urgent advice needed about when to hand over cash for land

[Robert24]

Has anyone any idea how much transfer costs are? It's gonna be bought in her dads name but someone just told us we will have to pay the taxes again when her dad transfers to us. Even if he gifts it to her

that's correct. But it isn't much from my recollection. Single digit % from the land value.

It's actually 3.5 % I found out today.

As the seller her dad (us) would have to pay and as the buyer we would also have to pay.

That's not cheap

yes but maybe a reason for you to buy it in your wife's name instead of her father's name?

Like I already said, wife is here with me not in Thailand. If she was there we wouldn't have any problems

ok got it. So the only alternatives I can think of is that you just ask her dad to write a will for this piece of land or you wait with the purchase until you are next time in Thailand. Personally I think maybe better to give it some time unless you really think this is a great opportunity which you don't want to miss out. Anyway good luck with it!

[KonaRain]

Wife can ask Dad if attorney can get involved?

respect..

if no, a better deal will show up..

no offense meant..

alohz

[irlguy1]

Wife can ask Dad if attorney can get involved?

respect..

if no, a better deal will show up..

no offense meant..

alohz

Dad has no objection to anything. He only doing it as a favour. Problem is though it's gonna cost on the double as have to pay taxes due by him to transfer the land and us to buy it so it's all balls really

[petejjj]

TAX........yes it was 3.5% of the sale price

In our case, sale price was nominated by seller.

I believe that the land dept can nominate the market value if they dispute the nominated sale price.

-p

[chiang mai]

The declared value of the sale cannot be less than the prior sale value. Also, the LO in most areas carries valuations against which they compare new sales transactions.

Edited September 2, 2015 by chiang mai