ProdigalSon Posted January 22, 2013 Share Posted January 22, 2013 ...what is the transferral of ownership cost? Is it a percentage of the sale price? I understand that usually this cost is split between the buyer and seller. Also, does the seller have to pay an additional fee/tax based on the sale price? I guess this is some kind of stamp duty? Thanks in advance for your answers :-) Link to comment Share on other sites More sharing options...
sotsira Posted January 22, 2013 Share Posted January 22, 2013 Depends on the length of ownership by the seller, and the estimated valuation from the land office compared to the declared sale price to the land office. Every calculation has 3 taxes and they amount to approx 7% of the sale. Link to comment Share on other sites More sharing options...
ProdigalSon Posted January 22, 2013 Author Share Posted January 22, 2013 Thanks Sotsira. And who is usually responsible for paying these taxes - is it the seller or the buyer or both? Link to comment Share on other sites More sharing options...
vtjforyou Posted January 22, 2013 Share Posted January 22, 2013 If we declare less do we pay less ? Link to comment Share on other sites More sharing options...
JSixpack Posted January 23, 2013 Share Posted January 23, 2013 Thanks Sotsira. And who is usually responsible for paying these taxes - is it the seller or the buyer or both? Negotiable between buyer and seller. Link to comment Share on other sites More sharing options...
sotsira Posted January 23, 2013 Share Posted January 23, 2013 If we declare less do we pay less ? If you declare less than the estimated land office valuation then the taxes are calculated based on their estimated valuation. If you declare more than the estimated valuation, then the taxes are calculated on that figure instead, hence the taxes will be higher. Link to comment Share on other sites More sharing options...
bangkok101 Posted January 23, 2013 Share Posted January 23, 2013 when I transfered my condo I paid transfers fees which equated to less than the sales price of the condo, not much difference but when I transferred the land office said my fees were based on a lower amount than I actually paid which surprised me. Link to comment Share on other sites More sharing options...
breadbin Posted January 23, 2013 Share Posted January 23, 2013 Best thing to do is go to the land office and ask them. They will be able to tell you the exact fee. Then no more guessing. Link to comment Share on other sites More sharing options...
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