How do you calculate notary fees for a real estate purchase?
With our real estate agency in Paris 16, CENTURY 21 Auteuil Immobilier: Find out how to calculate “notary fees” and discover the tools that can help you estimate the amount.
How do you calculate notary fees based on the type of property?
Notary fees—more accurately referred to as closing costs—represent a significant amount of money, and it is important to understand them in detail. Contrary to what their name suggests, these fees do not go entirely to the notary. They are actually made up of several distinct components.
The largest share corresponds to the transfer taxes. These fees are paid to the tax authorities in the form of a “land registration tax” or a “registration fee.”
Next are the notary’s fees, which constitute his actual compensation for the work performed, as well as the administrative fees, which cover the various necessary administrative procedures.
Finally, a real estate security fee is paid to the government for land registration and public record-keeping.
The total amount of notary fees varies significantly depending on the type of property purchased:
- For an older property, expect to pay between 7% and 8% of the sale price;
- For a new property, these fees amount to only 2 to 3% of the purchase price.
What tools are available for estimating notary fees?
To better plan for these costs, there are several online tools that can provide accurate estimates. For example, the National Agency for Housing Information (ANIL) offers a simulator that allows you to estimate notary fees based on the type of purchase (land, new or existing housing) and the property's location, specifically the department.
