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Fee Schedule

Sale Purchase Transaction

Representation of the Seller when they are a Legal Entity (Foundation, Corporation, LLC)

Dear Client:

We are pleased to provide a detailed explanation of our services and fees, outlined below.

Legal Work

Fee in USD

Comments

Legal Consulting

200

Per hour or fraction. The fee is deducted from the fee for drafting the promise to buy and sell agreement if you hire our office.

Drafting the Promise to Buy and Sell Agreement.

550

The standard process is to celebrate a promise to buy and sell agreement; to give the seller the chance to pay taxes and gather the required documents.

Our fee includes drafting the agreement and follow up on the negotiation of the agreement with the buyer.

Calculation of Transfer and Capital Gain Taxes, payment, and revision at the Directorate of Revenue (DGI)

300

Transfer tax is 2% of the higher value between the sale price and the cadastral value.

Capital Gain tax is paid based on the higher value between the sale price and the cadastral value It could be a 3% or 10%, depending on the case.

Obtaining certificate of good standing from the water and garbage disposal company

35

The water good standing has a USD 1 fee and the garbage disposal good standing has a USD 1 fee.

Obtaining certificate of good standing from the condo HOA

35

Obtaining a property tax good standing

35

Obtaining a corporate franchise tax good standing

35

Preparation and notarization of deeds

250

The fee includes the preparation of the final contract. The fee does not include the cost of the deed. The Cost of the deed will depend on the number of pages. Usually between USD 80 to USD 250, and usually, the buyer covers the deed costs.

Registration of Deed in the Public Registry

150

It does not include the registration fee that will depend on the sale price or the cadastral value, whatever higher, and whether the seller and buyer are corporations. Usually, the buyer covers the registration fee.

Drafting a corporate/foundation/LLC minute

250

If the seller is a legal entity, a minute authorizing the sale is required.

Draft a minute delivering the property

250

The fee does not included transfer to the property to deliver the property

Total

1840

Fee may vary depending on the case.

Additional Services

Obtaining a certificate of Property from the Public Register

35

The fee does not include the cost of the certificate, which is USD 30.00

Update the property at ANATI

75

The fee does not include the USD 5.00 government fee. The fee is for one trip to ANATI, and it´s does not included repeatedly trip due to government clerk mistakes in the updating process.

Obtaining a NIT for the property and assignment of a new email

150

This in case the seller has not processed the property taxpayer id before. Notary fee of USD 10.00 must be added.

Obtaining a NIT for the legal entity

150

This in case the seller has not processed the corporate taxpayer ID. USD 10.00 Notary fee must be added.

Payment of Property Taxes

35

The fee does not include the balance due.

Payment of franchise tax

35

The fee does not include the balance due.

Notarization of documents

35

Attending meeting or contract signing

150

Per appointment.

Total

665

Fee may vary depending on the case.

The client must provide:

  • The corporate NIT number
  • The property NIT number
  • Proof that is the legal entity shareholder or the final beneficiary.

Notes:

    • Translation fees are not included.
    • Courier fees are not included.
    • The fee may vary depending on the case.
    • The legal fee and expenses are approximate
    • Any additional service not contemplated will be charged separately.
    • If a real estate reservation agreement is required, the fee is USD 350 for the drafting or revising of the contract.
    • We will notify you immediately if we require additional expense money.
    • W Before any sale, you should verify that your property records have been updated in the Land Registry (ANATI). Updating cadastral information is necessary to:
      • Calculate the transfer and capital gain taxes.
      • Calculated the property taxes. Sometimes, after a property is updated, unpaid taxes, which the owner is unaware of, are shown in the system. Also, any tax exemption should be duly recorded.
      • The non-updates will slow down the process.

    Payment Schedule:

    • We require a cash advance of USD 1,500.00 plus USD 250.00 for the initial expense.
    • The remaining attorney fees balance shall be paid once the purchase and sale transaction has concluded.

    Legal Work

    Fee in USD

    Comments

    Legal Consulting

    200

    Per hour or fraction. If you hire our office, the fee is deducted from the fee for drafting the promise to buy and sell agreement.

    Drafting the Promise to Buy and Sell Agreement.

    750

    The standard process is to celebrate a promise to buy and sell agreement; to give the seller the chance to pay taxes and gather the required documents.

    Our fee includes drafting the agreement and follow up on the negotiation of the agreement with the buyer.

    Drafting the Buy and Sell Agreement.

    250

    This is the contract to be registered at the Public Records.

    *If you want to hire my office, exclusively to draft this contract (not the promise to buy and sell), the fee will be USD 750.00

    Calculation of Transfer and Capital Gain Taxes, payment, and revision at the Directorate of Revenue (DGI)

    300

    Transfer tax is 2% of the higher value between the sale price and the cadastral value.

    Capital Gain tax is paid based on the higher value between the sale price and the cadastral value It could be a 3% or 10%, depending on the case.

    Obtaining certificate of good standing from the water company

    35

    The water good standing has a USD 1 fee

    Obtaining certificate of good standing from the condo HOA

    35

    Obtaining a property tax good standing

    35

    Obtaining a corporate franchise tax good standing

    35

    Preparation and notarization of deeds

    250

    The fee does not include the cost of the deed. The Cost of the deed will depend on the number of pages. Usually between USD 80 to USD 250, and usually, the buyer covers the deed costs.

    Registration of Deed in the Public Registry

    150

    It does not include the registration fee that will depend on the sale price or the cadastral value, whatever higher, and whether the seller and buyer are corporations. Usually, the buyer covers the registration fee.

    Drafting a corporate/foundation/LLC minute

    250

    If the seller is a legal entity, a minute authorizing the sale is required.

    Total

    2090

    Fee may vary depending on the case.

    Additional Services

    Obtaining a certificate of Property from the Public Register

    35

    The fee does not include the cost of the certificate, which is USD 30.00

    Obtaining a NIT for the property

    150

    This in case the seller has not processed the property taxpayer id before. Notary fee of USD 10.00 must be added.

    Obtaining a NIT for the legal entity

    150

    This in case the seller has not processed the corporate taxpayer ID. USD 10.00 Notary fee must be added.

    Payment of Property Taxes

    35

    The fee does not include the balance due.

    Payment of franchise tax

    35

    The fee does not include the balance due.

    Total

    370

    Fee may vary depending on the case.

    The client must provide:

    • The corporate NIT number
    • The property NIT number

    Notes:

    • Courier fees are not included.
    • Translations fees are not included.
    • The fee may vary depending on the case.
    • The legal fee and expenses are approximate
    • Any additional service not contemplated will be charged separately.
    • If a real estate reservation agreement is required, the fee is USD 350 for the drafting or revising of the contract.
    • We will notify you immediately if we require additional expense money.
    • W Before any sale, you should verify that your property records have been updated in the Land Registry (ANATI). Updating cadastral information is necessary to:
      • Calculate the transfer and capital gain taxes.
      • Calculated the property taxes. Sometimes, after a property is updated, unpaid taxes, which the owner is unaware of, are shown in the system. Also, any tax exemption should be duly recorded.
      • The non-updates will slow down the process.

    Payment Schedule:

    • We require a cash advance of USD 1,500.00 plus USD 250.00 for the initial expense.
    • The remaining attorney fees balance shall be paid once the purchase and sale transaction has concluded.

    For further information, email us at lill@kerycruz.com