The incidental purchase costs that are incurred in addition to the purchase price for the property are not insignificant.
These costs must be taken into account from the outset. If you buy directly from the developer or owner, you acquire the property without commission. If the mediation runs over a broker, a brokerage fee becomes. Notary fees are incurred by the buyer for the certification of the purchase contract. About 0.5 percent of the purchase sum costs the land register entry, which the land registry office charges for the registration of the property rights – ownership, mortgages or land charges. The tax office also makes demands: The land transfer tax is calculated proportionately to the total purchase price, and the tax rate varies depending on the federal state. In the case of banks and financial institutions, in addition to the fixed costs for interest and redemption, there may be further costs such as valuation fees or commitment interest in the event of a loan not being drawn down on time.
It makes sense to obtain comprehensive information on all possible ancillary purchase costs before making a purchase. To cover all aspects of financing and costs, consult not only financing experts and bank advisors but also your tax advisor or notary.