For several years now, Morocco has put in place measures to facilitate and secure real estate investment by foreigners, without the need for them to reside in Morocco.
In order to take advantage of these incentives and facilitation measures, it is however advisable to be well accompanied in the acquisition process.
If the legal status does not imply any restrictions, the notary will draw up a “compromis de vente”, which is a preliminary contract combining the agreement of the seller and the buyer on the given property and their common will to complete the sale. The compromise does not require the parties to be present at the notary’s office to sign it. It can be sent to the home of the buyer, who has two weeks to sign it or withdraw and send it back to the notary.
When signing the preliminary sales agreement, it is customary to pay a deposit of around 10% of the purchase price of the property. They are paid directly to the notary at the signing of the preliminary sales agreement, who will keep them on the escrow account of the firm (at the CDG, in Morocco). These deposits will be definitively lost by the buyer in the event of non-fulfilment of his obligations (non-suspensive). It should be noted that financial penalties may also be imposed on the seller if he fails to comply with the obligations set out in the preliminary sales agreement.
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