You want to buy a house, a studio or an apartment ? Do you know that it is highly recommended for buyers to have their own notary even if it is the seller or sellers who manages the transaction? Here’s what you need to know about that.
A notary for the seller or sellers
In the context of a real estate purchase, the seller must involve a notary since it is the latter who will, among other things, finalize and, therefore formalize, the transaction. This step consists of the signature of the authentic deed of sale and is done in the presence of a notary. Both the seller and the buyer then make a definitive commitment.
The notary is what is called a private lawyer. It has a mission of public authority. By sealing various acts and contracts, he makes them legal and official. It also studies and gathers all the documents necessary for the sale/purchase of a property. He, too, is the one who will publish the deed of sale to the real estate file of the mortgage department. Its role is therefore essential. However, as a buyer, you can also bring your own notary with you. This is even highly recommended.
A notary for the buyer or buyers
For the buyer, getting help from a notary is highly recommended, as it offers many advantages. It is the seller’s notary who will direct the exchanges and manage the documents. However, the buyer or buyers may also to be accompanied, in particular, in the drafting of the acts. Thus, each expert defends the interests of his own clients and the sale is done in the fairest way possible for both parties. For the buyer, the support of his own notary can, moreover, allow the addition of suspensive clauses in connection with any doubts related to the transaction.
Is it expensive to bring in a second notary? Not at all. Behind the term “notary fees” are in fact municipal and/or departmental taxes, the notary’s remuneration or ancillary fees. These famous notary fees – about 7 to 10 of the price of the property – are paid entirely by the buyer. When two notaries intervene, the fees or emoluments (fixed by decree) are not doubled, but are in fact divided in two.
Two notaries, they are also twice-esigned. Whether it is title deeds, rights of way, easement rights or the sale price of the property, they will each be able to check everything carefully on their own.
In a nutshell
For the buyer, using his own notary offers multiple advantages:
- No extra charges;
- Personalised accompaniment;
- Better defended and secure interests;
- Possible suggestions for changes to the deeds proposed by the notary hired by the seller or sellers;
- Clear and accurate answers when you have questions about the transaction, the property and the like;
- An in-depth reading/study of the final deed of sale;
- An advanced and expert verification of various points and documents: technical diagnoses…;
- More serenity for the buyer orbuyers.
The accompaniment of a second notary for the buyer is not an obligation. However, this is advisable because, as we have said before, it will verify that everything is in order, from housing to documents to the final deed of sale. If it is a complex transaction, its intervention will be all the more useful since it will bring you wise advice and more serenity.
Before the last appointment with the notary, whether you choose to involve your own expert or not, we advise you to visit the property one last time. (the day before or on the very day of the signing of the authentic deed). This will help you ensure that the accommodation is in good condition and has not been broken into or degraded.
Every time you visit the property, take detailed photographs to be able to compare them between each of the comings and check if there are any missing elements. During the last visit, if you see a problem, you will have evidence to support what you are saying. If there has been a burglary or water damage, for example, it is the seller’s insurance that must intervene.
When buying real estate, the intervention of a notary is mandatory. Two experts can also be involved. For the buyer, the presence of his own notary is highly advisable, because it avoids various problems, conducts additional checks, benefits from an expert look and concludes the purchase in a much more serene way. In addition, this does not incur additional costs, as the fees are shared between the two professionals. And if you want even more serenity and helpful advice, call on a HOME SELECT real estate hunter.