Completion Time Frame: 5 days
Completion Costs: No cost
Points to Note:
The seller must give the original property title to the buyer for the checking (or go with the buyer at the Titre Foncier). The buyer asks the “Conservateur” at the “Registre des Titres Foncier” to check if the property is indeed registered to the present owner. The buyer also requests proof that the property is not encumbered by mortgages, liens or other securities.

Step 2: The lawyer drafts the sale agreement and is signed by both parties

Completion Time Frame: 2 days
Completion Costs: 250.000 BIF
Points to Note:
Both parties sign a “compromis de vente” once it has been prepared by a lawyer.

Step 3: The buyer checks the price at the Land Registry

Completion Time Frame: 25 days
Completion Costs: 10 000 BIF
Points to Note:
The buyer goes to the Land Registry (“Titre Foncier”) with the compromis de vente and the property title. The Land Registry will send the documents to the Ministry of Finance for price verification. An expert is designated by the Ministry of Finance to check whether the price is the correct one. This depends largely on the availability of the expert. The expert will produce a report which is transmitted to the Director for signature. If for instance the price on the “Compromis de vente” is lower, the transfer tax will be paid based on the value provided by the expert from the Titre Foncier and not on the agreed price between vendor and buyer. The Titre foncier also proceed to the verification that this property has no encumbrances.

Step 4: Notarize the Sale Contract at the Public Notary

Completion Time Frame: 2 days
Completion Costs: 21.000 BIF
Points to Note:
The parties should notarize their sale contract with an accredited public notary. Costs vary in each case. Notaries usually charge a fixed fee per page. Assuming a standard sale contract, an average estimation of the cost of this procedure is BIF 21,000.

Step 5: File for Name Change with the Land Registry “Registre des Titres Fonciers”

Completion Time Frame: 60 days
Completion Costs: 6% property value (tax to change to the buyer’s name)
Points to Note:
The parties should file a request with the Land Registry “Registre des Titres Fonciers” for the transfer of property to the buyer’s name. The only documents the parties are required to present are the notarized sale contract and the property title. The Land Registry employees have to perform due diligence and might do a field inspection of the land. The Director of the Registry will also write to the Urbanism Department “Services de l’Urbanisme” asking it to confirm that the total surface and total sale price as stated in the sale contract are accurate and not understated. The due diligence process could take one or two months. The former 7% additional tax has been abolished by the Loi des Finances of 2007.