The Property Buying Process
We’ve mentioned the importance of sorting out the finances before your trip so that you are informed and ready to commit. Being mentally prepared to make an offer is just as important.
On average, it takes three months to buy a French property; it can take longer when buying an historic home, or if you need financing. So, apply for an agreement in principle if you need a French mortgage.
Step One: Make your Offer
When you have found your dream French property, it’s vital to make an offer to the agent as soon as you can.
The agent will liaise with the seller on your behalf and hopefully agree on the price before you leave. Making an offer secures the property at the agreed price, but no money exchanges hands at this time, and nothing needs to be signed.
TOP TIP - don’t lose out! If you find your ideal home, do not hesitate to make an offer, especially if you know it’s the right place for you.
A contract will not bind you until the pre-contract is signed and the cooling-off period (10 days) has expired. However, this will secure your future property for now, and the owner cannot accept offers from other buyers. You will need to supply various legal documents (birth/wedding certificates, a copy of your passport ...), so make sure you have them handy.
For Brits, Americans, Australians, and other non-EU-resident buyers, ensure your passport has at least 6 months remaining until expiry, and that you have thoroughly researched buying, working, staying, retiring, and living in France.
Step Two: Sign the 'Compromis'
The 'compromis de vente' is a contract signed by both the seller and the purchaser to seal the deal and outline the process for purchasing a French property. At this stage, you set a completion date.
From this point, the vendor is legally obliged to sell you the property, but you still have 10 days to reflect before you are legally committed to the purchase.
Step Three: Transfer the Deposit
Shortly after signing the compromis, you will be asked to transfer the deposit to the Notaire. This is typically around 10% of the sale price. You may want to open a French bank account while you are in the country.
You will need a valid ID, such as a passport or 'carte de séjour', and proof of address in the form of a utility bill dated within the past three months. Non-French residents must provide a credit card or bank statement that includes address details.
Step Four: Sign the Final Contract
It takes between 6 and 12 weeks to complete the necessary paperwork for the purchase. On the day of completion, you will be invited to the Notaire's office to sign the 'Acte Authentique' (deeds), which guarantees the legal transfer of the property.
Ensure the remaining funds have been transferred and confirm they have been received before you leave. Our currency exchange service can assist you with this. You will also need to have obtained home and contents insurance coverage; this is compulsory in France.
Step Five: The Keys to Your French House
The paperwork is complete, sellers have left, and you've been handed the keys. Champagne! It's time to celebrate your French House.
Top Buyer's Tips
KEEP IN TOUCH with the sellers – you may have questions about the boiler, the pool or a handyman after the sale. And prepare to settle into your French home with confidence with our list of 10 essential items.
Start searching for your dream house.
