Buying a house without a mortgage

When you proceed with the purchase of your first home, various expenses must be incurred at the time of the deed, from notary fees for mortgage and sale deeds to taxes, the amount of which varies according to certain parameters. It is important to consider that in the presence of certain requirements it is possible to obtain significant savings. Let’s clarify

The notary fees for the deed of sale and the mortgage deed

Preliminary, deed of sale and deed of stipulation of the loan require the intervention of a notary , whose cost is commensurate with the price of the property indicated in the deed and the value of the mortgage that will be registered on it to guarantee the loan, generally equal to twice the amount of the loan requested. Consequently, the notarial fees increase with the increase in the value of the property and the amount of the loan, but they can also vary according to the professional. To save money, therefore, it is always advisable to request more estimates before choosing the notary for the deed.

Those under 36 with an ISEE not exceeding 40,000 euros can benefit from a 50% reduction in notary fees, while those who opt for the calculation of taxes based on the revalued cadastral income rather than on the sale price declared in the deed (so-called price/value discipline ) can access a reduction of the notary fee of 30%.

In deeds of sale of real estate , the task of the notary is first of all to verify that the right of ownership of the property – which with the sale is transferred to the new buyer – is fully owned by the seller . The Notary then ascertains the freedom of the property given as collateral from mortgages or other constraints (foreclosures, easements, etc.), which can be an obstacle to the sale and to the bank’s mortgage registration.

For this reason, the Notary must carry out the so-called preliminary checks , searches (mortgage searches) at the real estate register office and checks of the regular registration of the property and the absence of building violations.

The real estate verification concerns the last 20 years of the legal history of the property : the term of 20 years is not accidental as the civil code establishes that after 20 years the usucapione accrues.