Advisory

TAXES AND FEES IN REAL ESTATE

At a glance...

Rent:

• Owner: (i) real estate agency fee: 50-100% of one month rent, (ii) property tax: 1% or 3% of the market value of property, depending on the residential or commercial specificity of the property, (iii) income tax from rents: for the net monthly rents exceeding the gross minimum wage of 2300 lei, the total rental taxes amount to 6% of the total amount collected (income tax 10 % of 60% of revenues) + 2760 lei / year CASS (health taxes), for net monthly rents below the minimum gross salary of 2300 lei, 6% of the total amount collected (income tax 10% from 60% of income). Those who sign rental contracts have 30 days to submit a single declaration, whether or not they register the contracts with the Financial Administration.
• Tenant: (i) real estate agency fee: 50-100% of one month rent, (ii) (at least) one month rent in advance, (iii) the security deposit equal to (usually) the first month rent.

Sale / Acquisition:

• Owner: (i) real estate agency fee: between 1-5% of the trading price, depending on the value of the property and the type of collaboration chosen: real estate brokerage or exclusive representation, (ii) sales tax is applicable only for properties with prices above 450.000 ron and it is equal to 3% of the amount exceeding 450.000 ron.
• Client: (i) real estate agency fee: between 1-5% of the transaction price, depending on the value of the property and the mode of collaboration chosen: real estate mediation or exclusive representation, (ii) notarial costs: 1.3% - 1.5% from the trading price.

REAL ESTATE MARKET 

Statistics. Evolution. Directions.

For over 10 years we have been representing the Premium real estate market in central and northern Bucharest. We observed the evolution of demand and supply, we understood how the preferences and budgets of our clients changed, we paid attaention to the real estate market in the main European countries and USA and we were constant in promoting The most beautiful properties in Bucharest.

We use our experience gained in over 15 years of activity in real estate and other related fields (financial - banking, legal, management, sales) to look at the real estate market objectively, without making speculations and unfounded judgments.

WHY WORKING WITH A REAL ESTATE BROKER?

Together we successfully protect your property.

• Qualified customers. Adequate properties: an experienced broker will always be the one understanding the needs of his clients.
• Time. Relevant visits: identifying the clients, the properties can take a lot of time; a professional agent has the time to do it properly.
• Adequate marketing: whether you are an owner or a customer interested in renting / purchasing a property, it is important to receive the best and complete promotion for it.
• Consultancy. Negotiation: holding a real estate property means also holding a complete and correct legal documentation and a quality investment. Consulting by agencies with experience in related fields becomes essential.

BASIC DOCUMENTATION REQUIRED FOR A REAL ESTATE TRADE

Safety in trading. The path to a good investment.

Efficient trading means, in our opinion, fluent communication, short promotion time and an adequate price. A first step in carrying out such a transaction is the possession of the minimum documentation necessary for the rent / sale:

Rent:

• Ownership deed or lease agreement over the building attesting the ability to rent / lease (soup case)
• The identity document of the owner / lessor / the person designated together with, if applicable, the document attesting the ability to sign the lease agreement
• Tenant's ID / CUI.

Sale:

• Ownership deed: (as the case may be) sale contract, inheritance certificate, donation contract, final and irrevocable court decision, minutes of tender award, award document, building authorisation, process verbal of reception;
• The Land Registry excerpt (information in the first phase), which is obtained from the Land Book Office within ANCPI and which is valid 10 days from the issue; it certifies the identification data of the building, the right of ownership over it, as well as the possible tasks imposed on the building, as well as its legal situation in general
• Proof of payment of the price, in case the payment was made after the sale contract was signed
• The cadastral documentation and, if applicable, the agreement of the holder of the mortgage right on the building
• Energy certificate attesting the energy performance of the building;
• Documents attesting that the seller does not have debts in relation to the building (certificate of fiscal attestation regarding the payment of property tax, certificate from the Owners Association, proof of payment of utility bills)
• The identity document of the owner / lessor / person designated together with, if applicable, the document attesting the ability to sign the sale contract
• The identity document of the buyer client

Depending on the aspects mentioned in the property documents held the minimum required documentation may be modified.

STEPS TO AN EFFICIENT TRADING

Preparation for transaction, a mandatory step.

Most of the time we spend too little time preparing some of our actions and this proofs later to be time consuming. Here are some steps absolutely necessary for an efficient trading:

Seller / Owner:

• Verification of minimum documentation for sale / rental of property
• Identifying a partner (Agent, Agency) for which your property becomes a priority
• Preparing an efficient marketing that will highlight your property
• Strict qualification of customers: buyers, tenants
• Making relevant views
• Receiving a written offer of purchase
• Structuring the sale and support transaction in the negotiation of conditions
• Sale

Buyer / Tenant:

• Establish the budget allocated to acquisition and identifying the financing sources appropriate to your situation (own sources, own sources and bank credit, payment in instalments)
• Establishing the characteristics of the dream property: location of interest, number of rooms / surface, particular aspects
• Identifying a partner (Agent, Agency) for which your need is a priority
• Exclusive selection of suitable offers
• Making relevant views
• Preparation of a written offer for purchase / lease
• Structure of the transaction and support in negotiating the conditions of the sale / lease contract
• Purchase / lease

TRENDS IN INTERIOR DESIGN

Properties are today oasis in which creativity has no limits.

Whether we speak of a classic or a modern style, oriental, scandinavian or traditional accents, of modern construction methods and materials, or an inclination towards old buildings, a strong chromatic or a neutral palette, beautiful moves us. We will follow the trends in real estate design together and we will try to identify those that will go beyond the time barrier.