Monday, November 17, 2014

Initial costs in purchasing property

The Deposit :
At the signature of the « compromis de vente », an amount will be payed as a deposit (a show of good faith). It represent to 5% of the purchase price, and it is deducted from the whole amount at the notarial act.

Legal fees to purchase property :
These legal fees (8% of the purchase price) are payed to the notaire and include:
- taxe d'enregistrement: registration tax payed to the state
- « débours » : sums payed by the notary on behalf of his client in order to get the appropriate documents needed to transfer the property,
- Emolument : sums payed to the notaire for his work.

Agency fees
Purcentage based on the purchase price, decided according to the property's characteristics .

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