Choosing your notary for a real estate purchase is a crucial step. Thus, the notary is obligatory to formalize the purchase and is the only one who can authenticate the acts carried out. However, it is not necessary at all stages of the real estate purchase process. It can therefore be chosen to involve it in all or part of these steps. The notary thus adapts to the different needs of the buyer and/or seller. Depending on the situation, the parties may need special expertise. It is then necessary to find the right notary. In France, there are about 6000 notarial studies spread throughout the country. BORDEAUX Business gives you a few clues to choose your notary for a real estate purchase.
Why hire a notary to buy a house or property?
The notary makes it possible to formalize and authenticate the various acts relating to the purchase of real estate. Thus, in addition to a legal obligation, it also guarantees compliance with documents. He ensures that everything is done in the proper way and that there is no evidence missing. It also supports land advertising, i.e. the official publication of the deed of sale. It is therefore also very reassuring for both the buyer and the seller.
Promise and compromise of sale, deed of sale… When is the notary required exactly? In reality, there is no requirement to call on a notary as soon as the promise to purchase. This act can be carried out under private seing, possibly with the support of a real estate agent. However, calling in a notary from that moment makes the promise an “authentic act”. It therefore has a more probative value and a certain enforceable force.
The notary, on the other hand, becomes obligatory to formalize the purchase. Thus, each transaction must be processed by at least one notary at the stage of the final deed of sale. By authenticating the purchase, the notary is then officially informed of the sale and can proceed with the legal declarations. Thus, he is responsible for publishing the sale with the land advertising service.
First of all, there are many ways to find your notary. Many people recommend relying on word of mouth. It may therefore be interesting to inquire in his surroundings to get feedback and possibly identify the appropriate notary. Otherwise, an internet search can help find shoe at your feet. However, the list is not exhaustive. This can be obtained from the Department’s Chamber of Notaries. If you are looking to buy on the Bordeaux region, then you can go to the Chamber of Notaries of the Gironde.
On what criteria should you choose your notary for a real estate purchase?
Beyond the practical details to identify professionals, criteria are taken into account to choose your notary. Starting with the geographical area. Notaries are spread throughout the territory and have national jurisdiction. On the other hand, it may be interesting to choose a notary near the property. For practical reasons first because it is easier to access for the buyer and seller; but also because he is then more aware of the planning rules relating to the municipality in question. Note, however, that a notary can move and it is even possible to give him power of attorney to sign in place of the seller or buyer.
Second, it is important to understand that the notary is a legal professional. In this sense, it has different skills but may have specific areas of expertise. Family and transmission, wealth, real estate… Thus, depending on the situation of each, one notary may be more appropriate than another. To determine this, one can learn about the skills of the notarial study team; or seek advice from his real estate agent, who is used to working with notaries.
In addition to his expertise, the notary must be able to make himself available. A real estate purchase is not trivial. It is therefore necessary to be well informed and accompanied. The notary must then be a teacher and adapt his language to the level of knowledge of the stakeholders. He takes the time to understand the project to make the most appropriate recommendations. On the advice side, it is also quite possible to rely on a wealth manager, a lawyer or an accountant.
Who chooses the notary for a real estate sale?
The choice of a notary for a real estate purchase may be up to the buyer or seller. There is no rule of matter. The only obligation is to choose a notary for the transaction. Usually, it is the buyer who chooses the notary. However, the seller can quite suggest one if he wishes, or take one as well. Indeed, it is possible to have two notaries for the same transaction. In this case, the notaries work together to carry out the sale.
It should be noted, however, that using two notaries rather than one does not double the notary’s fees. Indeed, these fees consist mainly of taxes for the state and local authorities. As a result, these fees are only to be paid once, regardless of the number of stakeholders. As for notaries’ remuneration, the emoluments are shared according to the tasks performed.
The practice of the profession of notary is therefore very supervised. Financially, there is then relatively little difference from one notary to another. Therefore, it is not a significant criterion of choice. On the other hand, using a notary is both a legal obligation and a security for stakeholders. Also, there is no need to opt for two notaries so that buyer and seller feel properly surrounded.
Sources
How to choose your notary?, Real Estate Guide; Seloger
How do you choose your notary?, CAFPI, article updated on July 6, 2020, published November 18, 2019
How do you choose your notary for your real estate purchase?Pretto, article updated November 17, 2020
