When should we pay for Transfer Fee?

Transfer Fee paid when the property is transferred to the Metropolitan Land Office, equal to 0.01% of the total purchase price of the land and buildings. For houses and condominiums priced under 3 million baht, the seller pays half of the purchase price to the buyer (Depends on agreement between buyer and seller).

What kinds of properties qualify for the transfer fee?

• Townhouses
• Two-family residential buildings
• Single-family residential buildings
• Licensed and registered under the Condominium Act
• Commercial Buildings
• Land and Building

Calculation of Transfer Fee - Mortgage Fee

Land transfer process

1. Complete the application and prepare the land transfer documents.
2. Submit the application and supporting documents to the Preliminary Documents Officer. If the document is correct, stand in line to request the land transfer.
3. When it comes to the queue, have the transferor and transferee sign the deed in front of the officer.
4. The officer will assess the value of the land and calculate the cost of relocating it. Prepared to provide us with a transfer fee spreadsheet for paying the transfer in the finance department.
5. After receiving the expense spreadsheet, take the payment to the finance office, which will issue you two types of receipts: blue and yellow. By returning the yellow to the officer who signed the document, the blue to the buyer, and the original expense keep with the seller.
6. The officer will print the endorsement on the back of the title deed and hand it over to ensure its accuracy. Following the completion of the inspection, a title deed, as well as the contract of land sale (T.D. 13) will be received. Then the buyer or transferee will be the sole owner of the land.

Example of title deed

Example of the contract of land sale (T.D. 13)

It's good news for investors and those looking to purchase a new home. In comparison to the previous transfer of 2%, the current transfer of 0.01% is extremely low. That means now is a good time to purchase this!

If you are interested in purchasing real estate or require advice, please contact us at PropertyScout

Source : Departments of Lands