What is a house transfer fee?

  ;    House transfer fee is the expense incurred at the land office on the day of the house transfer. This does not include only house transfer fees or house ownership transfer fees. But there are also many expenses such as duties, income tax, mortgage payments, etc.

     If you buy a house with a real estate development project Home buyers may have received information about costs on the day of home transfer in advance. But if you are trading with a person, you may not receive clear information from the seller about what the costs are and how much. Buyers should research and calculate the house price including house transfer costs in advance. To compare all costs before deciding to buy a home. and to prepare money to pay for the house transfer This is a rather high amount.

Who is responsible for the house transfer cost?

1. House transfer fee  Calculated as 2% of the appraised value of the land including buildings. Generally it is a shared expense. and share 1% between the buyer and seller. There may be cases where the seller who is an individual does not reduce the price of the house but the seller offers to pay all the house transfer fees. or other cases according to the agreement between the buyer and seller. By checking the appraised price from the Treasury Department.
2. Specific business tax  Generally, the seller's expenses are calculated at a rate of 3.3% of the purchase price. However, the seller must own the house for no more than 5 years. However, if the owner has occupied it for more than 5 years or has had his name in the house registration for more than 1 year, he or she will not have to pay specific business taxes. But the seller must pay stamp duty instead.
3. Stamp duty value  Generally, the seller's expense is 0.5% of the purchase price. But it must not be lower than the appraised value of the land. If it is lower Use the appraised value of the land to calculate. But in cases where the seller is liable to pay specific business tax, they do not have to pay stamp duty.
4. Personal income tax  In the case where the seller is a natural person, the seller must pay this tax because he is the person who earns income from the trading transaction. Personal income tax is calculated at a progressive rate in steps. And the amount of tax paid depends on the method of acquisition and the number of years of ownership. For example, if you acquire it by purchasing and hold it for a long time, you will have to pay a large amount of house transfer tax. This is based on the land and building appraisal prices of the Land Department. Without paying attention to what the actual purchase price is.
5. value Mortgage  Calculated as 1% of the total loan amount And it is an expense for home buyers using a loan. If you buy with cash, you don't have to pay a mortgage.
   
   

< span style="font-size: 20px;">Government measures to reduce transfer and mortgage fees

     Cabinet meeting (Cabinet) on measures to reduce fees for transfer of ownership and registration of home real estate mortgages. Condo priced not more than 3 million baht, with rates set as follows.

1. Reduce ownership transfer fees from the normal rate of 2.00% to 1.00%
2. Reduce mortgage fees from the normal rate of 1.00% to 0.01%

Take for example the case of a buyer of a house priced at 3 million baht

-  Ownership transfer fee  Normally you have to pay 2% for 60,000 baht. When reduced to 1%, you will pay only 30,000 baht.

-  Real estate mortgage registration fees  Normally you have to pay 1% for 30,000 baht. When reduced to 0.01%, you will pay only 300 baht.

     In total, from having to pay ownership transfer and mortgage fees for a house worth 3 million baht from the original 90,000 baht, there will be only 30,300 baht.