In:
Is the brokerage fee included with the purchasing costs payable by buyer?
15 January 2019No, the broker fee is not included. ‘Purchasing costs payable by buyer’ include:
a) Transfer tax.
b) Notary fees, among other things for drawing up the deed of delivery and registering it in the Land Registry.
In addition to the costs mentioned above, there may be notary fees for the preparation and registration of the mortgage deed. If the buyer has engaged a buying agent, the brokerage fee for this purchasing agent will be for the account of the buyer. These are generally settled through the final bill drawn up by the notary. The costs of the selling broker are at the expense of the seller.