Who should pay the notary fees when buying or selling a property?

– 27% for deed registration fees on the value of the property (0.54% must be paid, this percentage is divided between the seller and the buyer).

– 1% withholding tax on the value of the apartment for sale in El Poblado or any other area of the country.

– Copies and notary fees.

– VAT (Value added taxes).

What notary fees must the buyer pay?

For this year, the notary fees payable by the buyer are as follows and are governed by Resolution 00387 of January 23, 2023, which updates the rates for notary fees.

– 27% of the property value in deed expenses (0.54% must be paid, this percentage is divided between the seller and the buyer)

– 67% to 2% between charity and registration expenses on the value of the property.

– 27% to 0.30% for deed expenses if there is a mortgage (mortgage loan with the bank).

– Copies and notary fees.

– VAT (Value added taxes).

If you are thinking of buying or selling a property, this information can be very useful in giving you an approximate value of the additional costs you will have to bear. Keep in mind that these percentages vary annually, so it is important to have up-to-date information or seek expert advice. At Inmobiliaria Alberto Álvarez, we accompany you throughout the entire process, from searching for an apartment for sale in Medellín or eastern Antioquia, to constant follow-up to ensure the correct delivery of documentation and thus successfully complete the process. You can count on our support and experience to facilitate your real estate transaction.

Source: Metrocuadrado

Written by: Valeria Ospina – Marketing Analyst.