Dear readers,

I want to purchase a condo which is yet to be built namely Olympus in central Pattya. The project developer is the Globel Top Group. They also want me to pay 2% transfer tax.

My question, is this a good property developer? Can I refuse to pay 2% transfer tax?

Regards,

Constant

9 responses to “Reader question: Buying a condo, whether or not to pay transfer tax?”

  1. rinus says up

    hello steady,

    Thai law is very clear about this: if you buy a condo from a development (first time buyer)
    then you pay half of the transfer fee (currently 2%), so 1%.

    you only have to pay this when you make the transfer, so have your condo registered in your name (land office).

    I would have the contract checked carefully, there are probably more hidden / incorrect ones
    rules. (I speak from experience).

    so half of the applicable transfer fee. if they refuse, it is better to cancel the purchase altogether.

  2. rob says up

    I bought from the same one, but for City Garden Tower.
    Global Top Group are developers, they don't even own the land yet. This landowner becomes a partner in the construction. After the project is finished, a “land book” is created for each Condo at the municipality. Fees are required here. Now the contract probably says: The Buyer know and agree to share equally 50/50 with the seller all the tax, Transfer fees and expense (6,3%) from unit.
    So clearly laid down in the contract and with every “ground action” the municipality gets its share.

  3. Harrybr says up

    There is probably a tax office or land register in Pataya that can answer this.

  4. Ruud says up

    2% is normal, sometimes it is split (50/50) between project developer and buyer; help buying a condo, check it out http://www.baannethai.com

  5. Henk Span says up

    Two percent transfer fee is legal and normal and nothing wrong with that
    Global Top is one of the best developer in this region
    So no worries

    • l.low size says up

      It is not customary to pay transfer or transfer tax in advance.
      Sometimes half is paid by the seller.

      Or inquire at the land office or have it advised by a lawyer.

      Check the contract carefully again!

  6. grain says up

    i have bad experiences with buying a condominium yet to be built. It is better to buy a finished one with a proper contract or an already used one. There are a lot of offers.
    Be careful. It cost me a lot the never built ZEN project in Jomtien.
    (by the way I have a 2/2 condo Paradise Park Resort Jomtien on the 8th floor for sale. 0874845321

  7. Jos says up

    I used to buy a condo Avenue Recidence 100 percent transfer fee paid. I sold it back because it didn't yield much and more problems with tenants who weren't always clean. It's not theirs anyway. When resale paid 50 percent, the custom is each half when resale. But if you buy from the condo sellers then they don't do 50/50. Also watch out for some real estate agents in Pattaya cheating you. So I paid 150 percent.

  8. Karel says up

    It is full of already built codos in Pattaya, this is much better than an unbuilt building.
    See the ZEN project, the risk is too great.

    Never do.


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