Ancillary purchase costs decrease after financing

2021-09-22 19:55:47

Hello everyone,

We have secured financing through a bank for a condominium that we are purchasing from the developer.

The financing was arranged through Interhyp.
The incidental purchase costs for the notary and land registry were estimated at 16,000.
However, the actual costs incurred were "only" 6,000 euros.

If we now use the equity as planned, there will be 10,000 euros of credit left that we do not draw down.

In such a case, do we have to reduce the equity or can we, for example, use the 10,000 for the kitchen?

2021-09-22 20:07:26

Hello everyone,

We have secured financing through a bank for a condominium that we are purchasing via the developer.

The financing was brokered through Interhyp.
The incidental purchase costs for the notary and land registry were estimated at 16,000.
However, the actual costs incurred were "only" 6,000 euros.

If we now use the equity as planned, there will be 10,000 euros of credit left unused that we do not draw on.

In such a case, do we have to reduce the equity or can we, for example, use the 10,000 for the kitchen?

Have you already selected all the finishes? Otherwise, you might be able to install the nicer bathtub or better parquet.

Otherwise, ask the bank. In our case, we can spend up to 20k on whatever we want.

2021-09-22 20:32:38

Are you sure that only 6k will be incurred? The incidental acquisition costs are actually easy to calculate. 6000€ property transfer tax would mean a purchase price of 171,000€ even at a 3.5% tax rate - are there new buildings from the developer for that? Notary and court worked for free? Edit: Oh sorry, you are writing notary and land registry. 16k might actually be too high

2021-09-22 20:37:03

Are you sure that only 6k will be incurred? The ancillary purchase costs are actually easy to calculate. 6000€ real estate transfer tax would be a purchase price of 171,000€ even at a tax rate of 3.5% – are there new builds from the developer for that? Notary and court worked for free?

Real estate transfer tax is not included in the 6000. Only the notary and land registry costs.

2021-09-22 23:48:26

Who made such a miscalculation there?

2021-09-23 05:50:26

Better wait. Otherwise, withdraw and make a special payment or buy a kitchen.

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Ancillary purchase costs decrease after financing

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Tobias2211

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