If you want to sell your condominium legally, you can’t avoid an appointment with a notary. But what notary fees do you have to expect if you want to sell your condominium and who has to pay them?
The sale of an apartment is associated with various additional costs. It is not always clear in advance which costs must be covered by the buyer and which by the seller.
What costs are incurred when selling an apartment?
If the sale of an apartment is handled by a professional estate agent, then their services must be paid for. Since the estate agent reform in 2020, the costs for the estate agent are borne equally by the seller and buyer. Individual agreements are possible.
Other additional costs include land transfer tax, court costs for entry in the land register and notary fees. These additional costs are normally paid by the buyer of the property.
If you have owned the apartment for less than ten years and the property has not been used privately in the past three years but has been rented out, speculation tax may be payable. It is advisable to deal with this issue before selling the condominium.
Who pays the notary fees when selling a condominium?
The seller usually has an advantage when selling their condominium. The notary fees are usually paid by the buyer. However, the buyer also has the right to choose a notary they trust. However, this has no influence on the real estate transaction, as the notary must adhere to strict guidelines and has little room for maneuver. Every notary must carry out their duties lawfully and conscientiously.
How high are the notary fees if you want to sell your condominium?
When calculating his fees, the notary adheres to the scale of fees from the German Court and Notary Fees Act (GNotKG). It stipulates which prices can be charged for which transactions with the notary. The amount of the total costs depends, among other things, on the selling price of the property. Another factor is how the individual transactions are handled. If the notary is called upon several times during the real estate transaction, the bill will ultimately be higher.
If you want to sell your condominium, the notary fees are as follows:
- Notarization of the purchase contract by the notary: approx. 1.5 percent of the property price
- Entry in the land register: 0.5 percent of the purchase price of the condominium
These two items are paid by the buyer.
If a loan with a land charge was taken out for the condominium, the rights of third parties must be deleted when the condominium is sold. The costs for the deletion amount to 0.2 percent of the registered land charge according to GNotKG. This item must be paid by the seller if the deletion has not already been applied for in advance.
You can also find more information on this topic in our further article “The notary appointment when buying a home at a glance: Function, procedure, duration, costs & documents”.
