Costs involved with transferring real estate property
The buyer and the seller of a real estate property are free to determine who of them shall pay the notarial costs and other costs for transfer of the real estate property. This will be included in the contract of sale. It is usually the buyer who pays the these costs (kosten koper), but it is not uncommon that the seller pays the costs (vrij op naam).
The notarial costs involved with the transfer of a real estate property are fixed and are dependent on the amount of the purchase price of the property, ranging between USD 100 up to approximately USD 10,000. Since there is no notary on Saba (or Statia), the notaries in St. Maarten are empowered to carry out their duties on Saba (and Statia). The Ministery of Justice and Safety has granted a subsidy to the notary that gives notarial services from St. Maarten on Saba and Statia, which may cover the extra costs of the notary that cannot be charged to the client.
Transfer tax (overdrachtsbelasting) is 5% of the purchase price . A search for liens, recordings and registrations will approximately is free, because the public authority pays these costs There is a legislative proposal for the Land Registry Act BES (Kadasterwet BES) in which this will be adapted.