Transfer fees on condo purchase.

[DrJack54]

Realize most likely covered many times. However the required info slightly urgent. 

 

So here is situation.... Looking at purchase of condo in Bangkok.

With the offer and counter offer a sweetner was on made by owner to cover all transfer cost. 

 

So the condo complex is approx 12 year old and sell price 3 million.

Would anyone have a guesstimate on what I would be paying if say costs were 50/50 (as I see on many adds).

 

Don't even have a clue what I would save by not have to pay transfer cost.

TIA. 

[scubascuba3]

Maybe 3%x3m, if going from company to foreign quota can be 6%x3m, these are approximate, someone can be exact. Also depends if owned for under\over 5 years

[Bvor]

32 minutes ago, DrJack54 said:

Don't even have a clue what I would save by not have to pay transfer cost.

TIA. 

i did some research last year on this issue re sale of my pattaya condo (still available now 1.75 mil).

appears that only the actual transfer fee (3%) is for buyer only but can be neg' buyer/seller shared 

other costs are for seller 

FYI see attached info i obtained.

I am now a bit rusty if asked to explain  - up to you, good luck.  

CondoTransfer Tax.html

[dj230]

12 yr old condo?

The condos don't seem very well made/taken care of in Bangkok, just my observation, I looked at some only a few years old that already looked run down. 

 

But to each their own 

 

[DrJack54]

1 minute ago, dj230 said:

12 yr old condo?

The condos don't seem very well made/taken care of in Bangkok, just my observation, I looked at some only a few years old that already looked run down. 

 

But to each their own 

 

Agree.

I'm not buying it for myself.

 

[scubascuba3]

10 minutes ago, DrJack54 said:

Agree.

I'm not buying it for myself.

 

walk round and check the building, avoid buying if not well maintained or people have built on balconies

[Bvor]

1 hour ago, Bvor said:

 

 

1 hour ago, DrJack54 said:

Agree.

I'm not buying it for myself.

attachment to my previous post indicates transfer fee to be 2% - not 3% that i rustily stated.

[DrJack54]

5 minutes ago, Bvor said:

 

attachment to my previous post indicates transfer fee to be 2% - not 3% that i rustily stated.

Thanks all that replied.

Have sorta agreed to deal in last hour.

 

Seller is including  all transfers and I had already crunched price.

 

FWIW ....I think buying realestate in Thailand is not great idea, however some other reasons make it suitable option. 

 

[tomazbodner]

3% of appraised value, however what sellers (asking for 50:50 on taxes) were trying to do to me in the past was to get me to cover half their business tax as well since they owned property less than a year. That significantly increases the amount to be paid, so I walked away from that.

 

In your case seller pays all taxes, so none of that really matters, only whether the price is right for what you're buying...

[DrJack54]

30 minutes ago, tomazbodner said:

3% of appraised value, however what sellers (asking for 50:50 on taxes) were trying to do to me in the past was to get me to cover half their business tax as well since they owned property less than a year. That significantly increases the amount to be paid, so I walked away from that.

 

In your case seller pays all taxes, so none of that really matters, only whether the price is right for what you're buying...

That's exactly how I understand it works.

One year ago purchased a townhouse.

The transfers were 200k baht.

The owner covered it.

At the time thought that may have saved me 100k.

Of course that's rubbish.

My cost as buyer would have been 40-50k. 

So in effect not huge savings for purchaser.

Happy to be corrected.

Any advise is helpful to others. 

[DrJack54]

Hoping I can add another question for more advice.

So purchased the condo.

The condo is going into Thai name partners name.

Did this a year ago with townhouse purchase.

Couldn't believe how simple the process was. 

Again this owner is paying all transfers. 

Just asking if there is something I should be checking at land office.

Last time I had to sign something that basically stated I would make no future claim regarding the property. 

The agent is also attending.

TIA. 

 

[OneMoreFarang]

8 minutes ago, DrJack54 said:

Hoping I can add another question for more advice.

So purchased the condo.

The condo is going into Thai name partners name.

Did this a year ago with townhouse purchase.

Couldn't believe how simple the process was. 

Again this owner is paying all transfers. 

Just asking if there is something I should be checking at land office.

Last time I had to sign something that basically stated I would make no future claim regarding the property. 

The agent is also attending.

TIA. 

You should have a person who can read and speak Thai and who has experience with this check the details. And obviously you have to trust that person. 

[scubascuba3]

10 hours ago, DrJack54 said:

Hoping I can add another question for more advice.

So purchased the condo.

The condo is going into Thai name partners name.

Did this a year ago with townhouse purchase.

Couldn't believe how simple the process was. 

Again this owner is paying all transfers. 

Just asking if there is something I should be checking at land office.

Last time I had to sign something that basically stated I would make no future claim regarding the property. 

The agent is also attending.

TIA. 

 

There should be a sale agreement, A4 doc. I used google lens app to check the docs at the land office, if your transfer is going into thai partner name then they can check