You already know that investing in a house entails a series of additional expenses for which you have to have an extra budget line prepared. Probably, the formalization of the deeds of sale of the property is the procedure that makes you the owner and that requires the least outlay. Calculate that if the expenses linked to the purchase are equivalent to 10% of the value of the house, the costs of signing the deed of sale of a house will be approximately 2%.
After closing the purchase transaction with the developer or with the owner of the property - if you have opted for the second-hand market - you must go to the notary's office where you will have to sign a public document authorized by the notary - as a public notary - in which you will be recognized as the owner of the property. Normally, the deed of sale of a property is formalized in parallel with the deed of the mortgage loan. This document reflects the rights and obligations of the financial institution and the client.
Notary services when signing a property deed
Normally, it is the financial institution itself that proposes a notary to carry out the procedures, but you should know that you can request the services of the notary that you consider appropriate. The notary's fees, however, are set by law, so they will be practically identical in any office. At most, they can apply a 10% discount. On the one hand, they will charge you the fee for the deed of the house and, on the other, for the mortgage loan, which is usually more expensive.
The notary will set his fee based on the value of the property. As a reference, for a house worth around 200,000 euros he usually charges around 750 euros. If the value of the property were to rise to 300,000 euros, the fee would be approximately 830 euros.
These examples refer to free market housing, but when it comes to protected housing, the tariffs are significantly reduced.
Don't forget that the notary is there to help you. As a public notary, he is there to clarify any doubts you may have regarding the documents you are going to sign. Therefore, when you are called to read and, subsequently, sign the deeds, you can interrupt as many times as you consider appropriate. You should not be intimidated by the official nature of the act. Remember that you are the one who pays the notary for the provision of a service.
You should also not forget that the value written down is generally lower than the real value in order to pay less taxes.
After the deeds have been signed at the notary's office, the documentation must be submitted to the Property Registry, where the sale is registered.
As with notaries, the fees charged by registrars are regulated by law and depend on the value of the property. For the same examples, a property worth 200,000 euros would pay 510 euros to register it, while for a property valued at 300,000 euros the cost would be around 590 euros.