During a real estate purchase, the Notary, a public officer acting on behalf of the State, plays an important role in fulfilling the formalities necessary for the authentication of the act of purchase:
– preparation, drafting and signature of the acts (preliminary contract and definitive deed of sale)
– handling administrative formalities (discharge of pre-emptive rights, etc …)
– calculation of taxes and regulations to the Administration (on behalf of the seller, settlement of capital gains / on behalf of the buyer, payment of transfer duties)
– registration of the definitive deed of sale at the Mortgage Office for publication in the real estate file.
It may act for both the buyer and the seller, although each party may appoint its own notary at no additional cost, the two notaries acting in inter-studies and sharing the fees.
The fees that the notary receives are fixed by the State, according to a scale composed of 4 value tranches of the villa:
– from € 0 to € 6,500: 3.945%
– from € 6,500 to € 17,000: 1,627%
– from € 17,000 to € 60,000: 1.085%
– over € 60,000: 0.814%
The fees to be paid to the notary are included, together with the transfer taxes and disbursements, “notary fees” to be paid by the purchaser.
These “notary fees” represent 7 to 8% of the purchase price if the acquisition is an old property or 2 to 3% if the acquisition is a new property.