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Lawyers fees for purchase

Discussion in 'Morocco Property' started by Sunnyshores, Nov 27, 2007.

  1. Sunnyshores

    Sunnyshores New Member

    Apologies, this is probably hidden somewhere in another thread. But, what prices have you been quoted for lawyers fees, including all disbursements:
    stamp duty - fixed at 2.5% of purchase price?
    notary fees
    notary taxes - fixed at 0.5% of pp ?
    registry fees - fixed at 1% of pp ?

    I have received a quote for a purchase in Marrakesh of 5% of the purchase price. Is this reasonable?

    Many thanks SS
     
  2. Janoulaki

    Janoulaki New Member

    HI sunnyshores,

    this is very usual

    overall cost of buying a property in Morocco is around 5% - 7% of the property value. (note: in the UK and in most European countries, buying costs are around 10%)

    This is made up as follows:-
    • Registration fees 2.5%
    • Notary's Tax 0.5%
    • Notary's fees 1.0% to a max of 2,500 Dirham
    • Land registry 1.0% (to get title deeds)
    • Sundry expenses 2,000 Dirham
    • Lawyer (optional but recommended)
    • Estate Agents (simsaar) fees (if using an agent) 2.5%
    • VAT may or may not be added into the cost of the sale and depends on the developer, and whether the property is a new-build or resale. This is a fee that you’ll want to verify BEFORE signing anything.
    • Cost of currency £0 to £1,000’s


    If you need anything drop me an email
     
  3. Sunnyshores

    Sunnyshores New Member

    Janoulaki - prompt and precise. Many Thanks!
     
  4. Janoulaki

    Janoulaki New Member

    You are welcome

    :)

    Good luck

    PS: this or next week you will be able to download for free the Morocco Buying guide as we are launching it soon,

    :)
     
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