The notary has a duty to advise his clients. He/she will first explain to the seller and the buyer the effects of the terms of the contract they will sign (so-called „reading” of the facts) and ensure that they understand the extent of their obligations. On the day of the sale in the notary`s office, the buyer and seller must sign the deed of sale – often at the same time, but they can also sign the document at different times or at different times, the notary being there to guarantee their free agreement after reading the deed. The seller and buyer must also pay the notary registration fees and transfer fees in accordance with the law (usually at a rate of 5% for each party). Third, the seller and buyer sign a sales contract with the notary. All parties agree to sell in the future, but only under certain conditions known as „precedent terms.” For example, the buyer agrees to purchase the property provided that the seller`s bank withdraws the mortgage held on the property. Alternatively, the seller agrees to sell if he is in possession of a subdivision authorization. There are different scenarios and the notary must adapt the text of the agreement to the particular circumstances of the transaction. As a judicial officer, the notary has a duty of impartiality. This makes him a trusted third party essential for a sale. Without the notary, the seller would refuse to sign final documents until it is paid and the buyer refuses to pay until he obtains ownership of the property.
The notary allows the parties to resolve this dilemma by guaranteeing the seller that the buyer has the necessary money in his client account and by assuring the buyer that the money will only be paid in the event of an actual transfer of the property. 5) Your purchase agreement would include the clause that, in the event that the seller refuses to execute purchase with full payment, the buyer may take legal action for the specific performance of the contract, but the seller will not be able to take a enforcement action to compel the buyer to sign the proof of purchase before a notary. The provisional booking contract – known as CRP – is a special type of prior obligation. It is used for the sale of buildings to be built, i.e. mainly unscheduled real estate programs sold under the future sale of Achévement (VEFA). The potential buyer of many promises to buy if all the conditions are met by the developer of the project. If the developer decides not to proceed with the project, he may withdraw from his obligations to the potential buyer. In the case of the sale of real estate on Pas Geometrics (land reserved along the coast), an additional tax is divided into 20% of the value of the rental right in equal parts between the seller and the buyer. Secondly, the documents of the property (property reserve, co-ownership rules, etc.) must be submitted to the notary for the necessary checks. The notary will check whether the seller can freely sell his property and inform the buyer of any identified obstacles or legal risks – usually a mortgage on the property.