Condo Transfer Fee's?

[bthai2012]

Hello all,

I appologise if this question has already been answered, I have tried searching on the forum but I didn't have any luck with the results.

I would like to know approximate transfer fees for selling a condo if you are selling at a loss

The property has been owned by the current owner for 7.5-8 years

The property is 32 sqm

I have read various pages that explain that the fees are calculated on several factors i.e

How long the property has been owned(if over a certain period no fees or less fees are paid)

The difference between the purchased price and the selling price(this would be easier to calculate if there was a profit in the sale but the property is being sold for less money that the purchase price)

I believe there may be some other details that I'm unaware of e.g

Government deciding what price the property is worth per m2..but I'm unsure how they can dictate what price you must sell your property for and perhaps there are some other details that I am unaware of ?

I would appreciate if anyone with experience could advise on the approximate transfer fee's and offer any relevant advice

Thanks in advance

[ballbreaker]

Read: http://www.samuiforsale.com/real-estate/condominium-transfer-tax-and-fees.html

[bthai2012]

hi ballbreaker,

Thanks for taking the time to post, I've read similar pages but I get confused as they usually refer to an ownership of 3 years and as such there are fees to be paid

I've read that once a property has been owned over a certain period 5+ years then no fees are paid, I was looking for confirmation of this

The other query I had was that some of the fees are calculated based on profit made from the property e.g purchase for 1 million and sell for 1.5 million, then as I understand it you would pay a % of the profit (500k) in tax, however, I am confused as to how this applies when there is no profit made on the property i.e how can you pay tax on profit when there is no profit made

With this in mind I am unsure if the property is only subject to a % of the selling price e.g 1-2 % 1 mil is approx 10,000-20,000 baht and would that be the total fees due + solicitors fees

I hope the above makes sense and that someone could give me advice based on the above

Thanks again

[sotsira]

The taxes are calculated in 2 different ways depending on the length of time the current

owner has owned the condo, under 5yrs or over 5yrs.

Expect to pay between 5-7% of the land office valuation or the declared selling price

whichever is higher.