Selling My Condo

[bobroper]

I am in the process of selling my condo.

The Thai lady I am selling it to has arranged a house loan with her bank and a representative of that bank will accompany us to the Land office to finalise details.

I am a British individual living in Thailand and being a foreigner hold 49% of the condo.

When at the Land office, I will be paying the 2% transfer fee (agreed with the buyer), together with 0.5% stamp duty.

My question is, will there be any other fees involved?

Regards

[PattayaParent]

You only own 49% of the condo?

Does the owner of the other 51% know you are selling your share?

[JeffreyMcCollum]

From my experiance, The land office can base there numbers on anything they want, I sold mine for 500,000 and they said it was worth 750,000 Bt and taxed it at that. AND because I had it under 5 years they added a 5% income tax on it too. In total I paid 7.5% to transfer it.

[InterestedObserver]

You only own 49% of the condo?

Does the owner of the other 51% know you are selling your share?

Interesting question since I don't believe the Land Office can transfer 49% of a condominium. The OP appears to have omitted some of the ownership details. I'm sure the new owner expects to receive 100% of the title deed in his/her name.

Edited July 12, 2011 by InterestedObserver

[MrSmug]

From my experiance, The land office can base there numbers on anything they want, I sold mine for 500,000 and they said it was worth 750,000 Bt and taxed it at that. AND because I had it under 5 years they added a 5% income tax on it too. In total I paid 7.5% to transfer it.

Dick Turpins.

[ESB7]

From my experiance, The land office can base there numbers on anything they want, I sold mine for 500,000 and they said it was worth 750,000 Bt and taxed it at that. AND because I had it under 5 years they added a 5% income tax on it too. In total I paid 7.5% to transfer it.

Dick Turpins.

It can also work the other way, where you pay less but on a 500K shoebox, not really much scope