Costs of selling your home

When selling a house, it’s essential to consider the costs associated with the process. Here’s a breakdown of the expenses you should be aware of:

·         Income Tax: Sellers pay a profit tax, typically 15% of the profit from the sale. The profit is calculated as the sale price minus the purchase price. The tax is based on this difference and must be paid according to local legislation.

·         Local Transfer Tax: This tax applies to the transfer of ownership rights over real estate. It’s imposed on buildings and immovable assets during the ownership transfer. The seller pays this tax before registration, as required by legal regulations.

·         State Cadastre Agency Fees: These fees cover the registration of the property sale transaction in the official real estate registry. The amount depends on the property value and local fee structures.

·         Notary Fees: Notaries handle documentation, sales contracts, and necessary agreements. Their fee is typically around 0.2% of the sale price.

·         Real Estate Agency Fee: For sellers, this fee is generally 3% of the specified sales contract amount, while buyers pay 1%12.

Remember to consult with professionals and understand the specific costs in your area

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