What does it cost to buy a condo?

How much it costs to buy the condominium, it can vary. It depends both on whether you borrow which bank you have, whether you take advantage of external advice. We have not taken into account expenses and possibly double the rent during the transition period as well as hedging of any loan.
Besides having to pay the purchase price of your condo, you will be compelled to pay some costs. Costs, such as tax for registration, you will not be able to avoid having to pay, while others cost more depends on your bank and life situation.
As a home buyer, you have to shave down the cost of, for example, to opt out of certain services, get your financing in a cheap internet bank or pay the property in cash. If you choose the absolute minimal solution, you can get away with spending for stamp and impartial advice with the preparation of the deed and completion statement
Since it is difficult to come up with a specific proposal on the true cost, we have made a calculation example illustrating what it might be costing if you have the cost of loans, advice. The following calculation should be seen as indicative.
How much should the state have when buying a home?
The largest single item on the purchase of the condominium is the cost of registration of the change of ownership and stamping of mortgages.

Example: When purchasing a home to 1.5 million dkr., You can typically finance 80 percent with a mortgage, 15 percent with a bank loan and a 5 percent down payment, expenditure is distributed as follows:
Registration of title deed: Of the purchase price, a charge of 0.6 percent plus a flat fee of 1,660 kr. Overall running costs up to 10.660 kr.
Registration fee on security to owners: Only if the safety of the owners’ association is an owner’s mortgage, you must pay the cost to transport safety, cost we be kr. 1.995.- for processing of transport for this mortgage because the amount kr. 1.660.-
Registration fee on mortgages: Because very few home buyers can pay the purchase price in cash, the property mortgaged in a mortgage bank. To get collateral for the loan requires mortgage bank mortgage. Registration of mortgage costing 1.5 percent of the loan amount in tax plus a fixed fee of 1,660 kr. Provides financing to 80 percent of homes with a mortgage, the tax on registration of the mortgage loan amount to:
(80 percent x 1,500,000 kr.) X 1.5 percent + 1.660 kr. = 19,660 kr.
Registration fee on home loans: Most new homeowners also need a home loan in the bank. The bank will typically lend up to 15 percent of the purchase price. In both cases, it costs 1.5 percent fee plus a flat fee of 1,660 kr. Provides financing to 15 percent of the property with a bank loan, the tax on registration of bank loan amount to:
(15 percent x 1,500,000 kr.) X 1.5 percent +1.660 kr. = 5.050 kr.

This means that Stamp in all the duties is  10.660+ kr. + 19.660 + 5.050 kr. = 35,370 kr.

 

What you pay for bank and mortgage?
Both the bank and mortgage charge a number of fees for processing a loan application.
Here you should get a few different quotes from different banks so that you have a good idea of ​​the cost. We have estimated kr. 6.000.-
What does a hedge?
From the purchase agreement is signed until you move into your new home, I can easily take several months. During that period, bond prices both rise and fall, which will affect the monthly payment on a mortgage loan. If you want to know the monthly payment on a mortgage loan in advance, you can buy a currency hedge. Hedging typically costs a fee of 500 kr., But is sometimes included in the bank’s other fee-benefits. In addition to the fee costing the hedging a deduction in the price of the bond loan. The allowance varies depending on the length of the period and the current interest rate. Not included in the calculation as it can vary greatly.
If interest rates remain at the same level, or perhaps even fall, a hedge would be superfluous and money lost.
How much advice?
When you want to bye a property in Denmark you should contact us as legal adviser to guide you through the paperwork and also to help you, if you need permission from the ministry of justice to by the property.

Our skills as legal advisors are founded from being in the law & reel estate business for more then 25 years. We have trough the years help a lot of people. We have people from Lego, Maersk, Novo, Carlsberg, Dong, Bestseller, Siemens, different embassies and other large companies who recommend us when buying property in Denmark.

In addition, you could need building technical assistance.
Building Surveyor: If you do not have not have the necessary insight into the technical building we recommend that you get a craftsman,  undergoing the uncertainties that may be or a structural inspection. The price for a review of the property is very variable; we have not included an expense to do so.
Independent legal advice: We provide independent legal advice to buyers including preparation of the deed and completion statement to kr, 3.995.- Here you have the advice you need through the whole deal and the expeditions required for the transaction.

Estimated costs when you buy a condo to 1,500,000 kr.

Registration fee of deed 10.660 kr.

Registration fee of mortgage (mortgage of 1.2 million. Kr.)) 19,660 kr.

Registration fee home loans (225,000 kr.) 5.060 kr.
Lending fees 3,000 kr.
Brokerage and trading margin 4,000 kr.
Registration Service 2,000 kr.
Establishment of mortgages 6,000 kr.
Booking fee is 500 kr.
Guarantees fee 3500 kr.


Any fee to the owners of ownership kr.
Any transfer of security to the owners kr.