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Tax breakdown in case of purchasing property in Brussels.

Question

Hi, I am planning to buy apartment in Brussels in 2017. Can anyone break down the taxes and additional fees that need to be paid on top of the selling price of the property? Could you please explain the breakdown based on for example the price of 200.000 EUR? I think it will be useful for many people as the rules has changed since the beginning of 2017.
Many thanks.

Answer
kasseistamper Jan 25, 2017 10:06

You have to employ a notaris/notaire and their fees are set by law.
They will be able to explain in detail exactly what you will have to pay on top of the buying price and they will not charge any extra for doing so in advance of your purchase.
Decide which one you are going to use and ask them.

Answer
tonic_ Jan 25, 2017 10:17

Hi, thanks for the feedback. Before going to notaire, is there a chance to get small explanation (rough estimate) on the price breakdown? It would be very helpful. Thank you.

Answer
anon Jan 25, 2017 10:49

There are a load of calculators on the web that will show this for you.

Here's one : http://www.odph.be/simulation-calcul-frais-de-notaire.html

However, as Kasseistamper notes above, you should speak to your notaire, as there can be other costs depending on the situation of the seller, the buyer, or the type of property (i.e. you may be a first time buyer, or the seller may be a company and not a "person", the type pf mortgage loan you take) etc. etc.

Answer
tonic_ Jan 25, 2017 11:24

I am planning to buy as a first time buyer as a legal person (individual), not as a company. Seller is not a company either. What type of mortgage loans are existing? What is the difference / impact on the tax / fees that you pay?

Answer
Rupert Jan 25, 2017 11:49

As a first time buyer you will get an exemption on the 12.5% registration fees for up to 175000 EUR. So you will pay 12.5% of 25000 registration fees (3125).

On top of that you will have fees for the notaire (allow maybe 4000) & fees you pay to the notaire related to the opening of and registering it (about 5000). Count about another 1000 for the bank (mortgage application fee and expert survey).

The notaire gave me an estimate at the very beginning of the process which was correct to within a couple of hundred euros to what i paid at the end.

Banks will loan you up to 100% of the purchase price (but this is getting rarer). It is very difficult for them to loan you any more than this (either for the fees and taxes or for any renovations you might want to do)

Answer
becasse Jan 25, 2017 14:19

You need to build a relationship with a notaire NOW because you will need one from the very start of the purchase process, i.e. before you make any offer on a property. The notaire will give you advice for free, his/her charges are fixed by law and relate to the preparation and submission of documents, etc. As well as giving you advice on the property purchase, you should also ask the notaire about the legacy situation because both succession and inheritance tax law is very different in Belgium, even if the situation has become modified recently for those who are citizens of another EU country.

The most important thing to remember is that once you put in an offer on a property and the seller accepts your offer both of you are bound to go through with the transaction (or pay a 10% penalty) - a very different scenario to that which applies, for instance, in the UK.

Answer
Borealis Jan 25, 2017 22:55

I love how a guy asks one question and everyone (except Rupert) talks about completely something else, ie pestering with how important notaite is :) Duh...

Answer
becasse Jan 26, 2017 10:10

The point is, Borealis, that had the OP gone to a notaire/notaris and asked the question he would have been taken through all the potential costs as they relate to his/her individual circumstances. Nothing would have been forgotten or overlooked* because that is the professional's job and expertise - and it would not have cost the OP anything.

* For example, nobody, even Rupert, has mentioned that for a new (or, perhaps more important newish) property the costs will be higher because 21% TVA applies.

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