Disclaimer: This article is translated from ¿Cuáles son los gastos extras al comprar una vivienda? originally posted on Capitalizarme.
We all know that acquire a property (regardless of the purpose) implies extra costs. It is important to know what costs exist as they can heavily affect our budget. In Chile, a few of these costs are:
Impuesto al mutuo, or so called stamp tax, is paid to the national treasury when buyers sign the mortgage loan at the notary. If the property is under DFL2, the tax will be 0.3% of the loan amount, otherwise 0.6% for used or new homes that are not covered by the DFL-2.
Tasación, appraisal in English, refers to the cost needed to assess and define the commercial value of the property, which will be a guarantee for the financial institution. The appraisal can range from UF 2.5 to UF 5.
Estudios de TÃtulos, title research, is an analysis carried out by a lawyer to make sure that the property is in condition to be transferred legally, as well as to be able to transfer and register the corresponding liens. The cost varies among banks, but tends to be between UF 2 to UF 3.
