Reduced conveyancing fees for buying your house
During a real estate purchase, the buyer must pay taxes and additional fees at the selling price. In the new market, these fees amount to 2 to 3% of the selling price. We are talking about "reduced fees" or "reduced notaire fees".
Genle reminder about real acquisition costs
The Notaire’s fees paid by the buyer when buying a home include :
- the cost of certain administrative documents,
- the payment of the Notaire’s office fees
- the taxes and dues
In general, french notaire fees on the acquisition of real estate in the former are valued at approximately 7% or 8% of the price expressed in the deed against 2% to 3% of the selling price for the property new real estate.
In what cases can the conveyancing fees be reduced?
Notaires fees will be reduced in case of acquisitions of new housings.
The article 257, I.-2. 2 ° of the General Tax Code gives a very precise definition of new housing. It may be from a new construction or some work. This will be housing sold by the developer-builder, either in a future state of completion otherwise known as "sale off plan", or just completed and not yet inhabited... In this case, the seller being be subject to VAT, the selling price stipulated TTC. Thus, the notaire's fees are lower because they are limited to the cadastral taxes and emoluments of the notaire.
- I buy a property for which the mandate of sale provides that the payment of real estate agency commission is the responsibility of the seller. Why is this commission included in the base for calculating notaire fees?
- I am a tenant of my principal residence and owner of my second home. I want to sell it so I can buy a new home that I will assign to my main home. This residence is worth 300.000 €, but I still have 100.000 € of credit to refund. [...]
- Seven years ago, I had my house extended but I did not take out property damage insurance. I wish to sell my property but the notary tells me that I must personally guarantee the purchaser in case of occurrence of damage covered by the ten-year guarantee.