Quote:
Originally Posted by benho
To purchase a completed properties, the estate agent is looking 2% transfer fees from the owner to purchaser. Is that right?
I thought the transfer fees only apply to properties that are not yet completed, and the fees are payable to the developer...
Can someone clarifiy?
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Hi,
Transfer fees are applicable on all purchases irrespective of their completion status. The difference most of the times is in the amount of transfer fee. If a property is under construction 90% of the times transfer fee is based on the original price. For ready properties transfer fee is based on the selling price. Apart from this a 1.5% registration fee may also be applicable on ready properties.
The % of fees varies from project to project even though it is supposed to be standardized.
Hope this helps!
Cheers
Tanya