Condo Transfer Fee's And Taxes

[sweden4ever]

We intends to sell our condo which we bought in 2009 for 2,95 million. we have a buyer who will buy it next year for 3,5 million.

Which fee´s and taxes must be paid?

Thanks

[PattayaPhom]

That's one for the naysayers, 20% profit over 4 years.

[Langsuan Man]

Split the transfer fees with the buyer, is the norm in Thailand

Edited November 27, 2012 by Langsuan Man

[hyperboyz9]

About selling the house in Thailand, the basic of Tax and transfee fee + other fee ( if any) we will calculate from 6% following;

3.3% for the tax fee ( Buy not over 5 years /or don't have the name in the household for 1 year )

2% for transfer fee ( Mostly, we spilt half/ half between seller and buyer )

0.6% ffor other fee ( if any )

[54321]

That's one for the naysayers, 20% profit over 4 years.

They will still no doubt question the wisdom of owning property.

Good luck to the seller. Approx 20% over 4 years is good, and guessing the owners would have needed to rent a condo for at least 15,000 pm (at a guess, and maybe more) had they not bought, thats 720,000 saved in rent over 4 years

[ballbreaker]

OP check below link.

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

[khunken]

Transfer fees explained here: http://lawonline.weebly.com/property-transfer-tax-and-fee.html

[sotsira]

An approximate calculation of all the tax & transfer fees is 7% of the appraised value or the declared

sale price to the land office. ( whichever is the higher).

You should also negotiate with the buyer in whether, you or they should pay this fee, or whether it's

shared 50-50.

You can also take your title deeds to the land office prior to selling and ask them to calculate the fees for you,

this way you know exactly what the total fees are.

[BlackPuddingBertha]

... 20% profit over 4 years.

Make that 20% less agent's commission and less tax, which could be pushing 10% in total.

And of course the deal isn't actually done yet.

I can show you 50 people who would be delighted to sell for what they paid for their units a few years ago, let alone show a profit.

[BEVUP]

Interesting info & in the links

In a situation similar to above about fees

Wife buying second house in MooBaan ( I thought i also read some where there could be a tax for this purchase ) Plan to live in it

Pretty sure MooBaan under 5 yrs old

Buying direct fom Developer so no banks - initial deposit + taxes & rest over 5 yr period

From reading these posts sounds like the figure of 0.075 % may be right

But heres the question

Why so high if the buyer only has to pay Stamp Duty - I know its been mentioned of 50/50, but woudnt you think they have already factored that in

[JomtienEats]

Not sure exactly what you're asking, but I think the reason tax to pay on the sale will be high is because either

i) a property is being sold without being held for 5 years in which case a 3.3% fee applies

ii) a property has been held for 5 years or more in which case the 'income' witholding tax starts to add up (this seems to be generally poorly understood. I think I have my head around it - it's basically a yearly property tax but is only paid when the property is sold.)