The buying process

Fees to be paid by the buyer

  • Registration Duty          6%

  • Notary Fees                  1% -1.5% Approx

  • Stamp Duty                   1%

  • Legal Fee                      2.5% Approx

  • Land Registry Fee         1%

  • Costs paid by buyer      11%-12% Approx

      

  • When an agreement to purchase property is made, the agreed deposit is paid, (30% for ‘off-plan’ properties),when buying an ‘off-plan’ property, The deposit is normally paid to the notary who will pay the developer once it is confirmed the project meets all commitments. 

  • To confirm the agreement, the buyer must sign a Preliminary Contract, which specifies the price and any conditions such as ‘subject to finance,’ or ‘subject to inspection.’ This contract should be reviewed by the buyer’s lawyer, who can sign the contract on the buyer’s behalf. After signing, there is a cooling off period. 

  • The buyer must now sign and return a draft of the final sales agreement. The notary will then send an invitation to sign the actual Final Contract of Sale. Upon signing, the balance, notary fee and transfer tax must be paid.

NOTE: Foreigners can only buy agricultural land when the Title Deed is changed to reflect the land will now be a non-farm property.

The notary will check:

  • The legal owner of the property and if they have the right to sell.

  • Proof of the identity of the seller.

  • The details of the property are correct, such as size and construction details.

  • If any of these cannot be met, proceeding with purchase may be a risk.

  • If many members of a family jointly own a property, they must all sign the purchase contract for the sale to be completed. 

 

 

 

 

 

 

Getting a mortgage


Moroccan banks happily offer loans to non residents and encourage foreign investment. Mortgages are available for up to 70% of the purchase price with a maximum length of 20 years. Most mortgages have monthly payments on a variable or fixed rate which vary and currently stand at approx 4%.

To find out more about mortgages,  Apply for a moroccan mortgage or  Go to mortgage rates & criteria in Morocco>

 

Title Deeds registered at the Cadestre Office with detailed information about the size and ownership of the property.

We offer independent mortgage advice, a suitable product recommendation will be based on your own individual circumstances. The interest rate should not be read in isolation, and you should refer to your Mortgage Offers for full terms and conditions. If anything is unclear it should be discussed fully with both your mortgage and legal advisers before entering into a mortgage contract with the lender.

A first charge over your property is required as security for the loan.

The formal mortgage offer of an advance will be subject to a valuation and other satisfactory references.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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©2017 by Cub International

CUB INTERNATIONAL LTD 

Cub International is an international consultancy firm. Established in the UK as a private partnership in 2009.

We have enjoyed steady growth year on year and currently maintain a presence in the UK, (reg. head office) Spain, (EURO Office) and Morocco (MENA regional office) .

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