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Notaire fees - who pays?

Posted by David_F-180946 - Created: 15 years ago
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When a property is sold, who pays the notaire's fees? I've seen pleny of calculators for buyers, and indeed we paid when we bought, but does the seller pay also?

Also, what can one reasonably expect to pay an estate agent? Are they open to negotiation?

Cheers,

Dave

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4 replies (Showing replies: 1 to 4)

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Posted by David_F-180946 - 15 years ago

Thank you all for your input, I think things are clearer now.

Dave

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Posted by Eleanor R-181992 - 15 years ago

Hello!

The notaire's fees are fixed by the French government and are partly taxes and partly fees.  There is only 1 fee that they can charge with regards to property deeds where they are free to fix it at whatever level they decide but they must be able to justify the fee (ie translation).  You can ask them for a detailed breakdown.  These fees are paid only by the purchaser and vary between 2.5% for a certain type of property to approx. 8% for other property.  The fees change depending initially on whether it is an old or new property but also upon the department and the commune.  If there is a mortgage involved then there is another tax for registering the mortgage on the property.

The agents fees depend upon each agent, often if they are specialised in a certain style of clientele or property they charge a higher fee.  This fee could be negociated, but usually has been fixed between the vendor and the agent.    The fee can be at the purchasers expense and therefore added on to the purchase price, please note that most banks do not finance the agents fees unless they are part of the purchase price and at the vendors expense.  If you are not applying for a large mortgage and wish to keep the notaire's fees to a minimum, then it is advisable to have the agents fee at the purchaser's expense and therefore separated out from the pure purchase price.

If you have any questions, you can e-mail me on eleanor.roberts@wanadoo.fr or call me on 06 15 16 10 04

Regards

Eleanor

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Posted by legend_in_my_lunchtime-182603 - 15 years ago

the percentages are usually pretty straightforward.  Notaire's fees (actually the combination of the notaire's own fee plus the state's deed tax) are about 10% ON the transaction price and agent's fees are about 6% OF the transaction price.

So for example, if your property cost 100,000 € - you would pay a total of 100,000 + 10,000 fees = 110,000 € total.  The buyer would receive from the notaire 100,000 less approx. 6,000 = 94,000€.  The notaire would pass the 6,000 to the estate agent.

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Posted by AlenaLindsay-184315 - 15 years ago

As I understand it, as it is decidedly a seller's market on the Cote d'Azur these days, the buyer would pay, if not all, then the greater bulk of the notaire's fees, and the price of the property would simply be adjusted to account for these fees. As for the estate agent, the notaire usually takes care of paying them as well I think, according to the terms of the contract you sign with the agent. I think, in this circumstance, the notaire takes it upon his himself to ensure that the deal goes without malfeasance on any side. As for negotiating with the agents, the percentage points they are willing to negotiate with you would be determined by the size of the deal, and whether or not you give them exclusivity- that is, a special deal by which their agency alone may negotiate a sale, rather than the seller giving out contracts to dozens of agencies. I'm afraid I cant give any more specifics, as its not my trade, but I can recommend a good English speaking agent that deals with properties from Cannes to Nice, if you email me at alenalindsay@hotmail.comGood luck.