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Mortgage Query

Posted by dzj744 - Created: 13 years ago
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1 reply

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Posted by Montana99 - 13 years ago

The hypothque costs are NOT included in the Notaire's fees.   

Know that if you reell your property, with an hypothèque you then pay AGAIN a fee for the levée d'hypothèque (the notaire has do do all this, so you pay him his services).  Hypothèques are usually required by the financial establishment funding the purchase IF they feel there is a risk so in case of a resale, the money goes directly to the notaire to pay off the financial institution.

A caution is cheaper, however, there is no real guarantee for the financial institution that if you resell the property they will be paid back the amount borrowed... Of course, you recuperate part of your caution - which is better than paying a notaire twice.