Taxes When Buying/ Selling

[breadbin]

Hello all

Can anyone tell me whether the below is still in effect please? Thanks.

Stamp duty of 0.5% and transfer fees of 2% have, for now, been waived for the short term as the government entices buyers to the market.

[PattayaPhom]

No

[breadbin]

Didn't think so!!!

Cheers, cheered me up that has!!!!!

[Gweiloman]

I've tried searching but so far have not been able to find any details. I'm planning to buy a house in the very near future and would like to know (apart from the purchase price obviously), what other fees would I have to pay? Lawyer fees, stamp duties, transfer fees, any taxes etc etc?

I will also be paying cash so if there any way to negotiate with seller for lower purchase price?

Any info would be appreciated.

[breadbin]

You will need to negotiate what taxes you pay with the buyer.

It's also up to you whether you use a solicitor/lawyer etc.

It's a very simple process at the land office.

I would use one, pay around 10-15k baht and have a pre sales contract issued by the vendor. Make sure you agree with its contents before signing as you'll no doubt have up pay at least 10% non refundable deposit.

Good luck, sold my place and if honest I'd not buy in Thailand again even though I made decent money. Places are hard to sell sometimes unless its unique or below what other similar places are asking.

Good luck.

[Gweiloman]

You will need to negotiate what taxes you pay with the buyer.

It's also up to you whether you use a solicitor/lawyer etc.

It's a very simple process at the land office.

I would use one, pay around 10-15k baht and have a pre sales contract issued by the vendor. Make sure you agree with its contents before signing as you'll no doubt have up pay at least 10% non refundable deposit.

Good luck, sold my place and if honest I'd not buy in Thailand again even though I made decent money. Places are hard to sell sometimes unless its unique or below what other similar places are asking.

Good luck.

Thanks, appreciate the info.

It's always a question between buying and renting (believe there is an ongoing thread about this as well). Ultimately, it depends on individual circumstances and priorities. To me, the main advantages of buying is to have a guaranteed roof over my family's head and also the fact that I can drill however many holes I want wherever I want Can't do this in a rented place. Making a profit is secondary I guess.

[rayongchelsea]

You need to heed breadbins advice.

It is not about making a profit, that is indeed rare.

It's about if things don't work out for whatever reason, can you afford to move your family somewhere else and wait to sell.

I have sold and bought both houses and condos over many years..the only way to sell a house is to heavily discount to those on Sale around you which I have done and didn't mind because I knew that was the only way. I sold within one month with my last house and had competing buyers..it was all about the price.

I have learnt one thing, unless you are real handy with maintenance don't even think of buying, houses are generally poorly built..

If you have kids a house is of course better.

Mine have grown up...couldn't move back to a condo quick enough.

[Gweiloman]

You need to heed breadbins advice.

It is not about making a profit, that is indeed rare.

It's about if things don't work out for whatever reason, can you afford to move your family somewhere else and wait to sell.

I have sold and bought both houses and condos over many years..the only way to sell a house is to heavily discount to those on Sale around you which I have done and didn't mind because I knew that was the only way. I sold within one month with my last house and had competing buyers..it was all about the price.

I have learnt one thing, unless you are real handy with maintenance don't even think of buying, houses are generally poorly built..

If you have kids a house is of course better.

Mine have grown up...couldn't move back to a condo quick enough.

Yes, I have a 2 yr old and also property is located near Suvarnabhumi which is convenient as I travel about twice a month. It's in a gated community, I live there (in a different house) at the moment and it's a nice neighbourhood with other kids similar in age to mine so it's quite suitable.

I guess next step is to agree on a purchase price. Thanks for all the advise on this board.