A real estate agent who brokered the property for you usually charges you, the buyer, 3% of the purchase price as a commission. The real estate agent has given you detailed advice, given you all the documents relating to the property and is available to you with advice and action as well as any questions.
In addition, the broker also takes care of the transaction. He is the mediator between the seller and buyer of a property. The statutory sales tax is added to the 3%, so that it is 3.6% in the end.
After the purchase has been completed, you will receive an invoice from the broker, which you then transfer directly to the broker.
The real estate transfer tax is 3.5% of the purchase price. The real estate transfer tax is transferred to the trustee together with the purchase price. The trustee is the lawyer who draws up the contract and takes care of the execution. The trustee registers the purchase with the tax authorities and transfers the property transfer tax to the tax office.
When buying a property, you as the buyer pay 1.1% of the purchase price as a land registry fee. The registration fee is transferred together with the purchase price to the trustee, who then transfers it to the district court.
If you finance the purchase of the property with third-party financing, i.e. take out a loan from a bank, the bank secures the repayment with a lien. This lien is entered in the land register, which costs 1.2% of the amount of the registered lien. Usually the banks enter a slightly higher amount than the loan. You pay the registration fee for the lien directly to your bank, which transfers the amount to the district court.
If you do not finance the property through a bank, e.g. pay from your savings, these costs do not apply
The lawyer who draws up the contract also acts as a trustee. He takes care of the formalities, carries out the official correspondence, arranges the entry of the buyer in the land register and manages the escrow account. He is under the supervision of the Bar Association.
You pay the purchase price into an escrow account set up by the trustee.
The costs for the establishment of the contract and the processing are usually around 1.5 – 2% of the purchase price. In addition, there is sales tax and cash expenses, i.e. costs that have arisen in the trustee’s office, e.g. for copies and postage.
The trustee sends you as the buyer an invoice after the transaction, which you transfer directly to him.
The notary, with whom you sign the purchase contract, charges costs for the certification. You pay this directly to the notary. With a purchase price of EUR 350,000, this is around EUR 300.