Glossary · Costs and income
Transfer fee
In short
The Land Office's fee for registering a change of ownership: 2 percent of the value it assesses for the property. Between a developer and a condominium buyer it is split equally.
What it means
The transfer fee is charged when ownership is registered. It is calculated on the Land Office's own assessed value for the property, which is often lower than the price in the contract.
Who pays it
When you buy a condominium unit from a developer, the standard contract divides the fee equally between buyer and developer. In a resale the split is whatever buyer and seller agree. The taxes on the sale itself, which fall on the seller, are a separate matter.
From time to time the government cuts the fee temporarily for lower-priced homes bought by Thai nationals. Those cuts have not applied to foreign buyers.
What to check
Your contract lists who pays which cost at transfer. Read that list instead of relying on custom, and ask for an estimate of the amounts before the day.