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What are transfer fees in Thailand property purchase and who pays them?

  • Ocean Worldwide by Ocean Worldwide
  • 3 months ago
  • Updates

When purchasing property in Thailand, it is important to understand the various fees and costs associated with the transaction. One of the key expenses that buyers need to be aware of is the transfer fee.

The transfer fee is a tax that is levied on the transfer of ownership of a property. In Thailand, the transfer fee is typically 2% of the appraised value of the property. This fee is paid to the local land office at the time of the transfer of ownership.

In most cases, the transfer fee is split between the buyer and the seller. However, it is common for the buyer to cover the majority of the fee. It is important to negotiate the payment of the transfer fee as part of the purchase agreement to avoid any misunderstandings or disputes later on.

In addition to the transfer fee, buyers should also be aware of other costs associated with purchasing property in Thailand, such as stamp duty, specific business tax, and withholding tax. These additional expenses can vary depending on the type of property being purchased and the specific circumstances of the transaction.

It is important for buyers to work with a reputable real estate agent or lawyer who can provide guidance on the various fees and taxes associated with property purchases in Thailand. They can also help ensure that all necessary payments are made in a timely manner to avoid any delays or complications in the transfer of ownership.

Overall, understanding the transfer fees and other costs associated with purchasing property in Thailand is essential for buyers to budget effectively and avoid any unexpected expenses. By working with a knowledgeable professional, buyers can navigate the process with confidence and ensure a smooth and successful property purchase.

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Ocean Worldwide

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