www.OverseasGuidesCompany.com
Tel : +44 (0)207 898 0549
 Archive
March 2012  (1)
February 2012  (1)
December 2011  (1)
October 2011  (1)
August 2011  (1)
June 2011  (1)
May 2011  (1)
April 2011  (2)
 Countries
 Testimonials

    "The Overseas Buying Guide is an excellent document - clear, concise, easy to read, and very useful. I particularly liked the property detail sheets - very useful when snagging etc."
    Many thanks.


    "Dear Kim, Thanks to your top tips we asked our developer if he had an insurance bond and to our surprise he did not...We quickly pulled out of the deal and found a developer that would be able to return our money if they went bust. We absolutely loved the property analysis and financial sheets - they truly helped us to decide on our future property. "
    Thanks for the guide!  Sally &Tom R



The role of a notary

When buying a property in most European countries you will need the services of a notary. Notaries are legally trained representatives of the government whose role is to oversee and rubber stamp property transactions. This will include witnessing the signing of contracts and checking both parties adhere to the law and pay the correct taxes. Typically, notary fees will be fixed by the government, so be the same throughout the country.

In the UK notaries are not involved in property transactions. Instead the buyer and vendor appoint their own solicitor, whose sole interest is that of their client. When buying abroad, it is wise to adopt this approach, so pay for an independent solicitor to look after your own interests, complementing the more neutral role of the notary.

In some cases it is possible to have two notaries – one chosen by the vendor, the other by the buyer -  working on a property transaction although normally it is just one. During a property sale, the notary ensures that all the proceedings comply with local property law. Whether the property is bought direct through a notary or through an estate agency, a notary still has to oversee the legal aspects of the sale.

The notary will assist all parties to make sure that the process of selling the house runs smoothly. He is also responsible for receiving all contracts and checking their authenticity as well as carrying out the Land Registry searches.

The notary will be responsible for checking that there are not issues with the property at the time of sale which could affect the price of it. If there is a mortgage already on the property, then the notary must contact the bank and request the mortgage deeds. The sale may not be completed until the notary has collected all this relevant information.

On completion day it is normal for the notary to read aloud the contract to both the seller and the buyer and also to note any amendments as and when they may arise. Your independent lawyer should also be present. The money is then given to the estate agent and the notary will instruct that the keys are handed over.

Once the sale has been completed the notary will be responsible for registering the new deeds with the Land Registry. You can ask for a copy of the signed deeds on the day for peace of mind as the official documents with your name on can take up to two months to come through. The Land Registry will put your name on the deeds once they have been sent by the notary and this will be proof that you own the property.


Start your hunt for a home abroad here…
If you’re searching for an overseas property, a good place to start is the Overseas Guides Company’s new property search facility. To start your search now visit http://www.emigrationguide.com/content/emigration-properties

 Jobs | Affiliates | Contact Us | Press | Resources |