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The role of a notary is editing
contracts (deeds, marriage contracts, donations, partitioning, constitution of
societies, mortgage deeds, etc..) and collecting the parties signatures.
The notary is a ministerial officer designated by the
department of justice. His intervention gives an authentic feature to the deeds;
this means that the contract has an undeniable characteristic transpiring of the
identity and capacity of the parties to sign, of the description of property, of
the price, etc...
The notary also has a role of
tax collector, as he collects various taxes generated by the transactions he
carries out (registration rights, tax on the " plus value ", etc..) and then
transfer them to the public treasury.
He must always make sure the tax
has been paid by the parties before collecting their signatures.
On account of
his public status, the notary doesn't have a loose financial remuneration as
he must invoice his allowances according to the national schedule used
by all the notaries of France
, which is relatively
complex, because of the emolument that is planned for each type of deed.
In the end, the notaries bill is
composed of many elements, of which a big part of it goes to the public
treasury.
Thus, the fees paid by the buyer, during a
sale, include:
-
The financial remuneration of the notary to the amount of
0,825 % of the sale price.
-
The reimbursement of the expenses made by the office, in
order to obtain certain documents necessary to the editing of the deeds, as
well as the copy fees; they are called outlays.
-
The taxes generated by the transaction, and more
particularly, the registration rights, which add up to 5,10 % of the sale
price, but also the fixed fees invoiced by the mortgage office, of which the
salary of the conservator equals 1/1000 of the sale price. Naturally to this
must be added the VAT at the rate of 19,6 % collected on the notaries fees
and on the outlays.
By adding all of these elements together, the total
invoice (non-negotiated) generally amounts to approximately 7 %, of
which 6 % are directly poured into the till of the state.
If the buyer finds a property through the
notaries office, the notary can claim an additional fee, said of "negotiation", equal to
2,5 % of the sale price.
The notary also has a very
important role of giving advice.
His intervention during the
realization of the contract allows to insure that the parties confirm their
agreement after having consulted a legal practitioner likely to warn them
against the possible risks of the transaction and capable of advising them on
the best way of protecting themselves.
The language barrier generally makes
foreign people more vulnerable and that is why we attach a great importance to
improve our language level and be capable of giving you all the explanations
necessary in fluent English.
Today we are able to assist you in all
the stages of your projects in France and especially:
1°) On occasion of purchasing a
property in France
2°) On occasion of selling a
property
3°) For all juridical
advice
