What is the bank guarantee/deposit?
The purchaser is required to provide assurance that he can meet his obligations arising from the provisional deed. This is done by giving 10% of the purchase price into custody at the notary. When the sale during the reflection period is terminated or if a condition subsequent arises, the deposit shall be refunded.
What are the legal fees for a transfer?
Curacao notarial fees for the most common instruments, are determined by the Common Court of Justice. There are fixed rates, where deviation up or down is not possible. These rates apply to mortgage deeds, transfers of property and auctions. All notarial rates are subject to 6% sales tax. On every deed and every attachment seals must be affixed and are Nafl. 5.00 per A-4. These stamps are not subject to sales tax.
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Are there other costs in the transfer of real estate?
When real estate is financed with a mortgage loan, there is also a seal of debt owed necessary. This tax is 2 ‰ over the principal amount. This tax, together with taking care of the transfer tax, will be the responsibility of the notary.
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Should all parties be present at the signing of the deed of transfer?
By signing the deed an employee of the notary's office may be authorized to sign for the buyer or seller. This is a great advantage for buyers from outside Curacao. In principle, a non-resident can purchase property in Curacao without ever having been physically present on the island.
What are the costs of the register when purchasing a home?
With a mortgage up to Nafl. 200.000,- the registry fees and stamps will be Nafl. 725,-. When the principal amount of the mortgage is higher, this cost will increase with Nafl. 100,- per Nafl. 100.000,-.
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