Incidental acquisition costs
In addition to the acquisition costs, your invoice also includes some ancillary costs associated with the purchase of the property. More precisely, the direct and indirect acquisition costs.
Direct acquisition costs include:
Real estate transfer tax
Transfer of ownership in the land register
The good thing about these costs: They're tax-deductible.
Indirect acquisition costs include all costs related to financing, for example:
Processing or closing fees
The creation of the liens on real property by the notary public
The registration of the mortgages by the land registry office
Would you like a few more insights? No problem. Tune into our podcast episode on incidental acquisition costs.