The transfer of funds from the bank to the notary’s office is the most common friction point in the timeline of a real estate sale. We observe that most delays do not come from the notary or the buyer, but from the bank’s internal procedures, which are rarely explained to the parties involved.
AML-CFT Controls and Bank Limits: What Really Extends the Transfer Time
A standard national transfer between two accounts generally takes between 48 and 72 hours to be credited. For a real estate transfer, this timeframe can extend up to five business days. The difference lies in the anti-fraud checks and AML-CFT obligations (anti-money laundering and counter-terrorism financing) that the bank applies to high amounts.
Specifically, when a transfer order concerns the price of a property, the bank’s compliance department verifies the source of the funds, the consistency with the client’s profile, and the payment destination. These checks are manual in many institutions, which explains slower processing on Fridays or the day before a holiday.
Understanding the notary’s transfer delay by the bank requires distinguishing between two flows: the buyer’s personal contribution, transferred from their current account, and the release of the mortgage loan ordered by the lending bank. Each follows a different validation circuit, and it is their synchronization that determines the actual signing schedule.
Release of the Mortgage Loan: Sequencing Between Bank and Notary
The bank never releases the funds spontaneously. It waits for a specific document: the release request issued by the notary, sometimes referred to as a funds call. This letter, addressed to the lending institution, specifies the exact amount to be transferred, the bank account details of the notary’s escrow account, and the planned signing date.
We recommend issuing this funds call at least ten business days before the signing date. Some banks require the request to be sent by postal mail, while others accept a digital submission. The internal processing time varies by institution.
Personal Contribution and the €3,000 Threshold
Since 2015, any payment over €3,000 intended for the notary must be made via bank transfer. Bank checks or personal checks are no longer accepted beyond this threshold. This rule, often unknown to first-time buyers, can create a delay if the buyer has not anticipated the transfer of their contribution.
The personal contribution generally needs to be credited to the notary’s account before the signing date. We observe that notary offices require the funds to be received at least two to three business days in advance to allow for necessary accounting verification.
Post-Signing Formalities: Why the Notary Retains Funds After the Sale
The seller does not receive the money on the day of signing the authentic deed. The notary retains the funds for a period typically ranging from two to twenty-one days after signing. This timeframe covers several mandatory operations:
- The publication of the sales deed with the land registry service, which formalizes the transfer of ownership and can take several days depending on the competent office.
- The settlement of any creditors of the seller (outstanding mortgage balance, release of mortgage), which the notary must ensure before releasing the balance.
- The payment of transfer taxes and various fees to the public treasury, deducted directly from the escrowed funds.
- The retention of a provision for condominium charges if the sale involves a unit in a condominium, while settling accounts with the property manager.
The notary can only release the sale price after settling all of these items. If the seller has an ongoing loan, the timeframe also depends on the speed of their own bank in transmitting the early repayment statement.
Common Blockages in Real Estate Transfers and Acceleration Levers
Several situations delay the transfer from the bank to the notary without the buyer being responsible. Identifying them in advance allows for action.
- An incorrect bank account number or an incomplete transfer description causes an automatic rejection. We recommend verifying the notary’s banking details directly with the office, by phone, to avoid fraud with false bank account details.
- An incomplete loan file (missing borrower insurance certificate, unresolved suspensive condition) blocks the bank’s commitments department.
- A signing scheduled on a Friday afternoon mechanically pushes back the seller’s receipt of funds to the middle of the following week, as interbank transfers do not occur on weekends.
Scheduling the signing at the beginning of the week reduces the risk of delays related to non-business days. This is a simple lever, rarely suggested by the notary offices themselves.
Following Up with the Bank: When and by Whom
If the transfer is not credited the day before signing, it is the notary’s responsibility to follow up with the bank, not the buyer’s. The office has a dedicated contact within the partner banking institutions. In practice, the buyer can expedite the process by contacting their bank advisor to confirm that the release order has been transmitted to the back office.
The real estate transfer remains dependent on a chain of actors, none of whom control the timeline alone. The best guarantee of smoothness is anticipation: funds call sent early, contribution transferred in advance, signing scheduled at the beginning of the week. It is these operational details, more than the law, that determine whether the transaction concludes on the planned date.