Lawyers fees for purchase

[Sunnyshores]

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

 

[Janoulaki]

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

 

[Sunnyshores]

Janoulaki - prompt and precise. Many Thanks!

 

[Janoulaki]

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,