Buy property in France

 

www.frenchnotaire.com will give you all the tips to buy a French property

Notaires are the principal partners of any property transaction in France. They will help you find your property, 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, whether through a notaire or an agent, the notaire oversees all 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".

  • Fees and transfer taxes are payable by the buyer to the notaire on completion of purchase and usually average 7% to 9% for second hand properties and 3 to 4% for new properties, excluding mortgage fees if applicable. Notaires are gouvernment officials, they guarantee the buyer good title on the property and will ensure that any conditions set in the purchase agreement are fulfilled.

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

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

  • Nearly all French properties are freehold. All property is registered at the land registry ("Conservation des hypothèques"). Ownership of property is determined by registration, not by title deeds. Even when ownership is clear, boundaries of a property may not be. If an exact plan of the property is not available or if you are purchasing a sub-division of an existing registered property, the notaire will hirre 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 provisionnal contract ("compromis de vente " or "promesse d'achat") with the seller. The "compromis de vente" must be negotiated using a notaire who provides necessary guarantee on your future acquisition. The provisional contract stipulates, among other things, the details and state of the property, existing encumbrances, price and terms 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. The deposit is held by the notaire and is refundable in case the conditions precedent mentioned in the provisional contract are not met. Be careful: do not buy rented property unless you have consulted a notaire: tenants have many legal rights in France, especially in rural areas.

  • Deed of sale and purchase:
  • This is the actual sale and purchase agreement which must be prepared by a notaire and signed in his presence by all parties concerned. See details under "The role of the notaires".