THINGS TO CONSIDER WHEN USING A NOTARY FOR SIGNING A MORTGAGE DEED

The signing of the deed of sale is always carried out on an authentic form before a Notary. It comes several months after the preliminary contract. Therefore, in many cases, a notary is a very important person to help complete such a significant transaction.


Responsibility of a Notary


However, what does the Notary do? The Notary is a public officer, someone who is the liaison and the witness of important transactions. With notary services, it ensures the proper execution of the contract and its legal validity. The notary acts and determines the obligations of each party and then ensures compliance. The Notary carries out all the legal formalities of a sale: checks the deeds, the numerous legal and fiscal points, and the rights of preemption. In short, the notary’s role is major and essential as well as mandatory. He assures you a legal guarantee and confidentiality.


Signing the Deed of Sale


When do you sign the authentic deed of sale? The exact date of the signing of the deed of sale is estimated in the preliminary contract, taking into account all the duties that the Notary must carry out and the deadline for obtaining the loan. On D-Day, the presence of both parties is imperative to affix their signature to the deed of sale. In case of absence, it is possible to be represented by means of a power of attorney.


Note: Only the Notary can unilaterally postpone the date of signature of the authentic deed if he is obliged to do so by administrative constraints.


The Parties


If one of the two parties does not wish to sign, what happens? If one of the parties does not respond to the summons of the Notary or indicates that he no longer wishes to sign, the other party must still go to the Notary on D-Day to sign the deed of sale. It is then that the Notary notes the deficiency of the other party by the report.


Notary Fees


What about acquisition costs known as notary fees? The acquisition costs that we are accustomed to calling notary fees are added to the purchase price of the property and are essentially composed of taxes paid to the state. The acquisition costs include:

  • Costs and disbursements: these represent all the sums paid by the Notary on behalf of the client

  • The emoluments: the remuneration of the Notary


Transfer of Keys


The signing of the deed of sale marks the long-awaited moment of the transfer of ownership. The buyer receives the keys and takes possession of the property. However, be aware that it is possible to anticipate or postpone the delivery of the keys after the signing of the deed of sale if the two parties have agreed to it. At that time, the seller can then continue to reside in the property until a fixed date (transfer and moving date).


Consult a Notary


If you are buying a home and need assistance in completing the process when it comes time to sign the contract, choose a notary with experience in this field. There are many people who offer notary services, but may be best to consult an experience notary.


4 views