Understanding notary fees.
.
For all transactions concerning real estate, it is obligatory to pay acquisition fees, more commonly known as “notary fees”.
.
How are they calculated?
.
Notary fees are calculated from a percentage of the value of a property and vary depending on the type of property you are purchasing. In general, for the acquisition of an old property , they are between 7 and 8% compared to 2% and 3% on new properties.
.
They consist of 4 categories:
- Taxes: For a total of 5.9%. This is the largest share and constitutes a tax paid to the state.
- The notary's remuneration: It is set by a decree and varies depending on the price of the property. Approximately between 1 and 2%.
- Disbursements: These are application fees relating to the sums that the notary must pay to prepare the real estate purchase application. These include, for example, the sums necessary for consulting the land register, land publication costs, or concerning town planning documents.…
- Miscellaneous costs (certificates, administrative research, etc.)
.
Thus, notary fees are part of the real estate sales process in France. Having a significant impact on the amount of the transaction, it is essential to understand them in order to integrate them into your budget.
For more information, the National Agency for Housing Information provides you, on the website www.anil.org, with a simulation tool allowing you to know the amount of acquisition costs. The results communicated are for information only. It is therefore advisable to seek the services of a notary or a real estate professional in order to best approximate the real cost.
.
We'll see you soon for other articles on the real estate sector.
Your REFERENCE House team.
