How to buy properties in France

 

www.Frenchnotaire.com will give you all the tips

Notaires are the principal partners of any property transaction in France. They will help you finding your property. They will prepare the deed and give you all necessary advices and security (legal structures, taxes, mortgage,...). This website presents all the important steps for the acquisition of your future home in France. The must know:

  • When buying a property in France, wether through a notaire or an agent, the notaire oversees all the legal aspects of the sale as he has the monopoly over the preparation, the signing and the execution of the final deed or "acte authentique".

  • The fees and transfer taxes are payable by the buyer to the notaire on completion of the acquisition. They amount to about 7% to 9% for second hand properties and 3 to 4% for new properties excluding mortgage fees if applicable. notaires, as public officers, guarantee the buyer good title on the property and will ensure that any conditions set in the purchase agreement are fulfilled.

  • These fees are non negociable and are identical wether two notaires are involved in the transaction or only one. Therefore retaining two notaires, one for the buyer, one for the seller does not add cost.

  • If and when notaires act as agents, the buyer will be liable for a negociation fee which is fixed by government decree.

  • Nearly all French properties are freehold and all properties are registered at the land registry ("Conservation des hypothèques"). Ownership of a property is determined by its registration and not by title deeds. While ownership is clear, the boundaries of a property may not be. If an exact plan of the property is not available or you are purchasing a sub-division of an existing registered property, then the notaire will call upon the services of a surveyor to map the boundaries.


  • The provisional sale and purchase agreement:

    • Once you have found your home and reached an agreement on its price, you must enter into a provionnal contract ("compromis de vente " or "promesse d'achat") with the seller. It is essential that you do it with a notaire ; he is the only one to give you all necessary guarantee on your future acquisition. The provisional contract stipulates, among other things, the details and state of the property, the existing encumbrances, the price and term of payment, the amount of the security deposit, the date for taking possession and any conditions precedent you wish (building permit, mortgage...). The security deposit usually amounts to 10 % of the acquisition price and is payable after a "cooling period" of seven business days giving you the opportunity to retract. It is kept by the notaire and is refundable in case the conditions precedent mentioned in the provisional contract are not met. Be careful: do not buy a rented property unless you have taken advice from the notaire as tenants have many rights in France specially in rural areas.

  • The deed of sale and purchase:

    • This is the actual sale and purchase agreement which must be prepared by a notaire and signed in front of him by the different parties concerned. See details under "The role of the notaires" page.