The Moroccan law is based upon the French legal system and so many terms are the same as in France. Remember: don’t sign anything or put down a deposit until you have taken legal advice.   Your lawyer will be able to extensively cover the legal costs and taxes you are liable for prior to committing yourself to a purchase or remortgage.   The contract that will be drawn is signed by both parties (Buyer and Seller ) and is known as “Compromis de Vente”. At this point you would be required to normally pay your deposit and any additional costs. This is held in a special account of which is held by the Notary or lawyer. On signing this contract you are legally bound to purchase the property, it also secures the property from other offers from third parties by being taken off the market.   It is strongly suggested that you have an mortgage clause in your contract. If you decide not to proceed with the purchase after signing this contract you would lose your deposit and could be sued for losses incurred by the seller. IMM will   liaise with your lawyer through out the process.

The Moroccan government levy a 10% tax on your monthly interest payments on your mortgage. This is deducted by the bank at source and paid on your behalf. The Moroccan mortgage process is not the quickest and so you should allow 8 to 12 weeks for completion, although some lenders can complete quicker. Many lenders will also require that you actually visit the bank for completion and present your original paperwork for them to take original copies of.  IMM will of course collate copies first and ensure that your lender is happy to proceed and take you through the approval process.