Closing costs when buying property

Costs usually paid by the buyer

• Legal fees for document review and the deed (they vary with value and complexity).
• Notary fees and Public Registry registration fees, calculated on the transaction value.
• With a mortgage: appraisal, bank handling fee, mortgage deed costs and life and fire insurance.
• Prorated HOA fees and utility deposits when you receive the property.

Costs usually paid by the seller

• Real estate transfer tax (2%).
• Capital gains income tax advance (3%).
• The real estate broker's commission, as agreed.
• Release of any existing mortgages or liens.

How much to set aside

As a reference, many buyers set aside between 2% and 4% of the price for closing costs, depending on whether they buy with a mortgage or in cash. Always ask for a written breakdown before signing the promise agreement.

Preferential interest

New homes within certain price ranges may qualify for the preferential interest regime, which lowers the monthly payment. Ranges and benefits are set by law and change; ask us whether it applies to the property you like.