The notary is a lawyer invested with a mission of public authority who exercises his functions in a liberal capacity. Its role is to establish indisputable contracts on behalf of its clients. He has the power to confer on the acts he drafts a pledge of seriousness and authenticity by affixing his signature. He thus officially notes the will expressed by the persons who appoint him and makes a personal commitment on the content and the date of the act.
Apart from this role, the notary can also provide each of the parties (buyer and seller) with advice adapted to each situation.
The choice of the notary in Morocco is completely free. This can be a choice of proximity or because such a notary has been advised by a relative or is known to master such a specialty.
The role of the notary in a real estate sale in Morocco:
After finding the apartment or villa you want, you move on to the acquisition phase.
The role of the notary when buying real estate is essential. He supports his clients from the pre-contract until the final sale, that is to say from the signing of the sales agreement until the signing of the final deed of sale.
The notary will check the legal framework of the property you wish to acquire. Generally speaking, it will ensure the legal security of the property you want to buy.
He will verify this situation by means of a number of administrative documents. He will apply for a mortgage statement to verify if there are any mortgages on the property and to ensure that they are lifted. It will also ascertain the origin of ownership of the asset so that your future ownership will be completely sound.
Once the notary has collected the information that has enabled him to verify the legal certainty of the property, he will proceed with the signing of the authentic deed of sale. It will therefore bring together the seller and the buyer to proceed with the signing of this authentic instrument which will record the transfer of ownership of the property from the seller to the buyer by handing over the keys against payment of the price by the buyer to the seller.
The purchaser will provide a check for the amount of the price and the notary fees; the notary himself writes a check to the seller, which ensures the latter full security of the payment.
Once the signing of the authentic deed of sale, the notary must proceed with a certain number of subsequent formalities which are, on the one hand, the publication in the mortgage registry of this authentic deed and, on the other hand, the reimbursement to the various creditors of the seller of the sums which would be due to them to lift the mortgages. All in order to ensure the full safety of the new owner.
Notary fees in Morocco:
When signing the deed of sale, the purchaser is asked for costs. In addition to the fees of a real estate agency, the buyer pays what is improperly called notary fees. These costs represent approximately 7% of the purchase price and break down as follows: 6% are taxes collected by the notary on behalf of the state and various communities and 1% represent the remuneration of the notary.
Details of the notary fees relating to the purchase of real estate according to the specifics of Moroccan legislation and in accordance with the directives of Decree 2-16-375 promulgated on November 1, 2016:
– Registration fees (updated in November 2016): 4% of the sale price
– Land conservation (updated in November 2016): 1.5% of the sale price + 100 DH of fixed duty + 100 DH for the certificate of ownership
– Application fees (stamps, copies …): between 1000 DH and 1500 DH
– Notary fees: between 0.5% and 1%
– VAT on the notary’s fees: 10%