Finance
The costs that arrive after the down payment
Transfer duty, the deed, the notary and the bank each charge on their own basis. Here is what every item is, and who sets the figure.
Cabana Residence Cijantung
The price on the pricelist is the developer's number. The amount that leaves your account before you hold keys is larger. None of the extra items are hidden, but each one is set by a different party, so the only way to reach your own figure is to ask each of them in turn.
Transfer duty, or BPHTB
BPHTB is the buyer's tax on the transfer, charged at five per cent of the transaction value less the non-taxable threshold that applies in the region. It goes to the regional government, not to the developer, and it has to be settled before the deed can be signed. Jakarta also has a relief scheme for a first landed house below a set NJOP threshold, which for a buyer who qualifies takes this line to zero. Whether the scheme is in force this year, and whether your own record and this house qualify under it, are two separate questions. Both are answered by the notary handling your akad and by Bapenda DKI, so ask them before you budget either way.
The deed and the title transfer
The sale deed is drawn by a land deed official, a PPAT, and the certificate is then transferred into your name. The PPAT sets its own fee, and the split between buyer and seller is whatever the sale agreement says it is. Ask the PPAT the developer works with for a written quotation, and read the clause that allocates the cost before you sign anything.
Bank charges
A provision fee is deducted from the loan at disbursement, so the amount that reaches the developer is less than the approved figure. Administration and appraisal fees are charged separately. Credit life insurance and fire insurance are both mandatory and are usually collected upfront for the full tenor, which is why the first-day cash requirement rises with a longer loan. Every one of these is the bank's own number, and they differ between banks: ask the one you apply to for the percentage it charges on each.
Budget the whole thing at once
Ask for two written breakdowns before you pay a booking fee. One from the bank, covering the costs on its side of the akad. One from the developer and the PPAT, covering the deed, the transfer and the taxes. Together they give you the real first-day figure, and the down payment turns out to be one line in it rather than the whole bill.
