Notary fees in Morocco: what you absolutely need to know before buying
Understanding notary fees in Morocco
Why is it crucial to anticipate costs when buying a property?
The acquisition of real estate in Morocco is not limited to the selling price. Many buyers, whether Moroccan or foreign, tend to underestimate notary fees in Morocco, which can create surprises at the time of signing. One good preparation Financial therefore involves a clear understanding of these fees.
Real estate in Morocco: between opportunities and administrative complexity
The real estate market in Morocco is full of opportunities, but it is also marked by a demanding administration. The role of the notary is precisely to facilitate the sale, to ensure legal security of the transaction and to protect the buyer as well as the seller.
Fees, fees and procedures: what do notary fees cover
Fees encompass much more than notary fees. They also include registration fees, the land conservation fees, the drafting of acts, the administrative costs and sometimes the VAT. Understanding this composition allows you to have a clear vision of real cost of an acquisition.
The role of the notary in Morocco in a real estate sale
A key player to secure your acquisition
The notary in Morocco is a public officer responsible for authenticating the acts and guaranteeing the legality of the transaction. He is the guarantor of the legal security of sale and of the property in Morocco.
The role of the notary in drafting and validating the bill of sale
It is the notary who write the bill of sale, ensures that the clauses comply with Moroccan law, and verifies the documents necessary for the transfer of ownership. It also ensures that the seller is in good standing and that the property is not the subject of litigation or mortgages.
Notary and legal obligations: guaranteeing property in Morocco
In Morocco, the land conservation is mandatory for a property to be registered in the name of its new owner. It is the notary who carries out this procedure with the National Agency for Land Conservation, by pouring the conservation costs included in total fees.
Details of notary fees in Morocco
Notary fees: how are they calculated?
Notary fees in Morocco are generally calculated in percentage of sales price. This rate varies according to the value of the property, but it is often between 0.5% and 1% HT, to which must be added VAT (20%).
Land conservation fees: a cost that is often overlooked
Land conservation fees represent 1.5% of the sales price. They are paid to the administration for the official registration of the property in Morocco. This amount is obligatory and constitutes an important part notary fees.
Other ancillary costs to be expected at the time of purchase (registration fees, VAT...)
Among the other expenses to be anticipated:
- Registration fees : 4% of the sale price for real estate acquisitions.
- Stamp and deeds fees : on average 0.5%.
- VAT on fees : 20%.
In summary, the notary fees in Morocco are around 6 to 7% of the sales price, depending on the nature of the property and the services provided.
How to estimate notary fees based on the selling price
Rates applied according to sales price brackets
Here is an estimate of notary fees according to the selling price :
- For a property in 1 million MAD : approximately 65,000 to 70,000 MAD of fees.
- For 2 million MAD : between 120,000 and 140,000 MAD.
- For 5 million MAD : up to 350,000 MAD or more, depending on the services and options chosen.
Concrete examples: fees for a 1M, 2M or 5M MAD property
Let's take an example for a property in Morocco sold at 2 million MAD:
- Notary fees (1%): 20,000 MAD + VAT (4,000 MAD)
- Land conservation (1.5%): 30,000 MAD
- Registration (4%): 80,000 MAD
- Stamps and miscellaneous : 10,000 MAD
- Total : approximately 144,000 MAD, or 7.2% of the sales price.
Who pays what? Distribution between the purchaser and the seller
In Morocco, it is generally the buyer who pays all notary fees, unless otherwise agreed between the parties. The vendor, assumes the expenses related to the lifting of a mortgage or missing legal documents.
Optimize your investment by understanding the costs
Financial preparation: anticipate the overall amount to be expected
To avoid any unpleasant surprises, it is important to plan from the start an envelope covering all of notary fees in Morocco. This makes it possible to negotiate with full knowledge of the facts and to compare several properties according to their overall acquisition cost.
Comparison with other countries: are notary fees in Morocco competitive?
Compared to other countries such as France or Spain, notary fees in Morocco are relatively moderates. In France, they often reach 7 to 8%, while in Morocco, they generally remain less than 7%, while offering a similar service in terms of legal security.
What you can bargain... and what can't
Notary fees can sometimes be the subject of a negotiation, especially for large transactions. On the other hand, the land conservation fees, registration fees, and taxes are fixed by law and cannot be reduced.
Practical tips for working with a notary in Morocco
How to choose a reliable notary for your real estate project
Opt for a experienced notary, ideally recommended by a reliable real estate agency or other purchasers. Make sure it is registered with the National Order of Notaries from Morocco.
Opening a dedicated account: best practice to secure the transaction
It is advisable to open a dedicated bank account to the transaction. This allows to follow financial flows, to guarantee the transparency and to secure transfers for the notary and the vendor.
Essential questions to ask your notary before signing
Before signing, consider asking these questions:
- What will be the total amount of fees ?
- What documents do I need to provide?
- What are the deadlines for signing and registering ?
- Are there any charges or disputes related to property in Morocco ?
Conclusion — Understanding notary fees for a peaceful real estate purchase
Mistakes to avoid by underestimating notary fees
Neglect the notary fees may compromise a real estate acquisition. A difference of a few percent on a property worth several million can represent a significant amount. It is better to anticipate and integrate these costs into your financing plan.
Summary of the key points to remember for your real estate acquisition in Morocco
- Notary fees in Morocco are made up of retainer, of registration fees, of conservation costs and taxes.
- On average, they represent 6 to 7% of the sales price.
- They are in charge of the purchaser, unless otherwise specified.
- The notary plays an essential role for the safety and compliance of your real estate investment.
The better you understand the costs, the better you control your real estate project in Morocco!