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The Buying Process

Buying A Property in Morocco

In Morocco The asking price for a property is normally very close to the actual selling price. For example if a property is on the market for £35000 it will generally sell for £30000.


Having found your dream property in Morocco the first thing to do is to open a convertible Dirhams account in Morocco in order to be able to transfer the funds from your home bank account to Morocco. To do this you'll need to deposit foreign currency and to show your passport.


The next step is to sign the Compromis de Vente\ Preliminary Contract in the presence of a lawyer or notaire; this will detail all the conditions of the sale at this point a 10% deposit should be paid.

Finally 4-12 weeks later you will sent the Projet de L'Acte/Draft of the Final Contract. This should be checked over thoroughly before proceeding to sign the Acte de Vente/Final Contract. The remaining payment for the property should now be paid along with the notaire/lawyer's fees and estate agent fees. The property payment will normally be paid by banker's draft. Having paid this and signed the Acte de Vente you become the legal owner of the property.

 

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Fees Payable for a Residential Property

Fees vary depending on whether you are purchased a titled property or a property with only Melkia. Those purchasing a titled property will use a notaire to take care of all legal matters of the sale. Those purchasing an older property with Melkia will use the Adoul to process the paperwork. You should budget for a maximum of 6% of the purchase price for titled properties and 4% for Melkia properties.

3% Registration Tax

Adoul/Notaire's fee 1% +7%VAT +0.5% Notaire's tax

£220 Administration costs (approx)

1% to the Conservation Fonciere to transfer title deeds

Estate Agency fees of 3.5% + VAT of the property purchase price. Moroccan Dream Property can inform you of an adoul who would be happy to assist you with the purchase of your property/land.