All you need to know about notary fees when buying property in Switzerland.
What are notary fees?
Notaire's fees are the fees that you, the buyer, must pay for drawing up and certifying the deed of sale, transfer duties (tax on property transactions) and the costs of setting up the mortgage guarantee.
How are notary fees calculated?
These fees are generally calculated based on the purchase price of the property and the amount of the guarantee to be issued. In Switzerland, notary fees vary depending on the canton you buy the property. As a rule, notary fees represent 5% of the purchase price.
What do notary fees cover?
Notary fees cover the costs associated with drawing up and certifying the deed of sale. These costs may include:
· Drawing up the deed of sale
The notary must draw up the deed of sale, an important legal document that describes the terms and conditions of the sale.
· Verification of ownership
The notary must check that the property belongs to the vendor and that no legal or tax problems are associated with the property.
· Deed of sale certification
The notary must certify the sale deed by affixing his seal and signature. This certification is necessary because it attests to the authenticity of the deed of sale.
· Setting up a mortgage guarantee
The financial institution requires a mortgage guarantee of at least the amount of the mortgage loan granted.
· Transfer taxes
Transfer duties are a property tax designed to transfer property ownership from one person to another.
How do I choose a notary in Switzerland?
In Switzerland, you can choose your own notary to handle the sale. However, selecting a qualified and experienced notaire is important to ensure the sale goes smoothly and under the best possible conditions. Ask your estate agent, friends, and family for recommendations or speak to one of our wealth advisers.
How can you minimise notary fees?
It is impossible to minimise notary fees, but there are ways to reduce them. For example, you can negotiate with the seller to give you the existing mortgage guarantee (mortgage certificate) free of charge or at a lower cost. You can also choose a notary who offers lower fees or ask for quotes from several notaries to compare prices.