Notary fees include the different amounts this professional collects, the largest portion of which is on behalf of other people.
Notary fees are regulated and are not negotiable. Although it is generally the Notary of the seller who draws up the deed of sale, we strongly recommended bringing your own Notary, especially since there are no extra costs involved.
Notary fees can be broken down into several components.
- The actual professional fees or emoluments of the Notary.
- The disbursements, which correspond to amounts the Notary pays in advance to put together the folder (Land Titles office, Mortgage Registry, stamps, etc.).
- The fees and taxes paid to the Treasury (salary of the mortgage registrar, tax for publication of rights, etc.).
Each formality is subject to a specific rate, but as each sale is unique, it is often hard to precisely calculate what Notary fees will be. They are paid by the buyer on the day the deed is signed.
A When the final copy of the official deed of sale is sent (about 6 months after signing), the Notary provides the buyer with an accurate description of the fees, possibly accompanied by any residual sums for overpayment of fees.
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