Your search for a property has ended. You found what you were looking for, you have made a deal with the seller about price and timing. You fix all details in a sales agreement, and set a date when the deed will pass at the notary’s office.
For many people the profession of notary still holds many secret, while it is a profession as any other one. Vitrine.be makes you familiar with the notary.
Between the signing of the sales agreement and the passing of the deed, the notary has many tasks, no matter how much information the sales agreement contains. The notary will check the land registry information, also checks all ownership data, previous sales of the property, easements, mortgages which may still be active etc. For these reasons it may be interesting to contact the notary before singing the sales agreement.↑ Top
The most important task of the notary is to draw up the notary deed, which counts as the official proof of ownership. He also takes care of the listing in the Mortgage Registry Office. After signing the deed, nobody can seize the property.
Besides these tasks for private sales, the notary is also active in public sales.↑ Top
The public sale is organised, after the necessary publicity, by the notary. Most public sales take place in a centrally located pub, or in some form of public location.
A forced sale of mostly takes place against the will of the owner, for instance in case of bankruptcy. A voluntarily public sale is often chosen as a formula to sell a property quickly, or when hoping to obtain a better price. Selling happens by bidding. However, even when the final bid is made, it does not necessary mean that you have become the owner. The notary may decide that the bid is not high enough, and may set a second day of sitting.
Don't get carried away by the athmosphere during bidding! You may end up paying too much. Determine a maximum bid for yourself, which you will not cross. For both seller and purchaser, the following is applicable: both parties should be present. Also don't forget that the costs of a public sale are higher!↑ Top
Visit www.notaris.be for a detailed overview of all notary fees and taxes when buying a property.↑ Top