A well-known principle of French and Romano-Germanic law in general articulates: the buyer delivers the price and the seller, the good. By delivering the property, he must insure the buyer against the risk of eviction. What are called warranties against eviction and latent defects. But much more than that. The principle is general. The individual is exceptional when it comes to a building where the costs of sale begin as soon as the talks.
Significant charges are grafted into the sale of real estate. But contrary to what some think, the seller can limit the breakage. Thus, his bank account preserved at best!
Agency fees
The commercial agent is recognized by law as being a merchant. He is entitled to claim the costs of services. And these charges are the seller’s responsibility. Agencies are free to set the amount of their commission, often in proportion to the sale price. But what is beneficial for the seller is that he does not pay until he has sold his property. In this case, in addition to the choice of the agency, the payment of the costs will be made after the buyer has paid the sale price. In this case, he contributes or even implicitly bears the agency fees. Nothing will be paid until the accommodation is sold.
The agency, on the basis of a simple or exclusive mandate, advertises the property. The costs must be notified in the act of mandate even in the case where these costs are jointly borne by the seller and the buyer.
Other costs related to the sale of real estate exist.
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Other existing costs
First of all, there are notary fees which, of course, are the responsibility of the buyer. These notary fees and related costs are calculated according to the age of the property. They are capped according to a calculated scale serving as a benchmark in this area.
Then come the charges relating to local taxes. These charges refer to property tax and housing tax. In this case, the existence of a variant clause depending on the change of premises cannot be ruled out. The capital gain is not exempt from taxation in certain situations. Others impose the payment of VAT like the sale of new movable property 5 years before its completion date. The seller must bear the co-ownership charges except in the case of an individual dwelling. A compromise is possible between seller and buyer in the context of a co-ownership.
The home insurance contract is transferred to the purchaser who can change insurer if he wishes.
In principle, the parties can adjust their contract by clauses as much as they want. It is the autonomy law that governs in contractual matters subject to respect for public order and the general rules governing contractual obligations.
Read also: What is the role of a notary when selling a home?
