Calculate notary costs correctly when buying a house
How much does a notary cost when buying a house?
If you want to buy a property in Germany, you can't ignore the notary. At the purchase For a property, you must have a purchase contract drawn up and notarized by a notary so that this transaction can be carried out in a legally secure manner. Depending on the conditions regulated in the contract, the fee for the notary is also determined. Notaries have a fixed fee table that can be used to determine the amount of the notary's remuneration. If you know the fee components that apply when buying a house, the better you can estimate the costs for the notary.
This typically includes notarization of the purchase contract Cost for example, the deletion of the mortgage from the seller Land register or the notice of conveyance in the land register. The due date of the purchase price and the date of transfer of ownership must also be documented.
When buying a property, you can generally assume that you will have approx. 1% of the purchase price of the property must be taken into account in costs for the notary. These costs for the notary are usually borne by the buyer of the property.
With this Notary and land registry costs calculator You can estimate the notary and land registry fees in advance when buying a property.
When can the costs for the notary be deducted from taxes?
In principle, the costs for the notary when purchasing a property can only be deducted from tax if the acquisition of the property was intended for the purpose of generating income.
The notary holds a public office. Its tasks are regulated by law. He...
That means if you have purchased a property that you want to rent out or if the If the property is part of a business asset, you can also deduct the notary costs from your taxes drop.
The notary costs are added to the acquisition costs of the property as additional acquisition costs and are added to the depreciation claimed for tax purposes. The depreciation is then calculated over several years, usually at the same monthly amounts, as business expenses when renting or tax deductible as business expenses in business assets.
If you purchased the property for your own residential purposes, you cannot deduct the costs for the notary from your taxes.
Ultimately, it always depends on the individual case how high the costs for the notary are. If you intend to purchase the property to generate income, then you also have the option of deducting the notary costs from your taxes.
In principle, you should always seek advice from a tax advisor, as the amount of depreciation of the property also influences the amount of income-related expenses. who has operating expenses.
