A Guide to Buying Property in Morocco
Morocco is a fascinating country and is a completely different world to the UK. As it is only a three hour flight from the UK it has become an extremely popular holiday destination and more recently a popular place to buy investment property and homes.
Morocco is probably most famous for its bustling cities and towns with huge markets where you can really get a good deal if you know how to haggle! The wonderful towns and cities are complimented by the relaxing white sandy beaches which rival beaches in some of the most popular destinations in the world.
Morocco has coasts on the Mediterranean and Atlantic oceans and these beaches are all clean, beautiful and relaxing. You can buy traditional homes here as well as modern apartments and townhouses in the cities.
The Moroccan Property Buying Process
The first step is to find a notaire – in Morocco the notary plays a huge part in the purchase of property. For a resale property you are looking at paying a deposit of about 10 percent whereas off plan properties usually require a 40 percent deposit. After a verbal offer you will sign the preliminary contract which is when the deposit is required.
Remember that a notaire will not give you any legal advice so you may need a solicitor as well. One issue for resale properties is that the vendors’ entire family has to agree to the sale of the property so you could be waiting a while for the notaire to obtain the deeds to the property. Otherwise, with new homes it is a relatively straightforward process.