Buying property in Morocco

Yes a foreigner can buy property in Morocco. Many of the properities in Marrakech for example are owned by French citizens. That's why Marrakech real estate is uo the roof.
The first step to buying property in Morocco is to choose your property and then secure it by paying the “holding deposit”.
At this stage, it is wise to appoint a lawyer who is fluent in your language so you fully understand all the legalities and exactly what is happening.
You will then be expected to sign a 'Sale contract' in the presence of a notary. You will then be required to pay the full amount due before completion (usually 40%).
When the property is ready for occupation, you and the developer will sign the transfer of property and you will then be required to pay the remainder of the price (60%), the stamp duty and other fees, including notary fees.
At this stage temporary certificate of ownership will be issued by the notary and when all the paperwork and legal requirements are completed, the title deeds will be issued, (this normally takes a couple of months).
Taxes & Fees Payable on a property purchase
Land registry fees: 1%
Registration fees: 5% if property is sold within 5 years, 3% after that period
Notary fees: 1% to 2% (based on the purchase price and set on a sliding scale, these fees are levied at the Notary and paid to the relevant Government department or Local Authority)
Notary tax: 0.5%

Hi shak4969!

Thanks for your help

Armand

Anytime

I was reading the blog about purchasing real estate (houses) in Morocco. I am interested in purchasing a home in Fes. Could any one speak to which financial institution are best to open an account with? Preferable online. I figure it would be good to have an account to establish credit history in order to apply for a mortgage loan.

Thank you,

the banking system is  very backward here society generale i have found to be good for me

Hi
Sure i think there's no problem at all.

If you want a website of buying prtoperties annonces i can tell you between particulares: Marocannonces com

When you buy the notary is responsible for checking the act of the property from A to Z and you have not to worry at all.

Even for the fees for registring the act of the property and the fees of the notary are not expensive and much cheaper comparing them with the other european countries.
If you need any other help you're welcom.
I wish you good luck

Hello

The best bank establishement for me and where is my account is Banque populaire.
I find it the best because it's every where when i turn right or left i find a popular bank agency with an automatic stop and that's important.
Beside that there are no so much fees to pay for the account management.
Welcome i wish you a good luck

Thank you I will contact them to see if they will open accounts with individuals overseas.

Quick question regarding the final payment
For buying property
Can I wire transfer the last payment to a Escrow account  Translation in French account séquestre
Philippe

Hello!! any one know how long does a certificate of no impediment valid for, to use in Morocco for wedding? And is it  valid from the date of the issue or from the date of application?
Thank you
               Kind regards!!

Hello
Can you make a final payment on a property with wire transfer
Philippe

Hey Shaq
What's the process when are closing on the property or final payment
Do you have to write a check or can you wire transfer payment
Philippe Blin

Soukaynasadik96 wrote:

Hello!! any one know how long does a certificate of no impediment valid for, to use in Morocco for wedding? And is it  valid from the date of the issue or from the date of application?
Thank you
               Kind regards!!

3 Months and depending on the nationality of the person trying to obtain this document you might not require it. For example British Citizen does not need a CNI instead at the embassy appointment they will give you a Affidavit and nationality verification certificate. Which is the only two documents you need from this section.

However all documents are valid for 3 months from the date issued. All documents submitted to court cannot exceed 3 months from the date of submitting.

pblin1956 wrote:

Quick question regarding the final payment
For buying property
Can I wire transfer the last payment to a Escrow account  Translation in French account séquestre
Philippe

Hi usally funds are held in your own account and the notary would accept the funds to complete the transfer. Unless something else has been agreed otherwise.

What i did was have the funds in my Banque Popular account and then asked the branch to issue me a Bank Cheque the bank would debit my account and they would give me a Gurentee Cheque to give to the seller as its as good as cash/transfer.

Technically, you can do a wire transfer but it does not clear same day and most people shy away from this if they haven't done the DD correctly to prevent any fraud or mistakes.

Hope this helps. IF your in Marrakech i can recommend a brach that can help for future transaction and guiding in the correct safe way.

Salam everyone,

I am looking for an apartment to rent around jadida, preferably oualidia, anyone has any advice or a broker or agency or website i can go to pls, thx.

Karima Elou wrote:

Salam everyone,

I am looking for an apartment to rent around jadida, preferably oualidia, anyone has any advice or a broker or agency or website i can go to pls, thx.

Hi, is it long term or just for vacation?

Avito has listing but a lot of the time you can easily find an apartment when your in the city as these two cities are popular location for vacation so you find people dangling keys by the road offering you apartments for rental - mainly short stay.

if your looking for long stay look on avito that should help hopefully.

Vakil wrote:

Karima Elou wrote:

Salam everyone,

I am looking for an apartment to rent around jadida, preferably oualidia, anyone has any advice or a broker or agency or website i can go to pls, thx.

Hi, is it long term or just for vacation?

Avito has listing but a lot of the time you can easily find an apartment when your in the city as these two cities are popular location for vacation so you find people dangling keys by the road offering you apartments for rental - mainly short stay.

if your looking for long stay look on avito that should help hopefully.

Hi Vakil,

I have been reading your posts, appreciate your help.

I am looking for a long term rental, and yes you right that's what i heard that ppl will just dangling keys by the entrance of the town or city.

Currently in Casa, i will probably hit the road to Jadida and oulidia to see for myself.

Thx

Karima Elou wrote:

Vakil wrote:

Karima Elou wrote:

Salam everyone,

I am looking for an apartment to rent around jadida, preferably oualidia, anyone has any advice or a broker or agency or website i can go to pls, thx.

Hi, is it long term or just for vacation?

Avito has listing but a lot of the time you can easily find an apartment when your in the city as these two cities are popular location for vacation so you find people dangling keys by the road offering you apartments for rental - mainly short stay.

if your looking for long stay look on avito that should help hopefully.

Hi Vakil,

I have been reading your posts, appreciate your help.

I am looking for a long term rental, and yes you right that's what i heard that ppl will just dangling keys by the entrance of the town or city.

Currently in Casa, i will probably hit the road to Jadida and oulidia to see for myself.

Thx

Your more than welcome. Keep safe, the costal drive to Oulaida is amazing if you decide to take that route. Long term rental might be better to go visit as you said and negotiate the price when your there. off peak season you can get a better price. However with covid not sure if people are given good prices anymore or not. During holiday season people try to avoid renting for long term as they make more money on daily bases. Either way just be careful and make sure you take a contract that your happy with and became with who you deal with as there are a lot of agents that mislead people also especially during the covid times.

Have safe travels and if you need any more help don't hesitate to ask.

Hello
Thank you for your help
What's the meaning of DD please
Philippe