A Guide to Buying Property in France

This is a general guide to the buying process in France. It is a complex matter and we strongly recommend that you seek professional advice whether it be from a solicitor, a surveyor assessing a buildings condition or a financial consultant to advice you on tax and inheritance issues.

A bon de visite is not uncommon, you may be asked to sign this by estate agents. This means once the house has been viewed you can’t deal directly with the seller or any other agency to reduce costs.

In the UK the vendor and the buyer usually have different solicitors, which can of course lead to lots of additional paperwork and wasted time. The French system is that it is normal for a solicitor (notaire), appointed by the vendor, to act for both parties. Their role is to draft legal documents, ensure all state taxes are paid on purchase and that the property is registered at the time of completion.

A Compromis de Vente (or Preliminary Sales Agreement) is the contract signed by both vendor and buyer when an offer is agreed upon. A deposit is paid at this time, normally between 5-10% of the property price.

With the Compromis de Vente there is a seven-day cooling-off period, in which you can pull out without forfeit. If the contract is broken after the seven-day cooling-off period you will lose your deposit.

At this point it is important you state whether you are taking a loan out to cover the price of the property, this will then be included in the Compromis de Vente. If the loan is then refused and you cannot get an alternative mortgage, you can still recover the deposit.

Gazumping is almost unheard of in France due to the Compromis de Vente.

It is not common to get a survey in France, because most French and British banks in France do not demand them. There is just a valuation done by a valuer, not a surveyor. But common sense should prevail; if you’re buying an old house getting a survey done could save you a lot of heart ache and expense at a later date. The estate agent, notaire or lawyer will be able to help you get it translated.

The final stage is in the process is the Acte de Vente (or Deed of Sale). When you sign the Compromis de Vente, you will be given a date for signing the Acte de Vente - usually 6-12 weeks ahead.

It may have been some time since you last saw the property you are about to purchase, visiting the property the day before will give you the opportunity to see if anything has changed that good detract from the value. If it has, contact the notaire and seek a reduction in price

The Acte de Vente is signed at the Notaires's office, it must be done in person in front of the Notaire, but if you cannot be there, you can sign a mandate giving power to a notaire to sign for you

At this point the buyer pays the balance of the purchase price and the legal fees and taxes to the Notaire. Once the paperwork is completed and the house is insured the Notaire can you give you keys to your new home!