Fees are somewhat negotiable as far as who pays them, although they follow certain guidelines. Notary services range between 1% and 1.25% of the value of the property. The minimum fees are set by law through the local Bar Association, so while you might get quoted a fee lower than 1%, the lawyer/notary would be breaking the law. That fee does not include other legal services you might request of your lawyer – for example, the due diligence process, contract revision, translations, etc.

Stamps and taxes for registering your property will run between 0.75% and 0.8% of the value of the property. Finally, the property transfer tax will cost 1.5% of the value of the transaction. If you’re purchasing the shares of a corporation rather than the property itself, this tax will not apply. Otherwise, expect fees and taxes to add about 3.3% in transaction costs, meaning a $1 million transaction will cost about $34,000 in fees and taxes. To recap:

• Stamps: 0.75% - 0.8%
• Transfer Tax: 1.5%
• Notary fees: 1% - 1.25%
• Total fees and expenses: 3.25% - 3.55%

Often fees and taxes are split down the middle between buyer and seller, but that depends on the size and variety of transaction. Who pays the fees can be a bargaining chip during the negotiation process.