What help can the notary provide during a real estate transaction?
Your property search has been successful, and you and a reliable seller have now signed a preliminary sales agreement. All that remains is for you to finalize the deed of sale by going to a notary. But does this person only have this responsibility? More precisely, how can he help you? Find out what a notary does and how he fits into the real estate process.
Ensuring the property is authentic and of high quality
Is the seller the legal owner of the house, or is it subject to a mortgage? Any debts that don't show up on your credit report? An unfinished rental contract?
In any case, the notary will verify everything. He officially guarantees that the real estate transaction will go smoothly.
In addition to dozens of other legal and fiscal points, he will also check the consistency of the real estate diagnoses, especially the one on energy performance. He will find the slightest flaw and will make sure that you are informed of it.
If there is nothing to report, on the other hand, you can rest assured that the transaction will be concluded without any unpleasant surprises.
He will guide you through the steps of closing a sale
Once these details have been taken care of, the notary will draw up the notarial deed.
This is the last step to finalize the real estate transaction. Even if the signature of a preliminary sales agreement represents a serious commitment on the part of both parties, it is only the first step in the conclusion of a purchase.
Therefore, the notary takes care of everything necessary to conclude the sale on your behalf, including filing the deed with the proper authorities and making the necessary payments.
In addition, the notary will determine the official status of the property. What is this for? Well, it's an essential piece of evidence to show that a particular date and specific parties have completed a particular real estate transaction.
This way, you won't have to deal with as many problems later on.
During a real estate transaction, the notary gives you sound advice
It goes without saying that a notary is indispensable for every home buyer.
In Luxembourg, there are still 36 notaries in total. They are personally appointed by the Grand Duke and are subject to extensive regulations for the exercise of their profession.
You can rely on your notary to give you competent advice on any question you may have. When exactly should a purchase be made? What to do if the notary discovers a mortgage?
Remember that the notary is impartial and cannot be influenced by either the buyer or the seller. For this reason, the services of a single notary are sufficient for both parties.
Thanks to your new knowledge of the notary's functions in the Grand Duchy, you can consult him in all confidence for any legal question. Do not hesitate to ask him questions, he is there to answer you in the most impartial way possible.