The lawyer is one of the most important players in a real estate deal. They protect you in the contract and make sure the apartment you are buying is really clean.
What does the lawyer do?
- Checking the property – registration, liens, notes, building violations. Registering a mortgage
- Negotiating and drafting the contract – payment schedule, handover date, conditions.
- Reporting to the Tax Authority – purchase tax, and also handling the seller's tax aspects.
- Registration – warning note, transfer of rights, registration of the mortgage.
- Coordination with the bank – documents, undertakings and letters of intent.
How much does it cost?
The fee in a second-hand deal is usually around 0.5%–1% of the apartment price + VAT (18%), and some lawyers charge a fixed amount. When buying from a contractor, the contractor often charges the buyers a fee for its own lawyer, in an amount capped by law, and it is worth having a lawyer of your own as well.
How to choose
- Real estate experience – not every lawyer does this day to day.
- Availability – a deal comes with time pressure.
- Transparent pricing – what is included and what is not (fees, registration).
More: all the costs of buying an apartment.