8. WHAT ADDITIONAL COSTS WILL I INCUR WHEN BUYING REAL ESTATE IN GERMANY?
Additional costs when buying real estate in Germany are inevitable:
Notarization: approximately 1.5% of the price fixed in the notarized sales contract.
One-time tax on the purchase of real estate in Bavaria: 3.5% of the price fixed in the notarial sales contract.
Small legal fees (preliminary and final registration, deletion of entries in the land register, obtaining an extract from the land register) amount to about 0.5%.
When buying a real estate in Germany, a broker’s fee is usually 3.57 – 7.14% of the price stated in the notarial sales contract. In this broker’s fee includes: services of intermediaries, translators, as well as full support of the client not only to the signing of the contract of sale, but also follow-up support in Russian until the final registration in the Land Register and receive an extract from it.
Brokerage fees for each individual property may deviate from these amounts.
Read more about obtaining a mortgage here!
Our company WIP Immobilien GmbH has extensive experience in the German real estate market. Please contact us, we will help you to choose a notary and we will see to it that all expenses when buying property in Germany, do not go beyond the limit of what is necessary.