Acquisition costs

When buying a property, you must consider several costs you will encounter during the buying process. Generally, we often refer to those costs under the collective term “notary fees”.

Acquisition costs

When buying a property, you must consider several costs you will encounter during the buying process. Generally, we often refer to those costs under the collective term “notary fees”.

In practice, those different costs are segmented as follows:

  • Registration fees: tax charged by the notary on behalf of the State and the Regions. This tax varies according to the region in which the property is located and a few exceptions exists to obtain a discount;
  • Notary fees: the work accomplished by the notary deserves remuneration. These fees are fixed by royal decree and your notary must respect this scale.
  • Other expenses: the notary carries out some compulsory administrative formalities to prepare his deed of transfer of ownership, such as tax or mortgage research, to name a few. These costs are ultimately paid by the purchaser.
  • Credit-related costs: in addition to the refund of your bank charges (interests, administration fees, etc.), the costs of a mortgage (registration tax) should be taken into account.

 

In addition to the aforementioned costs, 21% VAT should be added on honorary and administrative costs.

For more information, please read our expert news “VAT and acquisition of a newly built building” and “Registration fees”.