When you sell land, a house or a condo, the notary acts for you as much as for the buyer. In fact, this lawyer does work for both parties and each will have to assume the fees related to the verifications carried out on their own behalf. But who chooses the notary? The buyer or the seller? In principle, it depends on the agreement reached by the saudi-arabia business email list parties. For example, it is possible that the seller of a house wants his notary to handle the transaction. He will then enter the name of the notary in the offer to purchase. If the buyer signs this document, he will be presumed to have accepted the conditions contained therein and will have to respect them.
In the absence of such an agreement, a distinction must be made. If the buyer pays the purchase price in full – with a mortgage or his own money – the choice is his. On the other hand, if the sale price is not paid in full and a balance must be paid by the buyer to the seller, in this case the latter can choose the notary.
Who pays what?
In practice, the promise to purchase will determine who will have to pay the costs relating to the purchase of the property. In the absence of an agreement, the buyer will pay the transaction costs to the notary he has chosen to prepare the file. Consequently, the fees related to the notarial sales contract, the publication costs, the copies of the deed and the examination of the titles will be the responsibility of the buyer. However, the seller could be required to pay an amount for services different from those assumed by the buyer.
In a real estate transaction, the seller has the obligation to provide clear titles to the buyer. It will be the notary who will carry out the necessary checks for this purpose and the seller will therefore bear the costs.