how to buy in monaco: a property purchase guide
Buying property in Monaco requires clarity on the legal process, the documents involved, and the role of professionals who support each stage. While transactions are highly regulated, the system is designed to provide security and transparency for both buyers and sellers. This Monaco property purchase guide explains the difference between a preliminary sales agreement and the authentic deed, and how each step shapes the process of acquiring real estate in the Principality.
OVERVIEW OF THE MONACO PROPERTY PURCHASE PROCESS
Preliminary sales agreement: Optional, but useful when conditions such as financing or the State’s right of pre-emption must be considered.
Authentic deed: Mandatory, signed before a notary, and the definitive act that transfers ownership.
Seller’s presence not required: Sellers can be represented by the agency, simplifying logistics.
Key handover: The property is delivered at the conclusion of the authentic deed, finalising the sale.
Agency support: Professional guidance ensures that every stage of the transaction is managed securely and efficiently.
THE PRELIMINARY SALES AGREEMENT
The preliminary sales agreement (compromis de vente) is not mandatory in Monaco but can be highly beneficial in certain circumstances.
It is particularly relevant when:
– The purchase is subject to a suspensive condition, such as securing a mortgage.
– The transaction requires clearance of the State’s right of pre-emption, which allows Monaco to purchase certain properties ahead of the buyer.
By signing a preliminary agreement, both parties confirm their intent to proceed, subject to agreed conditions. This step adds structure and security to the transaction without being legally required.
THE AUTHENTIC DEED: FINALISING THE SALE
The authentic deed (acte de vente authentique) is the definitive stage of every property purchase in Monaco. It must be signed in the presence of a Monaco notary, who ensures the legality of the transaction and records it in the public registry.
Key points include:
– The seller does not need to be physically present; Dameno can represent their interests.
– The buyer must be present or represented through a legal power of attorney.
– Once the deed is signed, ownership is transferred and keys are handed over, formalising the buyer’s rights.
This moment marks the legal and practical completion of the purchase.
WHY WORK WITH A REAL ESTATE AGENCY IN MONACO?
Working with an experienced Monaco real estate agency ensures that every stage of the transaction is handled with precision, from advising on the need for a preliminary agreement to coordinating with notaries and legal advisors. At Dameno Monaco Real Estate, we represent sellers, support buyers with all administrative steps, and oversee the smooth transfer of ownership without gaps in compliance. With over 40 years of experience serving both local and international clients, our role is to make each purchase efficient, transparent, and aligned with your objectives.
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Expert guidance throughout the property purchase process in Monaco
MONACO PROPERTY PURCHASE FAQ
Is a preliminary sales agreement mandatory in Monaco?
No. It is optional, but useful when the transaction includes conditions such as financing or clearance of the State’s right of pre-emption.
What is the role of the authentic deed?
The authentic deed is the final act signed before a notary, which legally transfers ownership of the property.
Does the seller need to attend the deed signing?
No. Sellers can be represented by their real estate agency or a legal proxy, making the process more flexible.
When do buyers receive the keys to their property?
The keys are handed over at the conclusion of the authentic deed, marking the definitive transfer of ownership.
