Buyer And Sellers Closing Cost On House

[Orangutan]

Hello,

I am interested in buying a 4 1/2 story (has mezzanine floor) shophouse. The seller has reduced the price from 5.3 million baht to 4.5 million baht. My wife had a brief telephone conversation with the owner, she asked if he was willing to lower the price. He said that he would pay all the necessary fees if we paid the 4.5 million baht, or he would take 4.3 million baht and we pay the fees.

Does anyone know what fees the buyer and seller are responsible for? If previously discussed I would appreciate a link to this topic.

Many thanks,

-O

[LennyW]

Previously posted by board member "stgrhe"

There are four items:

1. Transfer fee = 2% of the registered value of the property

2. Stamp duty = 0.5% of registered value. Only payable if exempt from business tax

3. Withholding tax = 1% of the appraised value of the property

4. Business tax = 3.3% of the appraised value of the property if selling within 5 years. This applies to both individuals and companies

The transfer fee is the only one that normally should be payed by the buyer. The stamp duty and the taxes should be carried by the seller.

[Orangutan]

Previously posted by board member "stgrhe"

There are four items:

1. Transfer fee = 2% of the registered value of the property

2. Stamp duty = 0.5% of registered value. Only payable if exempt from business tax

3. Withholding tax = 1% of the appraised value of the property

4. Business tax = 3.3% of the appraised value of the property if selling within 5 years. This applies to both individuals and companies

The transfer fee is the only one that normally should be payed by the buyer. The stamp duty and the taxes should be carried by the seller.

Thanks Lenny.

-O

[cheeryble]

There are four items:

1. Transfer fee = 2% of the registered value of the property

2. Stamp duty = 0.5% of registered value. Only payable if exempt from business tax

3. Withholding tax = 1% of the appraised value of the property

4. Business tax = 3.3% of the appraised value of the property if selling within 5 years. This applies to both individuals and companies

The transfer fee is the only one that normally should be payed by the buyer. The stamp duty and the taxes should be carried by the seller.

Is the business tax payable if someone inherits in less than 5 years or not?

thanks

Cheeryble

[ballbreaker]

Previously posted by board member "stgrhe"

There are four items:

1. Transfer fee = 2% of the registered value of the property

2. Stamp duty = 0.5% of registered value. Only payable if exempt from business tax

3. Withholding tax = 1% of the appraised value of the property

4. Business tax = 3.3% of the appraised value of the property if selling within 5 years. This applies to both individuals and companies

The transfer fee is the only one that normally should be payed by the buyer. The stamp duty and the taxes should be carried by the seller.

Above are the fees when you have a buyer and seller.

Which ones are applicable when someone inherits land and house in a will?

Edited June 13, 2011 by ballbreaker