Once the preliminary contract has been signed, there follows a period of around 4-8 weeks during which the Notary carries out their due diligence on the property. 

The 'Notaire' is an independent government official who represents neither the buyer nor the seller, rather he (and it often is a he!) is a neutral person there to ensure that the sale goes through abiding by all the legal procedures and taxation laws that are associated with a property sale/purchase.Each party can appoint a Notaire (the cost remains the same - the notaires share the fee) so in some cases there may well be two Notaires working on the same sale. 

The Notaire checks that each party has full capacity or the right to either sell the property or purchase it. They are also responsible for all searches relating to the current title of the property and  verifying that no mortgage exists over the property. 

If the notaire's findings are satisfactory you will receive a date for the final signature to take place. It must be noted that a date is always given on the preliminary contract, however, in more cases than not, this date is changed so we do advise our clients to wait until the Notaire can concretely confirm the date for the final exchange. 

There are actually only three Notary's offices in Monaco they are as follows:

Etude Aureglia-Caruso

Etude Crovetto

Etude Henry Rey  

If you are unable to attend the signing in person you can arrange for the signature to take place in your absense via power of attorney.  

The final signing of the Acte de Vente (Sales Act) takes place at the Notaire's office and the property will at this time pass into your ownership. Your mortgage company (should you be using one), should have already sent the funds to the Notary's office and on the final day you must pay the balance of the purchase price to the Notaire, who then in turn pays the vendor.