What is the role of the notary in a property transaction ?

4 December 2023

The notary is the only person who can authenticate the deed of sale and ensure that all the legal formalities are complied with during a property sale. The notary performs a public service function and has a legal monopoly on property transactions. It is not compulsory for the agent to be present when a preliminary sale agreement is signed, but we recommend that you do so, to ensure that it runs smoothly, particularly when the conditions precedent are being drawn up.

His job is to draw up the deed of sale and ensure that all the information contained in it is accurate and complies with the law. He or she is also responsible for checking the legal status of the property, particularly with regard to any easements, mortgages or other encumbrances that may affect the property.

The notary is also responsible for collecting the funds needed to purchase the property and transferring them to all the parties involved, such as the receiver. They are also responsible for registering the deed of sale with the relevant authorities.

In short, the notaire is a key player in the purchase of a property. They ensure that all the legal formalities are complied with, and guarantee the legal security of the transaction for all parties involved. Notaire's fees represent around 8% of the price of the property. If you are buying a new property, these fees are reduced to 3% or 4% of the price.

A large part of a notaire's work involves transactions. Real estate, around 70%. They can therefore be regarded as true experts in the sector. They will therefore be able to advise you in all your dealings. When choosing a notaire, make sure you choose a professional who can react quickly, as this is an important aspect of a property transaction. 

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