Good News on Notaires Fees

Changes to Notaires’ fees makes buying a French Property cheaper.

Recent reforms to Notaires’ fees will be coming into effect on 1st May 2016 and they will allow Notaires to be able to offer discounts to French Property Buyers, making your French property purchase even cheaper, yes that means you!

More Good News.

The reforms are part of the "Loi Macron" which has the aim of making French Property more commercially competitive and this is always welcome news for British buyers of French property especially as compared to the UK, French property is amazing value already.

Maximum Fees in place for the first time.

From 1st May 2016 the maximum fee a Notaire will be able to charge is 10% of the sale price with a minimum fee of 90 euros. This could result in substantial savings of up to 70% on low value property purchases.

As an Example - Buying a plot of land for €3,000 will now only incur a Notaire’s fee of 300 euros instead of the previous 900 euros.

For sales of 150,000 euros or more Notaires will be able to offer a discretionary discount of up to 10% of their fees. A key point however is that they are 'not required to tell the buyer' that this discretionary discount is available and so buyers should establish if this discount is to be applied at the outset and obtain written confirmation of any discount given.

However don't get too excited as these discounts only apply to the actual "Notaire’s fee" part of the Notaire's fee, let me explain...

The discretionary discount is available only on the part of the Notaire's fee that the Notaire earns, not to the taxes and charges which the Notaire collects for the government on completion. The term ‘Frais de Notaire’ (Notaire’s Fees) includes these taxes and charges and so the discount doesn’t apply to the whole amount.

So good news, we all like a discount and a saving after all and as a general point this change will only make the cost of buying a property in France cheaper than before so that is a welcome step.

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