OUR ADVICE
Notary fees: What are your purchase costs?
Buying a property involves acquisition costs, however these are more advantageous for new-build properties. As a specialist in new-build developments in ski resorts, MGM will guide you through your investment project step by step. To help you define, calculate and optimise your costs, we offer you our professional advice on making your purchase a reality.
Favourable notary fees for new-build property
With lower taxes levied by the government, legal fees are reduced and have become significantly more favourable in new-build property compared to existing property.
- For a new home, the government levies taxes amounting to 0.715% of the price (5% for an old home)
- In total, the costs of buying a new home represent 2 to 3% of its total value (compared with 8% for older homes)
- When buying a new-build property, the buyer can avoid paying departmental registration duty, profit tax and local council tax
- Transfer duties are also reduced
Understanding acquisition costs in three key points
What are acquisition costs?
Sometimes referred to as "notaire's fees", acquisition costs are essentially taxes payable to local authorities and the French Treasury.
Acquisition costs include registration fees, disbursements and the notary's fees.
Registration fees and taxes
Depending on the type of transaction, these taxes are paid to the Treasury or local authorities. The calculation is based on the value of the property and its geographical location
Costs and disbursements
These are fees paid to the notaire to cover the costs of the various intermediaries who are involved in the sale. These may include certain exceptional expenses (such as travel costs)
Notary's fees
Emoluments, i.e. the notary's fees, are included in the costs of the deed of sale.
Payment of notary fees
In accordance with article 1593 of the French Civil Code, the notary's fees are payable by the purchaser of the property. However, in certain cases, the seller may agree to bear the costs themselves.
When you buy a new-build property, the process involves the following three stages:
- Payment of the estimated purchase costs at the time of signing the preliminary sales agreement (Compromis de vente)
- The notaire provides you with the actual cost of the fees ( between 2 and 6 months after the acquisition)
- A reimbursement if the initial payment was higher than the actual costs
How can you calculate your purchase costs?
Working out the purchase costs involved in buying a property is essential for preparing a financing plan that is adapted to your investment objectives. MGM helps you do this with a powerful calculator that quickly works out your acquisition costs.
Did you know?
The acquisition costs are set by the government. The Notaire is legally responsible for paying the taxes to the local authorities and/or the Treasury.
Need more information?
Did you know?
The notary's fees are government regulated.
Acquire an exceptional new property in the most beautiful French resorts
MGM imagines and designs new property developments in the heart of the finest Alpine resorts: Flaine, Les Saisies, La Plagne, Méribel, Les Carroz, Le Grand-Bornand, Val Cenis, Valmorel... Built in an exceptional, unspoilt natural setting, all our residences has its own unique appeal. Each home offers a high level of comfort, with practical, generously laid-out interiors boasting plenty of natural light.
To turn your plans for buying a new property in the mountains into a reality, our experts will help you every step of the way: signing the preliminary sales agreement, defining the rental lease and pre-contract, simulating your mortgage, etc. Make the most of our services to calculate your acquisition costs and achieve a successful investment in the mountains!