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The buying Process

Buying a house in France can be quite a different experience to buying property elsewhere.
As licensed agents we have a moral and legal responsibility to make-sure our clients know as much as possible about the property they are buying and understanding the procedure of the transaction. Read on to discover more about buying French Property.

Once your offer has been accepted by the vendor, the Estate Agent or Notaire will complete the Compromis de Vente or Preliminary Sales Agreement. This written document is a binding agreement between the vendor and the buyer. Note, there is a cooling off period of 7 days.

You must pay a 10% deposit of the agreed price. This money is yours and kept by the Notaire in a special notarial account as a guarantee until the purchase is completed or cancelled. The property will then effectively be taken off the market. After signature of this document, a loan will need to be obtained where necessary.

It takes between six and twelve weeks for the Acte de Vente or Deed of Sale to be complete and ready for signature by the parties. As well as drafting the Acte de Vente, conducting planning and other searches and enquiries with the local authorities, the Notaire will also act on behalf of the lender if a loan is being used for the purchase of the property.

Signature is made at the Notaires’s office, the buyer pays the balance of the purchase price and the legal fees and taxes to the notaire. When all the extensive paperwork is completed and the house is insured, you can receive the keys of your new home.

Get further Advice This is only a very brief guide to buying a house in France, it is highly recommended that you must seek full Legal and Tax advice by a specialist UK of French law firm.

You should seek proper and independent advice as early as possible from bilingual solicitors who have knowledge and experience and will be acting in your best interests.

Things you need to know You must be aware that the conveyancing process in France is very different to that of your home country. It is extremely important that you research and seriously consider the legal, tax and inheritance issues in order to avoid any surprises at a later stage. You will also have to deal with new words, terms and perhaps measurements, as well as think about insurance policies for your home, loan, health or car, and calculate in a different currency than your own.

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