teemuj Posted October 18, 2016 Share Posted October 18, 2016 How is the condo appraised value calculated at the land office when selling the condo? Based on sales on the same condo building, or the general area? Link to comment Share on other sites More sharing options...
dotpoom Posted October 19, 2016 Share Posted October 19, 2016 Wife tells me it's by the area. Link to comment Share on other sites More sharing options...
Familyaffairs Posted October 19, 2016 Share Posted October 19, 2016 Land dept appraised value Link to comment Share on other sites More sharing options...
thairookie Posted October 19, 2016 Share Posted October 19, 2016 The Land Office will not reveal how it's done. It's arbitrary at best and it's really up to the officers in the Land Office. Apparently, the appraised value is so much higher in Pattaya compared to Bangkok. They have never given any justification. While Land Office collects 2% (1% each from buyer and seller), many developers in Pattaya collect 6%. The nice ones will split the 6% and you end up paying 3%. That way they don't have to pay for their own 1% transfer fee, and they get an extra 1% from you. And all developers sales contracts are prepared by big law firms in Pattaya. Link to comment Share on other sites More sharing options...
little mary sunshine Posted October 19, 2016 Share Posted October 19, 2016 Simple calculation:. Expect to sell it for 2/3 of what you paid for it after two or three years on the market!! Link to comment Share on other sites More sharing options...
blackcab Posted October 19, 2016 Share Posted October 19, 2016 The land office will have previously assessed the condo and given it an appraised price per square meter. For each condo it's the square meters as listed on the chanote, multiplied by the previously determined assessed value per square meter. If you go to the office of the land department they will tell you what the assessed psm is. Link to comment Share on other sites More sharing options...
KittenKong Posted October 19, 2016 Share Posted October 19, 2016 18 minutes ago, blackcab said: The land office will have previously assessed the condo and given it an appraised price per square meter. For each condo it's the square meters as listed on the chanote, multiplied by the previously determined assessed value per square meter. Do they also take account of which floor the unit is on? In some buildings the difference is significant. I also wonder if they take into account the farang-name supplement that exists in many buildings? Link to comment Share on other sites More sharing options...
Delight Posted October 19, 2016 Share Posted October 19, 2016 From what I know the variables per meter 2 are : 1) The floor number –higher floors have higher valuations. 2) Within an individual condo the balcony area is lower rated than the residential area 3) Ground floor commercial property is cheaper than residential area The values are supposed to be reviewed every 4 years. This tends not to happen Tha actual valuations seem to be entirely subjective If there is a formula . then this formula is a secret-it appears Link to comment Share on other sites More sharing options...
blackcab Posted October 19, 2016 Share Posted October 19, 2016 3 hours ago, KittenKong said: I also wonder if they take into account the farang-name supplement that exists in many buildings? No. They really don't care who owns the units. Link to comment Share on other sites More sharing options...
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