In Morocco, as in many countries, the purchase of real estate always requires the involvement of a notary. If you are a foreigner and wish to buy a riad, villa or apartment in Marrakech, Casablanca or Agadir, you will need to call on a Moroccan notary. Indeed, he is a jurist authorized by Dahir, that is to say royal decree, to exercise a mission of public authority. The choice of notary is free between the parties as long as he can exercise his activity in Morocco. Of course, the use of a notary generates fees that should be included when buying a property. But before explaining what notary fees in Morocco are, it seems important to us to remember that his mission is not limited to authenticating the deed of sale.
The roles of a notary when buying real estate in Morocco
The notary's mission generally begins with the drafting and signing of the sales agreement and continues beyond the signing of the final deed of sale. However, in some situations, he may intervene earlier, for example by putting the parties in contact.
The notary's mission is essential: he will guarantee the legal security of the real estate transaction by verifying the situation of the property, object of the sale. He will ensure that it is a titled property and that the data provided by the seller corresponds to those recorded with the ANCFCC (National Agency for Land Conservation, Cadastre and Cartography).
He also carries out checks that will focus on:
- the existence of any mortgages on the property, and if applicable, their release;
- the absence of false declarations regarding the origin of the real estate property;
He takes care of drafting the sales agreement and therefore the suspensive clauses which are of paramount importance for the real estate purchase to be made in complete safety.
He is also responsible for drafting the authentic deed. He receives the seller and the buyer so that they can proceed with the signing and ensures the handing over of the keys in exchange for payment of the sale price.
But once the deed of sale is signed, the notary's role in Morocco does not stop there. He is the one who must publish the authentic deed at the mortgage registry. If there are mortgages on the property for sale, he will deduct from the sum received by the seller the amount necessary to repay the creditors.
The notary's role is therefore vast. In addition to all these administrative and legal formalities, he can also advise the parties during the setting up of the real estate transaction.
What do notary fees correspond to in Morocco?
During a real estate transaction, the buyer pays the sale price of the property and other fees such as the agency fees but also notary fees. Contrary to what one might think, notary fees are not limited to the remuneration of this public officer. This remuneration accounts for only a small part of these fees.
In general, notary fees correspond to 7% of the sale price of a property. Around 6% consists of taxes or duties collected by the notary on behalf of local authorities or the Kingdom. The notary's remuneration typically ranges between 0.5% and 1.5% of the sale price.
The taxes and duties collected by the notary during a real estate transaction in Morocco are:
- registration fees;
- land registry fees (including property certificate fees);
- VAT on the notary's fees.
In addition, there are file processing fees.
