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Additional costs
Underneath you will find a summary of the additional costs buying property and concluding a mortgage.
Additional costs buying real estate:
1. grundsteuer (government property transfer tax) (3,5%)
2. register in the land registry, right of ownership (1,1% - changed per 01-01-2011)
3. costs for drawing the contract and registering into the land registry (lawyer or notary) (±2% ex. VAT)
4. costs for legal charges and authentication by the notary
5. commission for the real estate agent (3% ex. VAT)
Additional costs concluding a mortgage:
1. kreditsteuer - mortgage tax (0% - changed per 01-01-2011)
2. registration in the land registry (1,2%)
3. registration of the order of creditors (0,6%)
4. costs for legal charges and authentication by a notary
5. costs of possible valuation
6. commission for the bank (2%), mostly financed
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