Real Estate Buying Guide: Steps, Costs, Documents & Tips
This comprehensive guide explains how to buy property in Morocco, the steps to follow, the actual costs to anticipate, required documents, and mistakes to avoid to ensure a secure purchase.
What are the steps to buy property in Morocco?
Buying real estate involves several steps: define your budget, search for the property, verify the land title, sign a preliminary contract, finalize the deed at the notary, and register the property at the Land Registry.
- Define budget and project
- Search and property visits
- Legal verification of the property
- Preliminary sale contract (Compromise of Sale)
- Final signing at the notary
- Land registration
Why buy property in Morocco?
Purchasing property allows you to secure your assets, take advantage of a dynamic market, and benefit from rental investment opportunities, especially in major cities like Casablanca, Rabat, Tangier, and Marrakech.
- Growing real estate market
- High rental demand
- Stable legal framework for titled properties
- Purchase allowed for foreigners (except agricultural land)
What are the costs of buying property in Morocco?
Buying property in Morocco usually involves costs of around 7% to 10% of the property's price. These include registration tax, land registry fees, notary fees, and administrative costs.
| Cost Type | Estimated Amount |
|---|---|
| Registration tax | ≈ 4% |
| Land registry fees | ≈ 1.5% |
| Notary fees | 1% to 1.5% + VAT |
| Administrative fees | Variable |
| Agency commission (if applicable) | 2% to 3% |
Which documents are required to buy property?
To buy property, the buyer must provide an ID, tax number, and proof of financing. The property must have a valid land title and up-to-date legal certificates.
Buyer documents
- National ID card or passport
- Tax identification number
- Proof of financing
Property documents
- Land title
- Ownership certificate
- Certificate of no mortgage
- Cadastral plan
Can a foreigner buy property in Morocco?
Yes, foreigners can freely buy property in Morocco, provided it is titled. Purchasing agricultural land is subject to specific rules and special authorizations.
How to finance a property purchase?
Property purchases can be made in cash or through a mortgage granted by a Moroccan bank. Banks usually require a personal contribution, especially for non-residents.
Cash purchase
Buying in cash is common and reduces delays and administrative constraints.
Mortgage financing
Interest rates vary by bank and buyer profile. A significant personal contribution is often required, especially for MRE (Moroccans living abroad) and foreigners.
What are the common mistakes to avoid?
Frequent mistakes include buying untitled property, underestimating additional costs, neglecting legal verification, and signing a preliminary contract without protective clauses.
- Buying untitled property
- Underestimating purchase costs
- Not consulting a notary
- Paying outside official banking channels
Average timeline for buying property
The average time to buy property is between 2 and 4 months, depending on the complexity of the file, the type of financing, and administrative processing speed.
Practical tips for a successful property purchase
- Always verify the land title
- Compare several properties and neighborhoods
- Plan a budget including all fees
- Work with an experienced notary
FAQ - Property Purchase in Morocco
Is a notary required to buy property?
Yes, signing the deed must be done before a notary or an adoul to ensure the legal validity of the transaction.
Can I buy property without a land title?
It is strongly discouraged to buy untitled property, as it exposes the buyer to significant legal risks.
What is the minimum down payment for a mortgage?
The minimum down payment depends on the bank and buyer profile. For non-residents, it can reach 40% to 60% of the property price.
Are notary fees negotiable?
No, notary fees are regulated and generally non-negotiable.
Conclusion
Buying property in Morocco is secure when properly prepared. By following legal steps, verifying documents, and anticipating all costs, you maximize your chances of a successful real estate investment.