In your search for property in Monaco, our agency is by your side to guide you through your decision. We advise you at every stage of the purchasing process.

A Streamlined Acquisition Process

Entrusting your project to our team of experts will simplify the process of buying your property. You need only provide us with the following:

  • your requirements: rental or asset investment, or intended use (residential/professional)
  • your budget for this project
  • whether you are coming as a family, alone, or as a couple
  • whether you have a preferred neighbourhood
  • any information you consider relevant to enable us to support your project as effectively as possible

Armed with all of this information, we will present you with properties available through public sale, as well as those whose sale is far more discreet. This is precisely where our value lies as a local agency with a thorough command of the market. Our partners keep us informed of off-market opportunities — a segment of the property market that features neither in agency windows nor on the real estate websites dedicated to Le Rocher.

We will visit with you the properties that have caught your attention and help you assess their true value. We will conduct negotiations with the seller on your behalf, under your supervision and in accordance with your price expectations.

Once an agreement has been reached, a purchase offer will be drawn up by our team. On this point, we draw your attention to the fact that any acceptance of the offer countersigned by the seller constitutes a definitive commitment. Only the conditions precedent mentioned in the purchase offer could then release you from the contract.

We ensure that the purchase offer includes all mandatory legal conditions:

  • the identity of the buyer, verified against documentation,
  • a clear description of the property being acquired,
  • the sale price of the property and the payment method you have chosen,
  • the validity period of the purchase offer,
  • the charges and conditions applicable to the sale,
  • the well-known conditions precedent, which may take the form of works to be carried out, or financing to be obtained, and which must be fulfilled within the agreed timeframes,
  • the various fees and commissions applicable to the purchase of your future property,
  • finally, the deadline by which the notarial deed must be executed between the seller and yourself.

Once the offer has been duly accepted, we can lodge your deposit cheque with a notary in the Principality. You may also proceed with a bank transfer directly to the notary's office account, within 48 hours. The purchase offer will then be accepted and neither you nor the seller will be able to withdraw.

Do I Need to Draw Up a Preliminary Sale Agreement?

A preliminary sale agreement (compromis de vente) is not a mandatory instrument in Monaco. Nevertheless, it is safer to draw one up if you are purchasing your property by means of a bank loan, or if the property may be subject to pre-emption by the State.

Indeed, the Principality of Monaco reserves the right to pre-empt immovable property whose construction predates 1947. The administration then has a period of 30 days, running from the signing of the compromis, to substitute itself for you in the acquisition process.

How Does the Handover of Keys Work?

The signing of the notarial deed takes place at the offices of a notary in the Principality. A landmark moment in your purchase, your signature on the deed gives it the force of res judicata.

The date of signing marks the beginning of your new status as owner of the property. It is at this moment that the keys are handed over to you. But beforehand, you must settle the notarial fees associated with the acquisition of the property:

  • The purchase of a new property or one in a future state of completion requires the payment of fees amounting to 2.5% of the total value of the property.
  • Should you purchase the property as a private individual, or through a civil company registered in the Principality, fees are set at 6% of the property's value.
  • A purchase made on behalf of an offshore or foreign company gives rise to fees amounting to 7.5% of the total value of the property.
  • Finally, life annuity sales (viagers) are subject to fees amounting to 6% of the estimated value of the bouquet, plus the equivalent of 10 years of annuity payments.

In addition, agency fees are set by the Monegasque real estate chamber's schedule at 3% excluding tax for buyers, calculated on the purchase price; these must be settled no later than at the time of signing the notarial deed.

You are now in possession of the keys to your new property. Should it be a property intended for rental, we can also assist you with the management of your rental.

Sources:

  • https://service-public-particuliers.gouv.mc
  • Loi n. 1.381 du 29/06/2011, relative aux droits d'enregistrement exigibles sur les mutations de biens et de droits immobiliers, section II, Des droits d'enregistrement et d'hypothèque.
  • Ordonnance n. 1.016 du 04/11/1954, fixant les modalités d'exercice du droit de préemption insitué par l'article 28 de la loi n°580, du 29 juillet 1953.
  • https://www.legimonaco.mc