Real estate transactions, inheritances, wills and legal advice all require the expertise of a notary, who plays a multifaceted role in these areas. However, this expertise comes at a price.
In this article, we will outline the approximate fees you may encounter for notary services. Please note that these prices are for informational purposes only. That being said, let’s dive in!
Real estate transaction: how much does a notary charge?
A real estate transaction involves several important stages to ensure a smooth process for all parties involved. In addition to real estate brokers, notaries are key professionals in the process, which is why their services come with a fee.
The total cost typically included two types of fees: the notary’s fee and the administrative fee.
The notary fee
When buying a single-family home, you can expect a minimum notary fee of around $1,200 to $1,500. Since notary fees can vary, it’s a good idea to compare quotes from multiple professionals.
Administrative fee
The administrative fee typically ranges between $450 and $500, regardless of the property’s value. This amount covers expenses related to processing your file, such as the cost of registering your file with the Land Registry.
Who pays the notary's fees?
In real estate transactions, who covers fees can differ between buyers and sellers. Generally, the buyer pays most of the notary fees, including those for preparing and registering documents. However, there are situations where the seller might also bear some costs, such as those related to preparing documents for the sale.
Is it mandatory to use a notary for a real estate transaction in Quebec?
Yes, in Quebec, it is legally required for documents related to real estate transactions to be signed and validated by a notary. This requirement applies to the purchase and sale of all properties.
Who chooses the notary: the seller or the buyer?
Typically, the buyer chooses the notary who will oversee the transaction. While the notary is required to remain neutral, it is important for the buyer to ensure their interests are protected, especially if they owe a balance to the seller.
In cases where the property is a new condominium, the seller may choose the notary. Other scenarios may vary and are handled on a case-by-case basis.
If a conflict of interest arises, the notary must disclose it to all parties involved. The buyer and seller can then decide whether to continue with the same notary or not.
What is the role of the notary during a real estate transaction?
The notary plays an essential role in ensuring the validity of all documents involved in the transaction. They receive and review various documents such as:
- Title deed
- Certificate of location
- Municipal tax statements
- Marital status documents
The notary checks these documents for any irregularities to prevent potential issues that could complicate the transaction. Additionally, the notary is responsible for:
- Cancelling any invalid mortgage.
- Preparing the new mortgage.
- Coordinating with financial institutions.
- Drafting the deed of sale.
- Registering the deed of sale in the Land Registry.
- Ensuring that all documents are signed by both parties involved.
Notary fees in non-real estate matters
In addition to notary fees for real estate transactions, let’s explore the costs associated with notarial services in other contexts.
How much does a notarized will cost?
In Quebec, the notarial will is one of the three types of wills recognized and is the most common choice. The cost of a notarial will depends on the complexity of your situation and the notary’s experience. Typically, you can expect to pay at least $300 for a simple will, with fees increasing for more complex cases.
The fee for preparing a notarial will typically include:
- Drafting your wishes according to legal standard.
- Safeguarding the original will for your lifetime.
- Providing a certified copy if needed.
- Handling the probate of the notarized will.
In comparison, probating a non-notarized will can cost more than $1,000.
How much does a protection mandate cost?
You can also ask a notary to create a protection mandate, also known as a mandate of incapacity. This document allows you to designate someone to manage your affairs if you become unable to do so.
While you can draft a protection mandate on your own without charge, there may be additional costs for legalizing the mandate and for any related legal proceedings.
Fees for drafting a notarized protection mandate can vary widely between notaries, typically ranging from $200 to $1,000, depending on the complexity of your situation.
How much does a succesion cost?
Managing a succession can be complex and costly. Here are some of the fees and expenses you might encounter when settling an estate:
- Probating the will: If the will needs to be probated, the cost can exceed $1,000.
- Will search: Conducting a will search at the Chambre des notaires and the Barreau du Québec typically costs less than $25 each.
- Notary fees: Fees for a notary to handle the acceptance or rejection of the succession can amount to several hundred dollars, depending on the complexity of the case.
- Refusal of inheritance: If you decide to refuse the inheritance, the notary’s intervention is necessary to ensure that no actions are taken that could be interpreted as tacit acceptance of the estate.
These costs highlight the importance of understanding the financial implications involved in managing a succession.
Why is it important to use the services of a notary?
Using the services of a notary is essential because they are a public official who operates with impartiality and who follows strict regulations to uphold their role. Collaborating with a notary ensures that your transaction or project is handled under optimal conditions and in full compliance with current legal requirements.
Please note that the prices mentioned in this article are for informational purposes only. For an accurate cost estimate, we recommend contacting your notary directly.
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