Real Estate Transaction Costs in Uruguay
3% for the seller and 3% for the buyer plus V.A.T. (22%).
The total transaction costs are usually between 6 – 7% for the buyer. Besides the 3% plus V.A.T. (22%) Real Estate Agent fee to be paid by the buyer (=3.66%) and a buyers “Escribano” fee (Similar to an Escrow fee) of usually 3% plus V.A.T. (=3.66%). A deed registration stamp tax of 0.55%. A Registry and Tax Certificate stamp tax of approx. $200 and a property transfer tax of 2% of the fiscal value of the property. The fiscal value is normally substantially lower than the market value.
Taxes, notary and register fees must be paid by the purchaser, the commission to Engel &Voelkers is 3% plus V.A.T. of the value, must also be paid by the buyer as stipulated by Uruguayan Real Estate regulations.
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