Choosing the right notary for your home

Published on the

[Magazine article LexpressProperty 73 (Feb - Mar)

All property transactions, irrespective of whether you are selling or buying a property, involve an accredited notary. In any given case, you may choose the notary that best suits your needs.

A key professional

A notary will guarantee a smooth and legally compliant property transaction. The notary will handle all the paperwork involved in the purchase of a property, such as the administrative formalities, signing of the final documents by the seller and the buyer, and checking the condition of the residential property with respect to the charges. He is also in charge of registering the deed of sale with the authorities within the prescribed time limits, or providing a duly registered copy to the buyer.

Legal costs

Aside from the purchase of a residential villa developed within the framework of a specific real estate project for which the developer is responsible for appointing the notary, a foreign buyer is free to choose his notary. The notary may be based in Mauritius or abroad.

Generally speaking, a foreign buyer opts to hire a notary operating in his home country. Whereas the seller may align his choice to the buyer’s preference, or choose his own notary altogether. It is not illegal for two notaries to work on the same transaction.

Irrespective of the choice of notary, the latter is requested, along with others, to render impartial advice to both the buyer and the seller on the content of the offer to sell and, subsequently, in the final sale contract.

The legal costs of buying a luxury property are 2% for the first Rs 250,000, 1.5% for the next Rs 500,000, 1% for the next Rs 1,000,000 and 0.5% for the remaining sum. VAT of 15% must also be included.

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