Going to the notary requires the payment of fees, which can be included in real estate financing or be paid as part of a personal contribution, particularly when the loan is accompanied by a real estate loan.
Notarization fees to be paid
The borrower will have to pay notarization fees, which are estimated at 8% on average of the value of the property. We therefore understand that the amount is substantial when the borrower makes no specific contribution.
It is possible to pay these costs necessary to release the capital to request a 110% loan, the financing of which includes the purchase of the property and additional costs.
The borrower will then be able to have the necessary funds to pay the fees and authorize the real estate financing if this is the case, the notary fees will therefore be included in the real estate loan, allowing a simplified process and the classic of the notarized visit then exit of the fund.
Note that some notaries charge different fees, so costs may be higher depending on the city and region. Registration fees are set nationally and are therefore non-negotiable.
Inclusion of notarization fees
The inclusion of notary fees would require the borrower not to contribute a required amount greater than the price of the mortgage. You must take into account the amount of 110% and must therefore make a claim for the amount of the property plus 10%, this is done directly from the home loan simulator.
By following the different steps and providing the required information, the simulator will allow you to obtain several home loan offers from different establishments, thus facilitating your comparison of credit offers and subsidies at the best conditions.
Calculation of notary fees
THE notary fees, also called redemption or acquisition feesn, are calculated from three different costs: taxes, disbursements and notarization fees.
Please note that these costs are very regulated, so you will not have any unpleasant surprises at the time of the sale. But this also means that there is no possibility of negotiation.
Taxation
The notary public mainly acts as an intermediary in the sale of your property: he therefore receives a certain amount, but pays a large part on your behalf to the Public Treasury. These taxes are called “ registration fees » and vary depending on the type of property you are purchasing, its value and its geographic location.
The taxes collected for this purpose on the prices of new goods are as follows: 0.715% land registration tax, 0.1% of the movable security contribution.
When it comes to old properties, the taxes are much higher: from 3.80 to 4.50% depending on the area for registration fees, 2.37% for the base tax, 1.2 % for municipal tax, 0.1% for property security tax.
Expenses
Expenses are amounts added to the estimate of notary advances, notary fees for services provided by external parties. This may be linked to verification work: for example, it may be necessary to request a town planning document or to contact a specialist surveyor. These may also include documents required for a change of ownership.
In case some exceptional charges arise at your request, they are also included in the payments. You should also know that the guarantee of your property can have an effect on the amount to be paid to the notary: for example, if you choose a property loan, you must pay this amount to the notary.
You can negotiate a discount, but it’s still sstrictly regulated by law. The notary may therefore decide to grant you a discount on the portion above 150,000 euros, up to 10%.
For example, for a sale of €300,000, your notary can apply the following discount: x 0.814% = €1,221, or a discount of €122.1.
This discount must be granted to all its customers and displayed on the site. This means that your notary must tell you if he will apply this reduction: it will not be the result of hard bargaining on your part.
The notary’s remuneration
It is a question of notary’s fees. Each of his remuneration is regulated. This would therefore mean that the amount will be the same regardless of the notary chosen.
Below is the scale to follow: it starts from the bracket at the applicable rate
- From 0 to €6,500, remuneration to the notary of around 3.945%
- From €6,500 to €17,000 remuneration to the notary of around 1.627%
- From €17,000 to €60,000, remuneration to the notary of around 1.085%
- More than €60,000 remuneration to the notary of around 0.814%
Beyond €300,000, the fees are as follows:
- 0 to €6,500 remuneration to the notary of around 3.945% 6,500 x 3.945% = €256.43
- €6,500 to €17,000 remuneration to the notary of the order of 1.627% (17,000 – 6,500) x 1.627% = €170.84
- €17,000 to €60,000 remuneration to the notary of the order of 1.085% (60,000 – 17,000) x 1.085% = €466.55
- Beyond €60,000, remuneration to the notary of the order of 0.814% (300,000 – 60,000) x 0.814% = €1,953.6
For a total of €2,847.42.
When the 20% VAT is added, we end up with a final sum of: 2,847.42 X 1.20 = €3,416.9
When to pay notary fees?
Notarization fees must be paid upon final signing of the authentic deed of sale. Although not a legal requirement, this use is very common. Deposit of approximately 5-10% of the total sale price. The notary can collect the deposit and, in this case, block the money by depositing it with the Caisse des Dépôts et Consignation.