The price isn't the only money you'll need. Before you put down a deposit, budget for these too, so there's no scramble for cash before transfer day.
The gap the bank won't lend
Banks lend against their own valuation, which can be lower than the agreed price. You pay the difference yourself. For a second home or more, banks lend less under the Bank of Thailand's LTV rules, so get a pre-approval before you pay a deposit.
Transfer-day costs at the Land Office
- Transfer fee: normally 2% of the Land Office's appraised value, usually split with the seller, but negotiable.
- Mortgage registration: 1% of the loan amount, only if you borrow.
- The seller's taxes (income tax, specific business tax or stamp duty) are normally the seller's. Put it in writing in the sale agreement.
Bank costs
Valuation, loan fees and fire insurance. Some banks also ask for mortgage life cover. Ask for the full list when you apply.
Costs people forget
- Common fees paid in advance, and the sinking fund, where the estate or condo charges one.
- A pre-transfer home inspection, and fixing what it finds.
- Moving, transferring the water and electricity meters, and small furnishing costs.
The government cuts transfer and mortgage fees from time to time for homes under a price cap. Check what applies before transfer day, or ask our team.
Taxes and fees change with government measures. Check with the Land Office or our team before transfer day.