How to calculate notary fees for a new home?
Notary fees: what are transfer taxes?
When a real estate transaction is recorded, the notary must be responsible for collecting what is called "transfer duties". These transfer duties are taxes that the notary collects for the State and the communities, which are liable when a property passes from one owner to another. In these transfer rights, there is a departmental tax, a municipal tax, a national tax and a land registration tax. These sums are due in both types of real estate transaction (new and old) and are payable for professional and residential premises. They are simply lower for new properties!
For example, the land registration tax is 0.715% of the price excluding VAT of the property in new buildings, whereas it amounts to 5.09% and 5.80% of the price excluding VAT in old buildings. The difference is substantial and therefore affects all notary fees.
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