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Charges and fees
Purchasing and selling land is notorious for its administrative fees.
Some basic ones to remember are the registration fee, the land
transfer tax, and notary fees. Any buyer shall pay a registration fee
of 5% on the amount indicated on the sales contract. After each
sale, the governement valuation agent goes on site to assess the
land. If he considers that the amount stated on the contract is below
the estimated the real value of the lot, a fine will be issued. This is
10% of the difference between the contract price and the estimated
price given by the government agent.
Once you’ve prepared for the above, purchasing land should be a
simple procedure.
We wish you the best of luck!
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