When purchasing an old property ( excluding new builds and buildings to be built) here are the tax rules : Registration fees and taxes…
Obtain information about the property
Before proceeding with the’purchase of real estate, it is important to find out about it. You can contact the property tax center to obtain a property tax estimate. The land registry service will be able to provide you with the cadastral references of the building and information on the dividing boundaries of the land. If the plot is poorly demarcated, it is recommended to call on an expert surveyor. The land registration service will inform you if the building is subject to easements or mortgages.. Your request for information must be sent in duplicate, to the SPF of the location of the building.
Estimate transfer rights
The acquisition of old real estate involves the payment of transfer taxes for a fee., in addition to the notary's fees. These transfer rights for consideration include a departmental duty varying between 1,20 % et 4,50 % of the purchase price, an additional tax of 1,20 % of the purchase price, assessment and recovery costs 2,37 % of the amount of departmental duty and a real estate security contribution of 0,10 % of the purchase price. The maximum overall tax rate is 5,81 % of the purchase price. The tax rules are the same for the purchase of old real estate from an individual or a professional.
Complete the acquisition formalities
The intervention of a notary is necessary when purchasing an old property. The notary will be responsible for completing the formalities with the land registration service, which will allow the modification of property tax files without any action on your part. If you are carrying out renovation work on your property, find out about tax credits for work to be carried out in a primary or secondary residence.