Having the dream apartment involves a little more than finding an affordable price. In addition to the purchase price, some other expenses are included to end the negotiation. This is the case of the amounts involved in the deed and registration of the property, which take place in different notary offices - the public deed is given at the Notary Public Office and the registration / registration at the Office of Property Registry of the city where the apartment is located -, in addition to some taxes, such as ITBI (Property Transfer Tax), the percentage of which varies between cities. Certificates also need to be updated and, therefore, the expense of issuing these documents must also be accounted for. It is important to remember that the amounts charged by notaries have a fixed price, varying from one state to another.
That is, when buying an apartment, you need to prepare to spend much more than the value of the property. See what are the expenses of this process!
Financing the purchase of the apartment
The documentation involved to finance the purchase of a property goes beyond that required by the bank. Negative debt certificates need to be presented both to finance and to register the property. Although the financing contract has the same effect as the deed, banks usually include a surcharge to formalize the deal. The amounts for registration of financed purchase are slightly reduced, considering that the fees are only from the Real Estate Registry Office.
The choice of the financial institution to carry out the financing also needs to be careful, adapting the interest and requirements to your needs - and possibilities of your pocket, of course. In order to make a real estimate of the expenses, it is interesting to simulate the financing beforehand and to have a general basis of the financing costs and to be able to schedule, including, consulting the notary offices to get an idea of how much you will spend on the documentation. Some construction companies offer both financing and simulation , making it easier for those looking for their apartment.
Amounts paid for brokerage and even for the real estate broker can make the transaction more expensive, but, in some cases, they are indispensable for everything to go according to plan, guaranteeing you ownership of the property without major headaches.
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In fact, buying an apartment requires a little more care than buying a house, for example. This is because it is necessary to check if the condominium is up to date, if the IPTU is within the forecast and if it is necessary (and possible) to redecorate.
In summary, it is difficult to estimate the exact amount of expenses for the purchase of the apartment, but, in general, be prepared to spend up to 8% of the transaction amount with the notaries and other documents. In addition, registering the purchase is essential to have all your rights guaranteed, since only the registration in registration guarantees the property, preventing the property from being sold to another person without the consent of the new owner.
It may seem like mere bureaucracy, but these values compensate for the tranquility of having a regularized property, and what is better: yours!