Monaco Sales Guide

PROCESS OF BUYING A PROPERTY IN MONACO

Upon receiving your inquiry, we carry out a thorough search to identify the ideal property that best matches your criteria.

Once you have identified a suitable property in Monaco, the next step is to prepare a written purchase proposal and agree on the terms. This proposal typically includes a detailed description of the property, the proposed purchase price, and the expected completion timeline, which generally ranges from two weeks to two months. To demonstrate commitment, purchase offers in Monaco are usually accompanied by a cheque for 10% of the purchase price, which serves as a deposit and is cashed once the offer is accepted.

THE BUYER’S OBLIGATIONS

Buyers are responsible for legal, transfer, and registration fees, which typically range from 6.25% to 10.25%, as well as an agency fee of 3% plus VAT, payable upon completion of the transaction. Once the Purchase Proposal is accepted and supported by a cheque, it becomes a legally binding document. Should the buyer decide to withdraw from the transaction, the deposit is forfeited.

In certain cases, completing the sale requires two visits to the notary. The first visit typically involves signing a Preliminary Agreement, especially in more complex transactions, while the second visit finalizes the sale with the signing of the Final Act.

THE PREPARATION OF PROPERTY DEEDS

The Monégasque government requires that property notaries prepare the Final Deed and carry out all necessary property searches.

The notary’s responsibilities include verifying the legal capacity of all parties involved, conducting thorough property title searches, checking for any issues that could affect the property’s value or enjoyment, and ensuring that no existing mortgages or charges are attached to the property.

COMPLETING A PURCHASE

Completion depends on the local authorities providing the notary with all necessary information. If an existing mortgage is in place, the notary will liaise with the issuing bank to prepare the mortgage deed.

During the final visit to the notary, both the seller and buyer review the deed, agree on any necessary amendments, and finalize it. The buyer pays the remaining funds, after which the notary instructs the estate agency to hand over the keys to the new owner. The notary also settles any outstanding claims and disburses the remaining balance to the seller once the full purchase price has been received.

POST-SALE

After the sale, the notary registers the title deed with the Land Registry and provides the new owner with a copy, which serves as official proof of ownership—typically around two months after completion.

Both parties are free to choose their own legal representative for the property purchase, and the buyer is under no obligation to use the seller’s notary.

START YOUR PROPERTY SEARCH

You can contact one of our agents for a free consultation to learn more about buying property in Monaco. We can also assist you in making an informed decision if you are interested in a specific property, whether listed on our website or another platform. If you haven’t yet found the right match, we can conduct a search on your behalf and provide access to exclusive off-market properties as they become available.

Get in touch by filling out our contact form, and we will respond promptly once we receive your request.