Being good is good business (Anita Roddick)What are the non-recurring closing costs in case of a regular purchase or a newly-built house in Belgium?

Notice: there is a difference between the registration costs in Flanders and those in Walloon. The engine below uses the costs for Flanders. Please use the engines at http://www.notaire.be and http://www.notaris.be for your particular case.

Everything comes to him who hustles while he waits. (Thomas A. Edisson)

1. Registration costs of the mortgage loan

These costs are related to the loan amount and consist of the public notary fee for establishing the act of loan, the costs for searching at the mortgage office, stamp duties, etc.
 You can calculate these costs below   © M. Paul Dons

Loan amount:

    Euro

Have regard for your name, since it will remain for you longer than a great store of gold. (Ecclesiaticus (41:12))

2. Registration costs for the purchase of the house (only applicable to the parcel price in case of a new construction)

Apart from the loan act you will also receive a purchase act. You will not only have to pay the notary his royalties but also the registration costs.

Purchase price :

   Euro
 (Result below)

Result for the purchase and loan costs:

Everything comes to him who hustles while he waits. (Thomas A. Edisson)

1. the registration costs of the mortgage loan:

  EUR details
Have regard for your name, since it will remain for you longer than a great store of gold. (Ecclesiaticus (41:12))

2. the registration costs for the purchase:

   EUR details
details for costs at 5% registration (only for VERY small properties)

Almost all financial institutions will ask you to finance all the above costs yourself. Take as rule of thumb that you, everything taken in account, will need to finance an extra 20% on top of the the purchase price to cover these costs.

To be successful, the first thing to do is to fall in love with your work. (Sister Mary Lauretta)

3.Letter of credit cost

If you obtain the loan and a letter of credit is emitted, the letter of credit cost will normally be a certain percentage of the loan amount, going from 0,30% to 2%, sometimes limited to a maximum and mostly limited to a minimum of about 250 Euro.
These costs are not payable if you would not obtain the loan.
DefA Finance never charges you any kind of negociation costs.
In brief: no letter of credit, no costs!

To be successful, the first thing to do is to fall in love with your work. (Sister Mary Lauretta)

4.Costs of related insurances (life and house insurance)

We have a detailed section dedicated to this subject.
Be aware that regarding life insurance differences in premium can be huge and that we are cerified by Belgium's premier consumer organisation for optimizing your specific coverage !


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Below you can find all the detailed information concerning the components that make up the total cost.


Purchase act

Large registration fees

Small registration fees
 

10% registration fee

5% registration fee

Registration fees (Euro):
Honorary fee of the notary (Euro):
Other purchase act costs (Euro) :
Estimated purchase act costs:
 

Loan act

 Credit opening. Social loan.
Registration rights (1,30%):
Honorary fee of the notary (Euro):
Honarary fee Mortgage institution (Euro):
Other loan act costs (Euro):
Estimated purchase act costs:

Some remarks.

* The spreadsheet above is inspired on an edition of April the first 1998 of "Barema's van de Provisies", composed by notary Jean-Luc Snyers.

This spreadsheet is meant to allow you to define your maximum purchase price in a fast and easy manner, considering your own budget.

© Paul Dons - The spreadsheets can be used for free. Rental, sale, or any other distribution of these spreadsheets are NOT allowed without permission of the author.
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