How to Buy Property in France
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Buying property can be a complex and stressful experience especially if you’re looking to purchase property abroad. The process of buying property abroad varies from the UK. The following guide will help you understand the process of buying property in France.
Making an Offer on a Property
Once you’ve found your ideal home, made an offer and had it accepted the next stage is to sign an initial contract. This is called a ‘Compromis de Vente’ which is a legally binding document that states the details of the property, the sale, the agreed price, those involved and any conditional clauses that either party wish to include. If necessary employ the services of a translator to help decipher the details of the contract.
Using a Reputable Estate Agent to Find your Dream Home
In France all estate agents must hold something called a ‘Carte Professionelle’. This certificate allows them to sell property. It is illegal to do so without one. Before proceeding with a sale it is advisable to ask to see the agents Cart Professionelle to ensure they meet the required standard.
Searching for the ideal property abroad can be difficult when you’re based in another country. There are several online based French Property Specialists available who offer a handy French property finder to help narrow down your search. They’ll also work closely with you and arrange viewing and offer help and advice.
The Cooling Off Period
In France once you have signed the ‘Compromise De Vente’ there is a 7 day cooling off period. In this time either party can pull out of the sale without fear of losing their deposit. Once the cooling off period has passed the buyer would forfeit their deposit if they later decide to pull out of the sale.
A deposit will be required at this stage which is usually about 10% of the properties sale price.
The Conveyancing Period
In France the next stage is the conveyancing process. This phase of the buying process will take about 3 months to complete. It’s carried out by what is called the ‘Notaire’. The Notaire is a sort of lawyer that is employed by the French Government to ensure property or land sales are all handled correctly and that all fees are paid.
Final Payment and Contracts
Once the conveyancing process has been completed the final payment is made to the Notaire. The deed of sale or ‘Acte De Vente’ is signed by both the buyer and seller. The Notiare will then give the new owners the ‘Attestation De Vente’ with the final ownership papers being posted about 6 months later.
Although the property buying process takes longer than in the UK it’s fairly straight forward as long as you employ the services of a professional agent, lawyer and if needed translator. These people will be able to help and advise you of the finer points of successfully buying a property in France.
About the Author
Andrew Butler is a UK search engine marketing consultant for the French Property Specialists, Luxury French Property in Marseille, France.
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