With many tribulations and things to think about, finding out that there is an expense or some significant expense that you have not yet taken into account can undermine your budget and cause you to suffer a tremendous loss.Check out the content below and prevent this from happening to you!
- ITBI
The ITBI stands for Tax on the Transfer of Real Estate and is a fee charged when someone transfers a real estate unit to someone else's name.This tax is charged by city halls whenever someone buys a property, and the rate may vary according to each city.
The calculation is usually made by the transaction value, according to the municipal law and, although there is no defined rule, the buyer usually pays this expense after the deal is closed.In general, this tax usually varies between 2% to 4% of the property price.
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- Property registration
The property registration is a document that is issued bythe Registry of Real Estateand has, as main objective, the legal proof of who is, effectively, the owner of thehouse or apartmentin question.Onlyafter that, the transfer of ownership really passes to the new holder, who becomes the legal responsible for him and for the fees and taxes
Its value is variable and comes from the sum of several smaller taxes, which change according to the state in which the property is inserted.Generally, it is between 2% and 3% of the probable value for tax purposes of the unit.
- Public deed
The public deed is the document that proves the agreement or legal act signed between the seller and the buyer, with thevalue of the property and form of payment, in the presence of two witnesses.In financing, for example, the contract with the bank itself is already valid as a deed.
Their values are tabulated and vary according to the Notary Public Notary of each location.This document is required by law for real estate transactions and is essential to legitimize that purchase.
- Spending on change
Many people do not think about this expense, but the amount paid for the move can be quite high, especially if you have a lot of furniture or invest in variousdecorativeobjects.Remember that, to take your appliances and all your belongings to the new property, you depend on a specialized company.
In addition to transportation, there are also costs for disassembling and assembling furniture and packaging.To minimize the cost of buying a property, you and your relatives or friends can help with the process by using cardboard boxes picked up from supermarkets to wrap some items on your own.
These are some tips on the main expenses when changing or purchasing a building that you should know!Did you like to check this text about the costs when buying a property?Then also check out our article withtips for negotiating the purchase of a property!
