How much to transfer from one name to another on chanote of condo?

I thought it was only 2% but i have heard 5% and also 8%, can someone confirm which is correct?

JH

Depends on how long you've owned the condo.

Depends on how long you've owned the condo.

Less than 5 years

JH

You have to pay<br><br>1. Government Fee of Transfer is 2%  based on the government assessed price.<br>2. Specific Business Tax:  3.3% for specific business tax based on the gov assessed price or sale whichever is higher.<br>3. Withholding Taxes (The gov  assessed price minus Deduction with the expense of possession divided by the # years of possession)<br><br>

Pretty good breakdown

Pretty good breakdown

Very good - many thanks.

JH

figure a little over 6% of the land office appraised value.

It appears it's lots more that 6% if you buy from an indivual, not a company. In the link, pretty good breakdown above, it was very helpful and yet seemed like an error, In the original page they say that Withholding tax is 1% of value, thats for a company, look at the graph on the right, it's a sliding scale, they seem to nail the seller up to 37% of the value of the property if it's a personal sale.

http://www.siam-lega...-calculator.php

and in this worked out example, look at the Withholding tax worked out.

http://www.siam-lega...ransfer-tax.php

Taxation on progression rate 1 to 80,000 = exempt 80,001 - 100,000 = 5% (1,000) 100,001 383,333.33 = 10% (28,333.23) Total = 29,333.23 (1,000 + 28,333.23)

Geez, I hope I have this all wrong.

Note, I had been trying to get this information off the Sunbelt site and use those links, but I failed to find that.

It appears it's lots more that 6% if you buy from an indivual, not a company. In the link, pretty good breakdown above, it was very helpful and yet seemed like an error, In the original page they say that Withholding tax is 1% of value, thats for a company, look at the graph on the right, it's a sliding scale, they seem to nail the seller up to 37% of the value of the property if it's a personal sale.

http://www.siam-lega...-calculator.php

and in this worked out example, look at the Withholding tax worked out.

http://www.siam-lega...ransfer-tax.php

Taxation on progression rate 1 to 80,000 = exempt 80,001 - 100,000 = 5% (1,000) 100,001 383,333.33 = 10% (28,333.23) Total = 29,333.23 (1,000 + 28,333.23)

Geez, I hope I have this all wrong.

Note, I had been trying to get this information off the Sunbelt site and use those links, but I failed to find that.

Input the sample data for a property owned 5 years and you get a percentage of 5.9666 recurring, which is a lot closer to 6% than 37%