Title search at the Service des Domaines
Agency: Land Registry (Service des Domaines)
Parties should conduct a search of the title at the Service des Domaines to check the ownership and any encumbrances or liens.
Time and cost: 4 days, no charge
Buyer and his topographer visit the property to survey and see that the title description matches the property
Agency: Topographer
This is not a mandatory Procedure, but it is standard practice for buyers. Topographers are in high demand, which accounts for the delay. They are often hired from the Service des Domaines. During the survey, the topographer and buyer may also consult with the neighbors of the property to verify the owner and limits.
Time and cost: 21 days, KMF 40,000 (Around KMF 40.000 (Topographer fees))
Draft and notarize the sale purchase agreement
Agency: Notary
The contract can be written by anyone. The parties can write it themselves if they want, but companies commonly hire a lawyer to draft it. The sale and purchase agreement should be notarized before registration.
Time and cost: 4 days, KMF 1,261,392.24
Official notary fee:
- Up to 1,000,000: fixed fee off 50,000 KMF
- 5 %: Transaction 1,000,001 – 10,000,000 KMF
- 4 %: Transaction 10,000,001 – 20,000,000 KMF
- 3 %: Transaction 20,000,001 – 30,000,000 KMF
- 2 %: Transaction 30,000,001 – 40,000,000 KMF
- 1 %: Transaction 40.000,001 – 50.000,000 KMF
- 0,75 %: Transaction over 50.000,001 KMF)
Register the sale purchase agreement with the Service des Domaines
Agency: Land Registry (Service des Domaines)
The Service des Domaines will record the transfer in their books and officially change the name on the existing title to that of the buyer.
Time and cost: 1 day, KMF 915,044.18 (10000F transfer tax + 3% of the property’s value as a tax of publication + 32000F registration fees + 500F per page stamp duty (4 pages))
