Are you planning to buy real estate in Curaçao, such as a house, apartment, villa, or a plot of land? Then it is important to know which additional costs you should take into account. You will often come across the term “buyer’s costs” (in Dutch: kosten koper). This means that the transfer tax, notary fees, and Land Registry fees are for the account of the buyer. In this article, we assume standard transactions between buyers and sellers.
Calculation of Buyer’s Costs or Deed of Transfer Costs
You can calculate the approximate buyer’s costs or the costs for the deed of transfer in Curaçao using the calculator below. Enter the purchase price and click “Calculate”. These notary fees are determined by the Joint Court of Justice (Gemeenschappelijk Hof van Justitie) and cannot be deviated from.
- Transfer tax: Cg. –
- Land Registry registration costs: Cg. –
- Notarial fees: Cg. –
- Notary office costs: Cg. –
- Sales tax on office costs: Cg. –
- Total: Cg. –
Calculation of Mortgage Deed Costs
In most cases, a buyer also requires a mortgage loan. If a mortgage deed has to be drawn up, you as the buyer will incur additional costs. These costs depend on the amount of the mortgage. In the calculator below, you can enter the mortgage amount to see what these costs will be. Please note: this calculation applies only to the mortgage deed itself and does not include, for example, arrangement fees or other costs charged by the bank or mortgage intermediary.
- Mortgage stamp duty: Cg. –
- Stamp duty and Lad Registry costs: Cg. –
- Notarial fees: Cg. –
- Notary office costs: Cg. –
- Sales tax on office costs: Cg. –
- Total: Cg. –
Other Additional Costs
In addition to buyer’s costs and any mortgage deed costs, there may be other expenses. For example, you may need to pay a mortgage arrangement fee or have a property valuation carried out. The notary may also request an extract from the civil registry. Do you choose to work with a buyer’s agent? Then you will also need to pay their fee. If you do not wish to be present at the notarial transfer, you can have a notarial power of attorney drawn up at additional cost.
Some notaries charge extra fees for compliance procedures or for transactions in foreign currencies. There are also real estate agencies that pass on the costs of an external compliance officer to the buyer. At Livinggoed, we do not do this.
On the notary’s settlement statement, you will also see an amount for the settlement of the property tax (OZB) for the current year between you and the seller. If the property is held under a leasehold right, this also applies to the leasehold canon.
Please note: If you purchase a property and have the notary draft the purchase agreement instead of the real estate agent, you will pay 20% of the notarial fee for the purchase agreement, with a minimum of XCG. 250 and a maximum of XCG. 2,500.
Frequently Asked Questions (FAQ)
Are the buyer’s costs always calculated on the purchase price?
No, but this article assumes a situation in which the purchase price is fully expressed in cash and reflects the actual value of the property. If the agreed value is assessed too low, the Tax Inspector may make an official reassessment.
Are the costs calculated based on the purchase price or the assessed value (tax value)?
In principle, these costs are calculated based on the purchase price, provided that it is realistic. In the past, if the purchase price was lower than the assessed value, the assessed value had to be used. There are still notaries who use the assessed value if it is higher than the purchase price.
Does the buyer pay all notary fees?
No, the buyer does not pay all notary fees. For example, if the seller currently or previously had a mortgage on the property you are buying, the seller must pay for the removal of that mortgage right through a deed of cancellation. The buyer also does not pay for any notarial power of attorney granted by the seller.
Disclaimer: In dit artikel staat beknopte informatie over de bijkomende kosten bij de aankoop van onroerend goed op Curaçao. Dit artikel gaat uit van reguliere aankooptransacties, dus niet bijvoorbeeld de aankoop van een woning via een veiling of bij ruiling. Ook houden we geen rekening met bijzondere situaties zoals een erfenis, een schenking, het vestigen van erfdienstbaarheden of het vestigen van een recht van vruchtgebruik. We kunnen niet garanderen dat deze informatie correct, foutloos, volledig en actueel is. Daarom kan je aan dit artikel geen rechten ontlenen. Hebben we een foutje gemaakt, of is er iets veranderd? Stuur dan een e-mail naar robin@livinggoed.com. We zijn je dankbaar!
