THE GUIDE FOR BUYING PROPERTY IN FRANCE.
Interested in French property? Here's how buying process works:
Buying property in France (freehold French residential property):
An agreement is negotiated between buyer and seller and the initial contract
which is called a Sous-seing Privé, if drawn up by an French
Estate Agent (Immobiliers) , or a Compromis de Vente, if prepared by the Notaire
Once an agreement on price is reached by both buyer and seller, a solicitor
or notary will draw up a legally binding contract which both parties sign.
A10% deposit is paid at this point. The property is taken off the market and
the legal system begins its searches. At this stage if the buyer backs out
of the contract they forgo the deposit.
The final contract, the Acte de Vente, is signed by both parties at the Notary’s
office and at this stage the deeds go to the buyer and the
land registery updated. The balance of the purchase price is paid to the Notaire
who will then pay the vendor. The Notaire will require with
a copy of your birth certificate and, if applicable a copy of a Marriage Certificate.
Fees:
Expect to pay around 10-15% over the selling price for French property;
The Notary fee around 3%, transfer tax 7.5% (less than 1% for new properties
in France) and registration fees around another 6%.
