I AM MARRIED TO MOROCCAN AND PLANNING TO BUY PROPERTIES IN MOROCCO

@U M52 get a lawyer not a morrocan one

Hi! I have done this with my husband. If you are buying in urban areas you can have it in your name, but only Moroccans can own property in rural areas. Use a convertible account so you can protect your money.

Always use a proper solicitor and agree all fees with EVERYONE involved in the purchase in advance.

Make sure the people you are buying from actually own the property. Many properties in Morocco are owned jointly by multiple family members and all must agree to the sale. Anyone who introduces you to a property will expect a fee. These can be horrendous, so beware.

Check  all the extra costs as they are high: purchase tax is much higher than in the UK, where I come from, for example.

i wish you all the best with your venture.

@inescoreiadasilva Where can I get that? who do I ask?

@ksquared

Will  a convertible account allow you to sell the property in the future and then take the money out of morooco to the UK ?

What fees were involved, i have an idea but not sure,

1- property registration fee (6 percent?) 

2 - notary fee (1 percent?)

3 - lawyer fee ( %?)

4 - stamp duty ( 1 %?)

5 - land registry (%?)

Is it necessary  to have estage agent involved for purchase or can you approach the building owner  direct?

Thanks

@U M52 I'm in the same boat as you, we should connect!

@88kasa I think you have raised all necessary questions, and I have no clue about it.

I hope I find the right lawyer to help me understand.

Thanks

@U M52 Hi, Im a British expat living in Morocco for over 10 years with business and assets, Please find some answers below:

Is it safe to do that / or what are the risks involved?

100% safe so long as you follow the law in Morocco. You can only but commercial or residential and not agriculture unless you purchase under your wife name. You will need to hire a Notary in Morocco for these transaction.

Has anybody done this before?

Yes

What do I need to do to protect my money?

Notary who will conduct the transaction for you

Is it possible to take the money out of Morocco later?

Yes so long as you can prove the money came from overseas. so important to bring the money from overseas in to a convertible Dh account and maintain that account as that's your evidence. Any profit can be taken out so  long as you have paid the correct taxes on sale.

Hope this helps

do I have to live there now in order to purchase properties there?

@Vakil

Is there an approximate percentage buyers can expect to pay on top of the basic property price for the fees accociated with buying the property eg registration fee, notary, stamp duty, (lawyer fee) etc.

Thanks.

@Lysa Drew no you don't have to live in Morocco in order to buy a property. Foreigners have the freedom to buy commercial and residential only. Without having to be a resident in Morocco.

@88kasa you should factor in around 6-10% depending on the property you buying for legals and notary fees but exact amounts would be determined by the notary you use.

@ksquared
Will a convertible account allow you to sell the property in the future and then take the money out of morooco to the UK ?
What fees were involved, i have an idea but not sure,
1- property registration fee (6 percent?)
2 - notary fee (1 percent?)
3 - lawyer fee ( %?)
4 - stamp duty ( 1 %?)
5 - land registry (%?)

Is it necessary to have estage agent involved for purchase or can you approach the building owner direct?

Thanks
-@88kasa

fee around 6-10%

don't need estate agent they will charge you an additional high fee around 5% for there services just to find you a property.

you can go direct to the owner or protect sales office for the new build if your buying a new build project. Some people will ask for Commision.

some people may ask for official price and cash under the table this is a quite normal in Morocco so be prepared for the unexpected.

Kindly remember when you buying ask what the service managment fees are. How much they will take in advance usally it's 2 years paid in advance then paid yearly.

then you have to pay the fees to the water and electric contracts few thousand Dh but they can tell you this.

then after one possibly two year depending if it's new build or not there is a local tax like council tax you should check what that is for the area normally gets sent in the post every year.

any work being done should seek local permission to comply with the law.

@Vakil thank you, lots of helpful information in your posts!

@Vakil Great info. I'm working on my savings. I figure after my 401(k) and pension are completed. I should have at least 1 million saved up so that I can purchase a property out right without a loan this way I can avoid RIBA. I can move there now but I would need to sell my house and adjust my living style.

@U M52  I'm originally from casablanca morocco and my simple answer to you is NO

@U M52

Hello, im originally from Casablanca morocco and my simple answer to you is NO don't do it! it's not safe & there are no laws to protect you. They will lie, cheat, scam and tell more lies until they win. please be very careful

@Land of The Free

Dont do it    buy in your name only and check with lawyers first otherwise you will loose everything

@U M52 Read my Lips `` Don`t Do It ``

    @U M52 Read my Lips `` Don`t Do It ``        -@Heart Collector

for what you see that

@Brahim Elyamani Read the complete thread ,you will understand

@Vakil Hi mate, My understanding is that you can take home the money you transferred at the beginning, any difference (Profit) needs to be spread over 4 years, you you can send back 20% of the profit per year.

I know a British person who was forced to follow this rule by the bank and they stated that it is the law, not sure if it was changed recently.

@U M52 very diffucult to get back your money  in case of dead that will be a lot of difficulties also bad mistake to be married with morrocan you will all your time given  money for them they are all intetested by money also believe me

I second that.  you will regret it as long as you live.   Constant lies…..the truth is something foreign to them.  Be very careful and don't rely on translations from the family and always be aware that whatever you buy will never be yours.

@Vakil If you buy a new apartment and pay 30% of the price every 6 months can you pay directly to the bank account? For example by a wise transfer? Or still you need to bring the money anto a convertible Dh account?

Barbara

@Vakil If you buy a new apartment, pay 30% every 6 months can you pay directly by a transfer (Wise transfer, for example) to the agency account? Or you still need to bring money to a convertible Dh account?

P.s.

I have been happily married to a Moroccan for 5 years, and i am proud to say that I find many moroccans to be of excellent character, trustworthy and honourable.  We should be cautious to generalise others, especially an entire nation.  I hope that you find many new friends and lots of exciting adventures exploring this deeply historic and colourfull land, as I have.

Can anyone suggest a reliable notary to assist a cheap property for me and my moroccan wife which is leggaly ours and trusted legal ownership etc in full with no regrets in future times ahead? There is advertised 2 bedroom new builds in casablanca and on the outskirts we are seeing going for £20'000 british equivalent in price? If anyone has details contacts and experience then please get in touch asap