How to calculate notary fees in the former?

You are looking for an apartment or a house to buy in the old one. Have you included the cost of notary fees in your forecasts? These can be expensive, especially in older buildings. What are the fees and taxes to take into account? How to estimate and calculate them? Is it possible to lower them? Focus on notary fees in the old.

Capital Video: How to calculate notary fees in the former?

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What is considered old housing?

For the purposes of tax law, old housing is a building, apartment or house, having been built more than five years ago (article 257 of the General Tax Code). But the age of a home is also characterized by the change in the property: thus, a house or apartment passed on by donation, by inheritance or transferred as part of a sale is no longer a new home, little matters its date of construction.

Who must pay notary fees in the old building?

It is the buyer, also called the purchaser of the property, who must pay the notary fees. This responsibility always falls on him, whether the accommodation is new or old. Payment of fees occurs at the time of signing the authentic deed of sale before the notary.

Good to know : pay attention to sales offers which publish a net seller price: this is the price required by the owner of the property in order to complete the sale on his side. But this is not what the buyer will ultimately pay. He must add the notary fees, but also the fees of the professional responsible for the sale of the property.

What are the notary fees to plan for a real estate purchase in an old property?

Fees in the old order of 7 to 8%

Overall, the amount of notary fees in the former corresponds to an estimate based on the value of the property, generally around 7 to 8%. There is a difference in amount between notary fees in old and new buildings. These are usually around 2 to 3% of the price of the property. If we go into detail, the calculation of the amount of notary fees includes different elements, duties, taxes and emoluments.

Transfer taxes

Mainly, there are transfer taxes. They alone represent between 5 to 6% of the total costs. More important in old buildings than in new buildings, their amount varies depending on the location of the property. These are taxes intended for the State or local authorities. It is therefore necessary to differentiate between the majority of the costs made up of the sums that the notary pays to the Public Treasury and those allocated to his own remuneration.

Notary fees (variable rates depending on the price of the property)

Then there are the notary’s fees. They correspond to the sum received by the notary in return for the execution of the authentic deed of sale. These are set according to a scale provided for by decree (articles R.444-2 et seq. of the Commercial Code, decree no. 2020-179 of February 28, 2020 relating to regulated rates applicable to certain legal professionals). Here are the different rates:

• 3.870% for a property with a value of less than 6,500 euros
• 1.596% for a property whose value is between 6,500 and 17,000 euros
• 1.064% for a property whose value is between 17,000 and 60,000 euros
• 0.799% for a property whose value is greater than 60,000 euros.

The amount allocated to fees represents on average 10% of the entire notary fees.

Property security contribution

In addition to these fees, there are still some miscellaneous costs to pay, including those relating to the publication of the sale (disbursements and advertising costs). In this context, a tax is due to the land registration service: the real estate security contribution. It is set at a proportional rate of 0.10% of the price of the property, with a minimum of 15 euros.

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How to calculate the amount of notary fees for an old home?

Calculate from the sale price of the property

You just need to carry out several simple operations based on the sale price of the property by applying the emolument rate applicable to each price bracket of the property. Then add an amount corresponding to disbursements and publication costs. Finally, we must not forget the amount of taxes and transfer duties. The applicable rates can be determined based on the geographic location of the property.

Obtain an estimate of costs from a notary

You can also use a notary who can establish an estimate based on the information provided to him.

Calculate costs with Anil simulation

The national agency for housing information (Anil) provides future buyers with an online simulator to calculate notary fees.

Simply indicate:

• the type of transaction (purchase of old or new housing or land),
• the location of the old property,
• the department of ancient property,
• the amount of the purchase.

At the end of the simulation, we obtain the details of the notary fees:

• Fees including tax for the notary,
• duties and taxes,
• formality fees and disbursements,
• real estate security contribution.

What are the notary fees for the purchase of a house or apartment in the old building for 400,000 euros?

Here is an example of calculating notary fees for the purchase of a house for 400,000 euros in the Paris region (Val-de-Marne – 94):

• Amount of Notary fees: 4,311 euros
• Duties and taxes: 23,226 euros
• Disbursements, publication costs (range): 1,360 euros
• Property security contribution: 400 euros

Total (high range): approximately 29,298 Euros

How to reduce notary fees in old buildings?

There is no miracle to reduce notary fees in old buildings, but several options remain possible.

Negotiate notary fees

The buyer is entitled to negotiate a reduction in the price of the notary’s fees. The latter can in fact make a gesture, particularly in the event of a plurality of sales and cases entrusted to his study. However, the discount is only possible if the purchase price of the old property exceeds 100,000 euros and the notary decides to apply the same reduction to all of his clients. The maximum trading rate is 20%.

Buy a cheaper property or subtract the value of the furniture from the sale price

Other possibilities for reducing notary fees in the old property, buying a property less expensive than expected or subtracting from the sale price the value of the furniture and household appliances present in the accommodation.