The Content Of The Article:

Have you finally decided to buy your house or apartment? Know that in addition to the purchase price you will pay, you will pay the notary fees, that is to say all the costs related to the execution of the deed of sale.

Notary fees: at the expense of the purchaser

In addition to the purchase price of the real estate he acquires, the buyer must pay the notary fees.
These consist of taxes and fees, disbursements of the notary and emoluments thereof.
If you buy a new building, you will only pay between 2 and 3% of its price in notary fees. On the other hand, if you buy an old building, you will have to pay between 7 and 8% notary fees.
The notary fees owed by the purchaser are composed for the most part of the registration fees, the notary receiving only a little less than 20% of the said fees.
It is only when signing the deed of sale that the payment of notary fees is requested from the purchaser. The amount then paid for notary fees is only an estimate: a few months later, you can receive a refund corresponding to the difference between the amount paid and the actual amount related to the notary fees.

There are some tips to put in place to reduce notary fees paid by the purchaser. The latter has two different options that will allow him to pay less notary fees than usual.
He can thus:

  • Pay the agency fees without going through his notary and distinguish clearly in the sales agreement the net selling price of agency fees.
  • Break down the amount furniture of the purchase price of the property. Thus the notary fees will be calculated only on the price of the property and not on that of the furniture.

The seller, also owed some fees

If it is the purchaser who must pay notary fees related to the signing of an authentic deed, the seller also has certain costs to bear. It is then mainly:

  • Expenses related to the release of his mortgage
  • Part of the condo fees
  • On the capital gains tax that he might have realized by selling his property at a higher price than he had bought
  • Or fees for real estate diagnostics.

Video Instruction: The HIDDEN COST of buying Real Estate…