Guide to Buying Property in France
A Brief Guide to Purchasing a French property ...
Once your offer on a French property for sale has been accepted by the vendor, the French Estate Agent or Notaire will complete the Compromis de Vente or Preliminary Sales Agreement. This written document is a binding agreement between the vendor and the buyer. Note, there is a cooling off period of 7 days.
You will usuallly pay a deposit of 5 to 10% of the agreed price, although this can vary depending on how the parties agree. This money is yours and kept by the Estate Agent or the Notaire in a special account (compte sequestre) as a guarantee until the purchase is completed or cancelled.
The property will then effectively be taken off the market. After signature of this document, a loan will need to be obtained where necessary.
It takes between six and twelve weeks for the Acte de Vente or Deed of Sale to be complete and ready for signature by the parties. As well as drafting the Acte de Vente, conducting planning and other searches and enquiries with the local authorities, the Notaire will also act on behalf of the lender if a loan is being used for the purchase of the French property.
Signature is made at the Notaires's office, the buyer pays the balance of the purchase price and the legal fees and taxes to the notaire. When all the extensive paperwork is completed and the house is insured, you can receive the keys of your new home. Congratulations, the house is now Yours!
This is only a very brief guide to buying a French property in France, please register to gain access to the full Legal and Tax pages provided by a specialist UK law firm.
When registering, you may want to instruct us to carry out searches on your behalf based on your specific criteria. This will also help us to keep you informed of our latest offers, should any suitable property match your requirements.
Buying in France just got easier...
We work with a network of French estate agencies, notaries and close personal contacts in various areas in France. Our many contacts extend to French property solicitors, banks, French insurance companies, French mortgage specialists, foreign currency exchange specialists, translators, local builders and more...
Have a browse for your very own "dream French property" on our regularly updated selection of properties. We hope you enjoy using our website and look forward to hearing from you soon.
Important note: You should seek proper and independent advice as early as possible from bilingual solicitors who have knowledge and experience and will be acting in your best interests. |
