Costs to be considered when purchasing real estate.

Sometimes a buyer feels that the stated price of the property is the only cost that will be necessary to purchase the home they are looking at. The real situation is different. In order to avoid misunderstandings due to unexpected expenses during the purchase process, it is important to know the additional costs that must be taken into account when buying real estate.

Costs at the Notary

When making a transaction, a confirmation request must be signed by a notary (costs around 70-90 euros), without which it is not possible to make changes in the land register . The notary verifies the ownership rights of the person involved in the transaction and the seller, and also certifies the legality of the transaction.
In order to sell the property, a purchase contract must be concluded (the notary’s costs for the preparation of the contract are around 50-80 euros.).

Costs in the land register

State fee for the change of ownership – 1.5% of the real estate value.
Office fee for establishing a new right – 15 euros,
For issuing a land registry certificate – 8 euros,
If a mortgage loan is taken, then you have to pay an additional fee for mortgage consolidation – 15 euros.

Bank charges

Every borrower should expect additional costs when issuing a mortgage loan . In order for the bank to evaluate the loan application, the buyer must prepare a real estate appraisal, which costs approximately 80 euros.
The commission fee for issuing a loan is usually up to 1.5% of the transaction amount, as well as a state fee for confirming the mortgage in the land register (0.1% of the loan amount)
Transaction account costs are determined individually by each bank. On average, the cost of an escrow account is 0.4% of the transaction amount.

Professional advice from industry experts will be helpful

Although many still try to do everything themselves, wanting to save in this way, buyers of residential houses and apartments are increasingly turning to industry specialists. The help of an expert allows you to notice and assess in time what you may have missed, and avoid mistakes and problems. In case of questions, feel free to contact one of our colleagues