It is essential to use the services of a notary when carrying out a real estate transaction, because without a notary, the sale has no legal value. This service is not free of charge and therefore entails notary fees, otherwise known as acquisition costs.
The notary's fees include all sums paid to the notary in the case of a real estate transaction, including his remuneration, taxes collected on behalf of the authorities together with transfer duties (i.e. registration fees in the case of a real estate sale).
The remuneration corresponds to the remuneration of the notary in the context of the real estate transaction carried out. The fees are regulated by law and therefore do not vary according to the notary. The transfer duties are the registration duties levied by the commune and the department. Finally, the property security contribution is paid to the State.
It should be noted that the notary's fees are payable by the purchaser and are paid at the time of signing the deed. At that time, they are not fully determined, so it is more a question of an estimate to be paid and finally reimbursed, if necessary, by an amount corresponding to the difference between the sum paid and the final amount.
It is important to note that the seller may have costs, such as costs related to technical diagnoses, capital gains tax or co-ownership costs.
The notary fees for a property represent approximately 7 to 8% of the price of the property in the old and 2 to 3% of the price for a new property. This amount depends on several factors such as the nature of the property, whether the furniture is sold with the property or the location of the property.
In order to calculate these costs, the notary's fee scale, the transfer duties and the real estate security tax are needed. The scale, otherwise known as the emoluments of formalities, varies according to the notary and the work between 800 and 1,000€.
The scale is set as follows:
- 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%.
Since May 2016, notaries can grant a 10% discount for transactions over €150,000.
