Real Estate Guide In Morocco : Sell And Buy Property

Real Estate Guide : Step-by-Step Guide to buying Property in Morocco – Step-by-Step Guide to Selling your Property in Morocco

1. Register your interest by contacting a real Estate Agent

Select the property that fit your interest or simply tell your agent about the requirments and he will take care of the choice!!

2. Find the Right Property

Select a short-list of properties you’d like to view and complete the enquiry form so your agent can get back to you on any questions you may have.

3. Inspection Trip: Visite the properties with your agent

If you don’t already live in Morocco, then you’ll need to come over on an inspection trip to view properties.

4. Arrange Your Finances

It is advisable that you start putting your paperwork together so that you can apply for a mortgage. We can help you with this and advise you on the paperwork that will be required by the local banks in order to get a mortgage.

5. Choose your Notiare

A ‘Notiare’ is a conveyancer who will help you with all the legal steps required to purchase your new home. Some developers have certain Notiares that they would require you to use. We work with English speaking Notiares that will help you through all the legal steps.

6. Making an Offer

Once you have carried out the viewings and know which property you want purchase you can make your offer. When buying from a developer prices tend to be fixed and not negotiable. However, a private seller maybe willing to negotiated the price with you.

7 & 8. Exchange of Contract

When buying off-plan you would be required to pay a reservation fee. The exchange of contract is usually after the project has gained some ground and the completion at the end of the project on delivery. When buying an existing property you can either exchange and complete at the same time or over two steps depending on the circumstances and terms and conditions of the sale.

9. Living in Morocco

Whether you’ve decided to live in Morocco permanently or have bought a holiday home here, then you will have done so because you’ve fallen in love with this magnificent country with an amazing natural beauty to be discovered and an extremely friendly people. These pages should help you settle here more quickly and assist you on sorting out more practical issues.

Step-by-Step Guide to Selling your Property in Morocco

1. Accurate Valuation

It is crucial that your property is advertised and marketed at the right price. Our experienced valuers will give you an accurate valuation to help sell your property for the maximum possible price.

2. Instructing the Notaire

Using the right Notaire (Property Conveyancer) will ensure a smooth sale. We work with a number of highly experienced Notaires that are proficient in English and can explain all the legal steps required to help you sell.

3. Marketing Your Property

When it comes to marketing your property, presentation is everything. We’ll help you present your property smartly. We’ll also get all the photography required, write-up the descriptions, put up ‘for sale’ boards and ensure that your property gets all the exposure it deserves.

4. Accompanied Viewings

Our sales agents will accompany any potential buyer to your property. Given that many buyers may have come to Morocco from abroad, we’ll pick them up from their accommodation to chauffeur them to the property.

5. Receiving an Offe

When you receive an offer from a buyer, it is not only the price that is important but also the terms and conditions of the sale. We’ll make sure that the offer you receive is in line with your needs and time scales.

6. Offer Agreed

Once you agree on a price with the buyer and the terms and conditions of the sale, exchange and completion dates must be set with the Notaire.

7. Exchange & Completion

In a similar way to how contracts are exchanged and completed in the UK, in Morocco you can either exchange and then complete in two stages or you can do both at the same time depending on the circumstances of the sale.

8. Transfer of Money Abroad

Once the deal has been done, for most foreign sellers and indeed some Moroccan ones, the final step is to transfer the fund abroad which must be done via the ‘Office De Change’. We can assist you with the logistic of that.

Mortgages in Morocco

At Bastet Marrakech we work with all the major Moroccan banks and can take care of your mortgage application from start to finish.

We help both individuals looking to purchase a home as well as investoring looking at buy investment property including those looking to buy Boutique Hotels and Maison d’Hotes, to get finance from local Moroccan banks.

The criteria for getting Mortgages in Morocco are similar to those set by European and American banks and are open to both Moroccan and Non-Moroccan nationals livining in Morocco or abroad. A number of Moroccan banks have opened offices in major European cities including London, Paris, Brussels and Amsterdam.