How much are the notary fees for purchasing a home?

When you decide to buy a home Whether for living or as an investment, one of the most important aspects is the acquisition costs. Beyond the price of the home, you will also have to pay notary fees, which vary depending on the property's value and how you make the purchase: own funds, the "New Home" credit, or a mortgage loan.

What are the notary fees?

Notarial fees are comprised of:

• the registration fee, which is 0.15% of the home's sale price
• Notary fee (notary's stipend), specifically a fixed sum + a percentage, reported relative to the property's value

The updated calculation formulas for notary fees in 2024 are as follows:

• For a home valued between 200,001 lei and 600,000 lei: 2,805 lei + 0.9% on the amount exceeding 200,001 lei.
• For a home valued at more than 600,001 lei (approximately 120,000 euros): 6,405 lei + 0.6% on the amount exceeding 600,001 lei.

When calculating your notary fees, keep in mind that this notary grid represents the guaranteed minimum rate, meaning that fees vary from one notary office to another and can be considerably higher.

Another factor influencing notary fees is the method of purchase. For purchases made with your own funds, notary fees are calculated based on the total transaction value. In contrast, for purchases involving a mortgage, in addition to standard fees, there's also a fee for authenticating the mortgage contract. This is because the mortgage must be registered in the land registry, which incurs additional fees.

Calculation example

Let's take a new apartment with a value of 120,000 euros + VAT. The value with VAT included is 130,800 euros (120,000 * 1.09). The value in lei is 651,384.

In case of purchase through own sources, you will pay notary fees of approximately 8,000 lei (average price charged), to which a registration fee of 977 lei is added.

For the purchase using the New House credit, you will pay approximately 5,600 lei notary fees.

If you are buying with a mortgage, the notary fee for purchase with own funds applies (8,000 lei), plus a mortgage fee and a mortgage registration fee, totaling approximately 330 lei. So, including the housing registration fee (977 lei), you will pay a total of approximately 9,300 lei.

If you are accessing a mortgage or the "Noua Casă" program, you will pay the notary fee in 2 installments: upon signing the preliminary sales agreement and upon signing the final sale and purchase agreement, when you take possession of the property's keys. This also applies to payment with your own funds if the home you are purchasing is not yet completed or if you choose to sign a preliminary contract.

As mentioned above, the value of notarial fees increases directly proportionally to the value of the home. For an apartment of 199,000 euros including VAT, for example, the fees amount to around 10,000 – 11,000 lei (approximately 2,000 euros). Therefore, notary fees are not insignificant costs and we recommend you take them into account.

To simplify your purchasing process, but not your wallet/bank account, IMPACT Developer & Contractor is running the campaign ”Zero Notary Fee”for GREENFIELD Băneasa. Until August 31st, by purchasing any apartment in the complex, you are exempt from paying notary fees (notary fees). Thus, you save a significant amount of money and get rid of an extra worry.