Why is the notary part so expensive ?

Accomodation, House and Garden
21
Easy Peasy - just ask the notaire to give you a break down of fees (he might charge you for this though )...

22
OK so I have had a look now and we got a breakdown as follows

'Emoluments selon tariff official'('act de vente', something about transferring the mortgage and some other stuff) which I guess the notaire can't change and are the official cantonal things. (3000)

Fees for examining the dossier, correspondence with the banks, the 'register foncier' and the 'cadastre'), phone calls, faxes, photocopies etc (500)

'Enregistrement au register foncier' (2500)

Total 6000

I guess the first and the third are fixed by the canton and it's only number 2 which the notaire can charge directly.

This was also canton Neuchatel and we only got the detailed breakdown of charges in April although we had to pay 5000 up front in September before we actually signed anything.

The tax bill comes about a month after signing

23
Ah thats cool so if everything is correct I just need to wait a bit longer and I might get a bigger bill with more details

For now I should just consider it a "pre-payment" for "yet-to-be-identified-services".

...and yeah, I'm afraid calling to ask for details since I have a colleague who just asked for clarification and got billed 250+ CHF for a 5 minute phone call (different notary though

Anyways, everybody many thanks - it have been very informative!

24
Glad I could at least give you an idea of what you were paying for!

25
Just took a look for our purchase in Canton Zurich in 2008. The Norielle Gebühr (Notory fee) was 1% of the land value. The house was free!

In addition there was a fee of 2.5 per mille for the Grundbuchamtkiche Gebühr (land registry fee).

There were additional, but not great charges for a Schuldbrief (basically a letter of intent of debt so that the bank gets their loan out in case of problems).

In fact the charges were well below the costs of a similar prices property in the UK...

26
anyone know where i can get similar costs for Basel Stadt? anyone here bought/sold in BS and can give some indications of total costs?

27
Geez EF. I asked almost a year ago? What kind of service do you call this? Where do I complain? I want my money back!

28
I tried to buy a house years ago, the tax & fees were horrendous!

Canton Fribourg, 2 % tax on purchase price

Town of Murten, 2 % tax on purchase price

Notary and transfer fees, 1 % of purchase price.

29
Thats cheap, in Malta stamp duty is 5% with a 3.5% concessionary rate for the first 150k. The Notary cost & registration fees are a further 2%

30
digging an old thread... but just curious...

can the notary fees for the 'acte de vente' & mortgage note (cédule hypothécaire') be included in the bank mortgage...

the notary fee calculator for a figure of CHF 800000 shows the following amounts...

'acte de vente' : CHF 32000

'cédule hypothécaire' : CHF 14000

surely would help if 80% of these charges are included in one's bank mortgage...

31
This fee&tax is based on actual value - therefore when buying an apt to be built this tax is a fraction as only rights to one n-th of the plot are transferred.

32

Why? They are not actually part of the property you’re buying which is what the mortgage is for. They are extra costs which you should calculate for when planning to buy. I did.

33
Why do you ask why? In many countries (USA, UK, Australia ...), home loans of up to 105% of the purchase price are available for just this reason, to pay for fees and charges. In addition, many banks will add their own fees to the loan.

Switzerland is not the US, UK or Australia, but it's a perfectly reasonable question.

34

Well, they may have been, but I don’t think you’ll find you can in the UK at least these days. After all, it was the collapse of Freddie and Fanny that brought on the last financial crisis.

Also, given that you never pay off your mortgage here why would you want to make it even expensive year on year by adding fees to it? Much better imho to make the one off payment at the start and get rid of them.

35

And people wonder why house prices rise out of control ! The speculator 'buyer' has zero skin in the game, it will end in tears

36
They gave mortgages for up to 125% of the purchase price in Belgium for this very reason.

It's not an unreasonable question to ask especially for somebody who comes from a place where this is entirely normal.

37
so, as I understand, the banks here do not consider the notary fees, the buyer should manage these on his/her own...

will nevertheless give it a try, IF I have something to buy within my budget...

38
Freddie Mac and Fannie Mae are American, nothing to do with the UK.

2 minutes on Google throws up quite a few 100-125% LTV mortgages in the UK, even in these troubled times: http://www.money.co.uk/mortgages/100-mortgages.htm

I think it's wrong to assume that borrowers of 100+% loans are speculators. Many such borrowers simply want to own their own home.

They have plenty of "skin in the game". They are fully liable for repayment of their loans; except perhaps in the USA, mortgagors cannot simply walk away from their investments and abandon their responsibility to repay loans.

39
Hello all

Does anyone have any idea of the notary fees + stamp duty for Basel land ?

Thank you.

40
The fees increase your cost but not the estate value, so they have no influence on the maximum amount of the mortgage rate.

@peanut2

Find a list of notaries here . I'm not sure if it's per 2012, or if the list is kept up to date. Current tariffs are listed here (seems german only, despite the language code). Rates appear to not be limited but not completely predetremined so it probably pays to get more than one offer. The website of the notaries assoction of BL is here .