Buying immovable property is one of the biggest decisions families face. Firstly, because the property will provide their living environment for several years and, secondly, because it represents a considerable financial investment.
This is why the law often gives exclusive competence to notaries to draw up sales contracts for real estate and monitor the legal certainty of transactions: neither the buyer nor the seller should commit lightly. They both need impartial advice from a notary, who is a real estate specialist and who, in authenticating their final agreement, will give it probative value and enforceability in addition to the legal certainty corresponding to the importance of the transaction.
In this context, the principles of high quality legal certainty are essential for consumer protection but also in the interests of the State, as real estate transactions are at the core of our society.
Many players are involved in real estate such as experts, bankers and the State itself. Notaries, at the heart of the process, facilitate and organise their involvement. They gather together the necessary preliminary information and expertise, where required, draw up a loan document and in most cases conduct the subsequent formalities. These include registration in the public registers, collection and payment of taxes and the final issue of the ownership deed to the purchaser. In many countries, they act like a one-stop-shop.