Buying real estate : what additional costs will you have to pay?
You wish to buy a house or an apartment? Calibrate your budget well because additional costs are to be paid in addition to the purchase price of the property.
Remuneration of the professional in charge of the transaction
A real estate agent acted as an intermediary during the transaction between you and the seller? Fees must be paid to him and they are not supervised.
The real estate advertisement must indicate the amount of these fees (as a percentage) and who has to pay them, the seller or the buyer. Generally, they are paid by the seller.
If the fees are payable by the buyer, the advertisement must stipulate the selling price of the property including agency fees and the selling price of the property excluding fees.
A notary may also act as an intermediary, and his remuneration is set out in a fee agreement.
The costs related to the signing of the deed of sale
In the case of a property purchase, notary fees are payable, which are the responsibility of the buyer. In the case of an old property, they represent 7% to 8% of the selling price and 3% to 4% in the case of a new property.
These are taxes (known as “registration fees”), most of which are paid by the State and local authorities.
Notary fees also include what are known as fees and disbursements (fees advanced by the notary for obtaining planning documents, etc.), as well as the notary’s remuneration according to a scale based on the price of the property.
Namely, the notary asks for a provision on the amount of the costs and his emoluments.
Costs related to the real estate loan
Are you financing your project with a home loan? When the funds are released, the bank will ask you to pay a certain number of fees, which are added to the amount of your loan.
The National Agency for Housing Information (Anil) states that there are application fees to take out a loan, which are set at a flat rate or as a percentage of the borrowed capital. This amount is negotiable.