THE COSTS

In addition to the agreed purchase price, you will also be responsible for legal costs (as in the UK), agency fees (unlike the UK) and property transfer tax (similar to stamp duty).

PURCHASE TAX

Tax is payable by the purchaser based on the value of the property AS VALUED BY THE TAX OFFICE. This is typically (though not always) less than the actual (agreed purchase price) value, and it is the Tax Office valuation which will appear in the contract. The tax payable is roughly between 7% and 9% of the valuation, but the amount is reduced for a married couple purchasing in joint names.

LEGAL FEES

The NOTARY will typically charge 2 - 2.5% of the Tax Office valuation, while the solicitor may charge 1 - 1.5% of the actual purchase price. These figures may vary, however, and obtaining quotations is of course advisable.

ESTATE AGENTS

Estate Agents will charge 2% + VAT (18%) of the purchase price TO THE PURCHASER as well as the vendor.