Руководство по покупке

 

 

Any natural or legal person may be entitled to settle in Monaco. There are indeed no special dispositions and the Monegasque market offers to its residents and companies many advantages of all kinds.

Our experienced team of brokers will share his network and knowledge of the market in order to help you in your search for the ideal property.

We work alongside with most of the real estate agencies and developers established in Monaco, which allows us to offer you a very wide selection of properties corresponding to your expectations and to organise viewings. Thus, you have the advantage of having only one representative who has a global vision of the real estate market. You will also benefit from having access to many off-market properties.

  • First of all, we will need to gather a maximum of elements in order to understand your search and to be able to help you efficiently to find the right property. It will be important to clearly define your needs, your expectations and the budget you wish to spend.
  • Afterwards, our team will propose you a wide selection of properties both publicly marketed and off-market.
  • We will organise visits of the selected properties and start discussions on the one(s) you are interested in.
  • In case of interest of one of the visited properties, you will have to formalize in writing and submitting a buying offer. Be careful : following Monaco rules, if this offer is accepted and countersigned by the seller, you are committed without any possibility of retraction other than the possible suspensive conditions mentioned in the said offer. The following information will have to be mentioned :
    1. Identity of the buyer
    2. Information regarding the property
    3. Price and payment method
    4. Period of validity of the offer
    5. Charges and conditions of sale
    6. Possible suspensive conditions such as financing, works, etc.
    7. Costs and fees
    8. Deadline for signature of the authenticated deed of sale.
  • If this offer is accepted, the agency will take care of handing over the deposit cheque addressed to one of the notaries established in Monaco unless you opted to make a bank transfer directly to their account within 48 hours after approval of the offer. You will no longer be able to withdraw from the offer as well as the seller.
  • Possibility to sign a preliminary sale agreement deed but it is not mandatory in Monaco. It is strongly advised when there are specific conditions written. This contract, signed at the notary office comes as a complement to the buying offer and is required if you need to be financed by a credit institution or if the apartment is subject to the State's right of pre-emption.
    Indeed, if the chosen property is located in a building built before 1947, the State will be able to use its right of pre-emption within 30 days from the signature of the preliminary deed of sale and it will replace the buyer itself. Your deposit will be given back to you but you will not be able to acquire the chosen property. On the other hand, if the apartment is not subject to this right of pre-emption the sale can be carried out very quickly.
  • If suspensive conditions were mentioned in the offer, they must be fulfilled within the time limits set. A few days before the signature of the deed of sale at the notary's office, you will be sent a statement of account and you will have to pay the balance. The notary will have to receive it at latest on the day of signature.
  • The signing of the authenticated deed, either in front of a notary, or by means of an authentic power of attorney, will confirm the content of the sale and the agreement between the parties with enforceability. This deed is binding with the same force as a final judgment. It establishes the new property on a certain date. The keys will be handed over to you at the end of this solemn moment.
  • Acquisition of a new property or a property being sold off plans : 2.5% on the value of the property (1.5% notary fees + 1% registration fees).
  • Acquisition by a natural person or by a civil company registered in Monaco: 6% of the value of the property (1.5% notary fees + 4.5% registration fees).
  • Acquisition through the property dealer regime (professionals only): 1.5% of the value of the property (notary fees only). The property must be resold within 4 years, otherwise a penalty of 6% based on the value of the property will be applied, in addition to the registration tax of 4.5% that should have been paid originally.
  • Acquisition of shares in a civil company registered in Monaco and holding a property: 4.5% registration duty calculated on the value of the property + notary's or lawyer's fees.
  • Acquisition through an offshore or foreign company: 7.5% registration duty on the value of the property.
  • Acquisition of a real estate property in life annuity: the fees are calculated on the value of the package (when it exists) + on the sum of 10 years of annuity (when it exists). They represent 6% (1.5% notary fees + 4.5% registration fees).

To these costs will be added the real estate agency fees payable by the buyer, established by the Monegasque Real Estate Chamber and which are 3% + VAT, therefore it represents currently 3.6% of the sale amount.

If the purchase is financed by a mortgage, a registration fees of 0.92% on the amount of the mortgage assignment will be payable. Depending the type of financing, other costs may apply.

Namely:

If the property you wish to acquire is rented, the tenant has no right of pre-emption unless this has been provided in his rental lease. Except in the case you reach an amicable agreement, you will have to respect the deadline fixed in his rental contract before recovering the use of the property.

If the apartment is subject to Law n°1.291, you will be able to use your right of use with 6 months notice and justifying that you will use the property as your personal residence or for the residency of one of your children.

Don't wait any longer, contact us without commitment and in complete confidentiality to talk about your project and we will be delighted to help you make it real by guiding you through the different stages.