the vendor's problem.

 

There will be taxes and fees to be paid at the Land Office on the day. Who pays these is entirely negotiable. They will probably amount to around 5% though it will vary depending on circumstances. The Land Office will tell you the exact amount in advance if you ask.

 

Your friend will need to get an FET form (or similar transfer advice) from her bank here to prove that the funds being used originated abroad and were converted to THB here. This is free.

 

If the purchase is of an entirely new unit then the developer will know the exact costs. How they are to be split should be part of her contract. There will also be sinking fund fees, common fees and meter/utility connection fees. All should be specified in her contract.

[mokwit]

Is there any requirement for the funds to have 'purchase of property' recorded as the reason for remittance?

[KittenKong]

1 hour ago, mokwit said:

Is there any requirement for the funds to have 'purchase of property' recorded as the reason for remittance?

I've never heard of a Land Office rejecting a transfer because such a reason was missing. It cant hurt to include it it though, if practical.

[chingmai331]

A further Q.  Does the Juristic person, sort of the go-between seller and  buyer, attend to the details at the Land Office or must we (buyer) go to that office? We are not speaking any Thai.

 

Juristic person has said she will go to the nearby bank with us to work out the money details. 

[jackdd]

I would recommend that you go to the land office, how else could you be sure everything is done right?

You should never fully trust any random person (for example the juristic person), so always take an independent person who can speak / read Thai with you to make sure that everything is done correctly.

[KittenKong]

2 hours ago, chingmai331 said:

Does the Juristic person, sort of the go-between seller and  buyer, attend to the details at the Land Office or must we (buyer) go to that office? We are not speaking any Thai.

 

Juristic person has said she will go to the nearby bank with us to work out the money details. 

The JPM should never be involved in sales and transfers, apart from issuing the debt free certificate. So it sounds like your JPM is acting as a sales agent on the side. But do you mean the JPM or just the building manager? They are not necessarily the same thing.

 

Either way, as mentioned, NEVER trust anyone connected with the sale in any way. Always find a completely unconnected third party to help you. Trust no one: scams abound here.
If you dont go the Land Office yourself you would have to give limited power of attorney to someone to act for you, and that is not something that I would readily do in Thailand though the law does allow for it.