How to pay notary fees, registration and preservation fees, and property purchase price safely in Morocco

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Appartement meknes kamilia

Published on Nov 21, 2024
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When considering purchasing an apartment in Morocco, the buyer should be aware of the notary fees and registration and preservation fees. These fees are an essential part of the buying and selling process, as they guarantee the rights of the parties involved and help avoid any future legal problems. The buying and selling process begins with the notary when the buyer chooses an accredited notary. The notary will notarize the contract and ensure the integrity of the legal procedures. At this stage, the buyer should know how to calculate the notary fees, which are usually determined based on the value of the property. He should also be aware of the registration and preservation fees, as these fees are calculated as a percentage of the value of the property as well. These fees include the costs associated with notarizing the contract with the notary, in addition to the fees imposed by the state to register the property in the land registry. It is important for the buyer to be fully aware of how to pay these fees, as well as the guarantees available to him during this process to avoid any future problems or fraud. First, the buyer should choose an accredited notary in Morocco, as the notary plays a vital role in documenting the purchase process. The notary ensures that all required documents are in order and that the property is free of any legal issues such as mortgages or accumulated debts. After selecting the notary, the buyer must pay the notary’s fees, which vary depending on the value of the property and the type of service provided. These fees are usually paid at the beginning of the process, and it is necessary to obtain an official invoice proving payment. In addition to the notary’s fees, there are registration and preservation fees that must be paid when registering the property in the real estate registry. These fees are usually calculated as a percentage of the property value, and must be paid before completing the purchase. The buyer is advised to ensure that these fees have been paid in full, as failure to register may lead to future legal issues. One of the essential steps that the buyer must take is to ensure that all required documents are available before purchasing, including the title deed, tax clearance certificate, and all documents related to the property. The buyer should also obtain a copy of the notarized contract and keep it for future reference. To reduce risks and ensure security during the completion of the transaction, it is preferable to make the payment process via bank methods instead of cash. Bank checks or bank transfers are safe options, as they can be tracked and a record of payment is kept. It is also advisable not to pay the remaining amounts until the property is officially registered in the buyer’s name. One important guarantee for the buyer is to obtain a notice from the notary or from the land registry confirming that the property has been registered in the buyer’s name. This notice is considered legal proof of ownership of the property, and helps avoid any future disputes. The buyer must also obtain a receipt for payment of all notary fees, and in the event of any problems after the purchase, such as lawsuits against the property or unexpected financial claims, the buyer must be able to refer to the notary. We would like to point out that the buyer can use the method of calculating the registration and preservation fees of the real estate registry by reviewing local laws or consulting the notary directly. This usually includes paying the notary’s fees, which vary according to the services provided. It is important for the buyer to obtain an official invoice proving payment to avoid any future problems. Upon completion of the procedures, the buyer is usually asked to give a check to the notary, who in turn facilitates the registration and preservation process. How to pay the notary depends on the agreement between the parties, as payments can be in cash or by check. However, the buyer must be careful of fraudulent notaries or fraud that may occur during the property purchase process, as there are cases where some people may take advantage of the buyer's lack of knowledge of the laws. Therefore, it is necessary to choose a reliable and accredited notary in Morocco to ensure the safety of the transaction. Because the buying and selling process with the notary is a vital step to ensure the rights of the buyer and seller, it contributes to enhancing confidence in the real estate market. By adhering to legal procedures and paying expenses correctly, the buyer can obtain a new apartment, house, villa or land with complete safety and transparency.

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