Selling my property: how much will it cost me?

When selling your property, you will have to cover several costs. These costs are usually lower than those incurred by the buyer, but they are nevertheless significant and should be taken into account in your calculations when determining the right selling price. 

VALUATION

The first step before selling your property is to have it valued. There are several options available, and the cost will depend on your choice.

If you use an expert, it will cost you between €100 and €250, but you can be certain that the valuation is neutral and objective, and independent of any commercial interest.

If you decide to have your property valued by an estate agency, this service is generally free of charge. The advantage is that you can approach several agencies to obtain different opinions and, potentially, meet several agents if you decide to sell through an agency.

ADMINISTRATION

To put your property up for sale, you must have the necessary documents. Indeed, the seller is legally required to provide the buyer with all mandatory information.

Starting with the EPC certificate, for which you must arrange for an accredited assessor to visit. You should budget between €200 and €500 for this, depending on the size of your property.

You will also need an electrical installation inspection certificate. This costs approximately €130 and is valid for 25 years.

You will also need to gather the information for the Post-Intervention File: this is essentially an “instruction manual for the property”. This file contains all information that may be required: electrical installation plans, wiring diagrams, technical data sheets for the products used, building execution plans,…  It is important for understanding the potential for future alterations and for safety purposes. You can compile this file yourself or use external service providers if necessary.

Where necessary, for example when dividing the property into several units, the seller must cover the costs of the subdivision deed, the deed of co-ownership and, in connection with the latter, plans, boundary surveys and measurements;

The cadastral documents; these are free of charge.

The discharge of the mortgage; The deed of release is a notarial deed  that terminates the mortgage on the property. This entails certain costs, which depend on the amount of the mortgage: a registration duty, mortgage discharge fees payable to the mortgage registry and the notary’s fees.

ESTATE AGENT

If you use an estate agent to sell your property, you will of course have to pay them if they successfully complete their assignment. Agency fees are not fixed; generally, they amount to approximately 3% of the selling price excluding VAT. This percentage may be negotiable, for example in the case of an exclusive agreement.

If you do not use an agency, you will also have various costs to cover: advertising costs, professional photography fees, if applicable, …

COMPLIANCE /  PLANNING BREACHES 

Are you required to regularise planning breaches before putting the property up for sale?

This is not a requirement; case law shows that a sale involving a planning breach is not rendered void as a result… Unless the breach cannot be regularised by the buyer! The sale of a building in separate units when planning permission has not yet been granted may also be void.

However, the presence of planning breaches may affect the selling price, as the buyer may use them as leverage in negotiations. To avoid problems, it is always best to regularise them, as they could otherwise prevent a sale from proceeding!

Good to know: The estate agent is required to inform the buyer of the property's planning status.

Please also note that the planning infringement will transfer to the buyer and is not extinguished by the sale.

CAPITAL GAIN

If the property is resold within five years of purchase, you will also be liable for tax of 16.5% on the capital gain. The capital gain is calculated by subtracting the actual acquisition cost: including notary fees and any building work (only if the work was carried out by approved contractors) from the resale price actually received by the seller, therefore less estate agency fees and other professional fees.