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ALL ABOUT THE ROLE OF THE NOTARY IN THE REAL ESTATE SALE
The notary is a key player in every real estate transaction, guaranteeing the legal security and conformity of the sale. The notary is a public officer appointed by the State and an expert in real estate law. The notary can be entrusted with the entire real estate sale: signing the preliminary contract, drafting the deed of sale, handling administrative formalities, calculating taxes, making tax payments, declaring capital gains, etc.
Checking documents
Before the sale, the notary checks essential documents, such as the title deed, the town-planning note and the property diagnostics. These preliminary checks guarantee that the property is free of any constraints that could affect the transaction, and that the transfer of ownership is valid.
Drafting the preliminary contract
If the real estate agency does not take care of this, the notary drafts the sales agreement or the promise of sale.
This is a preliminary contract specifying the conditions of sale, the price and any suspensive clauses. This document secures the parties' intentions, and provides for penalties in the event of non-respect of commitments during the agreed period.
Managing the funds
The notary acts as a trusted third party, managing the buyer's funds and ensuring their proper distribution at the time of sale. This ensures that the seller receives the agreed amount and that eventual creditors are paid.
Removal of mortgages and verification of encumbrances
The notary verifies the existence of any mortgages or encumbrances on the property. He removes all mortgages and ensures that all condominium charges are up to date, so that the buyer never has to worry about them.
Signature of the deed of sale
The sale concludes with the signing of the deed of sale in the presence of the notary. The notary ensures that the parties have given their informed consent and obtains their signatures, thus formalizing the transfer of property.
Land registry
After signing, the notary publishes the deed of sale with the land registry, making the sale enforceable against third parties.
The notary's obligations during a sale
As a professional in real estate law, the notary has a duty to advise and inform. Whether chosen by the buyer or the seller, his role implies neutrality and impartiality. He or she is required to explain to both buyer and seller the different options available in a sale, the consequences of each act and the regulations governing the sale of real estate, so that the interests of both parties are respected.
