The Buying Process

BUYING A HOUSE IN FRANCE   We understand that buying a house in another country can be daunting and therefore we will try and make your purchase in France as easy and stress free as possible. And while the French system is very different it is, in many ways, better and safer than in most other countries.

Once you find a property you wish to buy then you make a written offer which is formally presented to the vendor. Once a price has been agreed then a Compromis de Vente (promise to buy) is drawn up. At this stage it is important to add any purchase conditions for example: obtaining finance, subject to survey etc… Most of these conditions will have a realistic time limit set to them.

Being a registered agency we can draw up the compromis but after this the sale must pass through a notaire who is the only person who can make the searches and obtain certain legal documents necessary to make the transaction possible. The notaire is chosen by the vendor but you have the right to choose your own notary who, if necessary, will work in collaboration with the owner's. There is no extra cost as the fees are then shared. However, the delay may be a little longer due to the necessity for the two notaries to correspond with each other. The notaries fees, which depending on the selling price, can be as much as 8% on old properties, or as little as 1.5 to 2.5% on new ones. One should note that prices of property are advertised exclusive of these charges. The bulk of this fee goes to the French state.

The compromis de vente is signed by both parties. At the time of the Compromis the vendor will have a series of diagnostic reports carried out on the property. Once these have been done the signed compromis and the reports will be sent to you by registered mail. On receipt of these your 7 day cooling off period will begin. If you wish to retract for any reason during this period then it must be done in writing and sent by registered letter and you may retract from your sale without penalty. At the end of the 7 day period then your deposit is due. This is normally 5% of the asking price. If you retract AFTER the 7 day period for any reason other than one of the clauses you inserted in the offer has not been fulfilled stated in the compromis you will forfeit your deposit.

The notaire will then require two or three months in order to prepare all the necessary paperwork before the acte authentique. At this stage the final payment will be due and the money will be expected in the account of the notaire a day or two before the date agreed. You will receive a bill showing the final amount due. It is also law in France to have your property insured from the minute you own the house so this must be sorted out in advance. It is usual for both parties to attend the final acte de vente and we will accompany you to assist with translating. However, if you are unable to attend then you can sign a power of attorney and the ‘signature’ can happen in your absence. After the signature you will be given the keys.

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