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soistalker

Selling our condo after buying it a year earlier

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My farang wife and I bought a condo in a very desirable condominium complex in Jomtien a year ago. We are considering selling it and moving to the countryside back in Farangland, where we can get land and a house for not all that much more than what we could get for the Jomtien condo. 

My question is: are there any adverse Thailand tax penalties for buying than selling after a year or so? Any difficulties?

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The answer is Yes.

Since you've had it less than 5 years you will be subject to the Business tax, which as I recall is either 3 or 5%.

I got stung by the same thing on one of my condo's too

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All explained here: https://www.samuiforsale.com/real-estate/condominium-transfer-tax-and-fees.html

 

Fees & taxes are usually 50:50 as outlined in Sales Agreement or however the parties agree. Have bought  units in all 3 versions, all incl. 100% by Seller, 50:50 or 100% by Buyer.

The extra business tax for short-term holding/sale really is not much of an issue, if you sell a quality

condo at a fair price. Contrary to common comments, I think good units in good location and well managed 

buildings sell pretty fast. Regards.  MS>

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9 hours ago, moonseeker said:

All explained here: https://www.samuiforsale.com/real-estate/condominium-transfer-tax-and-fees.html

 

Fees & taxes are usually 50:50 as outlined in Sales Agreement or however the parties agree. Have bought  units in all 3 versions, all incl. 100% by Seller, 50:50 or 100% by Buyer.

The extra business tax for short-term holding/sale really is not much of an issue, if you sell a quality

condo at a fair price. Contrary to common comments, I think good units in good location and well managed 

buildings sell pretty fast. Regards.  MS>

Agree.  My partner and I have sold a number of condos after only owning them for a year or less and almost all of them were sold with 50/50 transfer and the extra fees weren't an issue.

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So, the 50/50 transfer fee would include the penalty for selling before 5 years? I would basically be sharing the penalty with the buyer?

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I would like to know where you can get a house and land in Europe for the price of a Jomtien condo?

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19 minutes ago, Henryford said:

I would like to know where you can get a house and land in Europe for the price of a Jomtien condo?

Southern Spain has many houses for sale at around 20,000E (800,000bht) with plenty of land.

I'd buy a wreck, camp in it white rebuilding, this one 11,000E

http://www.spanish-inland-properties.com/property/1766-rural-property-sale-don-pedro.html

 

But if you want a place you can move right in for 20,000E

http://www.spanish-inland-properties.com/property/2375-town-house-sale-quesada.html

Edited by BritManToo
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Example sale condo of lets say 4 M bht.

 

what be the business tax after 

1 year

2 year

3 year

 

not the other taxes only that extra tax for sell within 5 years.

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18 hours ago, GinBoy2 said:

The answer is Yes.

Since you've had it less than 5 years you will be subject to the Business tax, which as I recall is either 3 or 5%.

I got stung by the same thing on one of my condo's too

If they live there and the Thai wife is in the blue book then they will not pay the 3% Business tax

 

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27 minutes ago, Queen4ADay said:

If they live there and the Thai wife is in the blue book then they will not pay the 3% Business tax

 

OP said farang wife.

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30 minutes ago, Queen4ADay said:

If they live there and the Thai wife is in the blue book then they will not pay the 3% Business tax

 

Did you read the o/p?

 

20 hours ago, soistalker said:

My farang wife and I bought a condo in

 

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So from your previous thread "large man moving furniture all hours of the morning" this is the reply that won?

 

And what you going to do with the cat you dont own?

Edited by BigT73

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BANGKOK 25 September 2018 10:27
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