Buyer costs on Bonaire

Buyer costs on Bonaire

Buyer costs on Bonaire

If you want to buy a home, the search is usually based on asking price. You almost always see “k.k.” behind the price. This is Dutch for Buyers costs. This means that the extra costs that a purchase entails are for the account of the buyer. The word says it all. But how high are these costs on Bonaire and what do they consist of?

Since the sale of a home always goes through the notary, the actual costs usually only become visible once the notary sends the settlement. For existing homes, these costs consist of:

• On Bonaire this is 5% of the purchase price. No transfer tax has to be paid on the value of the movable property.
• Notarial costs. These notary fees consist of the deed of transfer fee, increased by 8.50% office costs and 6% ABB on this whole.

The costs of the Deed of Delivery have been determined and apply to all civil-law notaries on Bonaire, specified as follows:

•  The costs for the land register consist of registration in the register.
  This cost is $445.00 for the first $75,000 and $5 for every $1,000 more.
• Mortgage costs. If a mortgage has to be established on a property, a mortgage deed is required.
  There are additional costs for this.
  Additional costs are charged for the registration of a mortgage for both the notary and the land registry.

No 5% transfer tax is levied for new homes, but 8% ABB.

The average hight of the buyers costs are:
NO MORTGAGE        between 6.25 and 7%
WITH MORTGAGE   between 7.25 and 8%

This information has been compiled as carefully as possible, but no rights can be derived from it.

Source: Notary fees decision – Joint Court of Justice