Important information to the buyer!
The lawyer must now perform
a legal inspection of the property.
Transfer the property in the
buyer's name (usually within 4 weeks after the buyer paid a deposit),
it is time to go to the notary (Notary Public) to sign the new
deed (eskritura) and pay the balance up to the property's total
The signed deed will be presented
to the Land Registry, this is normally done by the buyer's lawyer.
The property will now be registered at the Land Registry, in
the buyer's name, which in some cases can take up to six months.
Taxes and fees associated with
1. Fee for new registration of ownership: 8-10% of the value of the property in title deed.
2. Stamp duty, land registry: 350-1000 .
3. Notary fee: 500 - 1,500 depending on the property price.
4. Attorney Fees: 1 - 1,5% + VAT (21%) of the purchase price.
5. Cost of amending contracts for electricity and water, and updating of installations, such as fuse box (fuse installation).
»»» Total cost: Rule of thumb, expect about 12% of the purchase price.