The French Buying Process
In general, once you have found the house and have agreed a price the process is quite simple. A compromis de vente is drawn up, by the estate agent where the agreements of the purchase are laid out. Purpose is to clarify the agreement between the two parties before the Acte de Vente. The acte de vente is when the Notary actually writes out the sales deed, and the vendor is paid.
The whole process takes usually two months, usually less if there is no loan involved. French laws allows Purchasors a 7 day cooling of period. This period starts when the compromis is complete and is delivered by registered post to each of the purchasors home adress. By the end of the cooling of period you are expected to have paid the deposit. Usually a bank money transfer to the Notary preparing the sales deed. The notary then starts his searches in preparation of the sales deed usually some 8 weeks later.
Before the signature of the acte de vente, you should have the following : Inspected the property to insure all is there as when you last saw, read mains electricity, water and mains gaz meters, and check that furniture you agreed to take over is there ! Insured the property, especially needed if you have a morgage. The Notary will demand this proof of insurace. Transfered in time the remaining funds. Arranged procuration for any of your buying party not there.
Many of the above can be taken care of by our negotiators, contact them for advice. Please note that some of the regulations, taxes or law may vary from time to time and we aim to keep the information up to date. Also we always recommend you to seek specialist advices in French law or taxes or regulations, as their application may vary with your specific situation.
We have prepared a list of usefull terms that will help you with your buying process. read more....