The documents, the taxes and the pricing that decide how quickly — and cleanly — a sale completes.
Most sales that stall do so for reasons the seller could have fixed before listing: a missing document, a surprise tax bill, or a price set against asking prices instead of what has actually sold.
The documents
Have the original title deed, your passport, and — if a company owns the property — its registration documents and shareholder records. For a villa, add the building permit and any completion paperwork. For a condominium, the building’s juristic person must issue a letter confirming there are no outstanding fees before the Land Office will transfer the unit.
The taxes
If you have owned the property for less than five years, specific business tax of 3.3% applies to the higher of the appraised value or the sale price; after five years — or, for an individual, once your name has been in the house registration for at least a year — stamp duty of 0.5% applies instead. Withholding tax is also collected at transfer. The 2% transfer fee is usually negotiated between buyer and seller. Knowing these figures before you set a price avoids a painful surprise at the Land Office.
The price
Price against closed sales of similar properties nearby, not against what other sellers are asking. The Land Office appraisal is useful for calculating taxes, but it is rarely the market value. A realistic price at launch tends to beat a high price that is cut later.
Leasehold sales
If you hold a lease, what you are selling is the remaining term. Check the lease terms on transfer to a new tenant and any consent the landowner must give, and expect buyers to value the property on the years left.
Taking the money home
A foreign owner who brought the purchase money into Thailand can send the sale proceeds back out. Keep the original Foreign Exchange Transaction form from your purchase — your bank will ask for it.
We prepare this checklist with every seller before a property goes to market. Request a valuation and we will start with it.