Buying a home in France involves many considerations. It’s crucial to have a contract reviewed by an independent attorney before signing. A contract will be given to you fairly early on in the buying process. The notaire or the agent may prepare it. Often, rather than what is included in the contract, difficulties arise from what is left out. This contract is a legally binding agreement, and adding further terms is your sole chance to safeguard your interests. You should have the contract thoroughly reviewed by someone who is tasked with acting on your behalf and who is knowledgeable and skilled in French legal problems. Additionally, keep the associated expenditures in mind. A French buy might come at a startlingly expensive price. Stamp duty is included in the notaire’s charge, which will range between 6 and 8% of the transaction price. 5–10% of the purchase price will be the agent’s commission. Additionally, the budget for the country’s legal advisory costs typically ranges from £1,250 to $3,000.
Prioritize gathering comprehensive information about the property
Request a copy of the plan cadastral (the official land registration plan) indicating the lot or parcels of land you want to purchase from the agent. These may also be seen online at www.cadastre.gouv.fr. Obtain a copy of the title deed if at all feasible. Consult the area’s zoning plan at the mairie in your region. It will provide planning information, and you could learn about projects that might have an impact on your property. Verify the location of the property’s borders. If there is any uncertainty, you may want to have them clearly defined by a boundary surveyor.
Make a proposal
Making an offer to the realtor as soon as you find your dream French home is crucial. After that, the agent will speak with the seller on your behalf and, ideally, reach a pricing agreement before you go. Although nothing is paid for or signed at this time, making an offer secures the property at the agreed-upon price. Don’t be afraid to make an offer if you locate the French home of your dreams, particularly if you are certain it is the ideal match. Before the pre-contract is signed and the 10-day cooling-off period expires, you are not legally bound. During this time, the owner can’t entertain offers from other buyers, securing the property for you. Make sure you have important documents available since you will need to provide numerous legal papers (birth/marriage certificates, copies of passports, etc.).
Sign the ‘compromis de vente’
In the process of buying French real estate, both the buyer and seller must sign the contract to finalize the transaction. This agreement also sets a completion date. Once signed, the seller is legally obligated to sell the property. However, you have a 10-day period to reconsider before being compelled to complete the deal.
Pay the down payment
You will have to provide the Notaire a deposit soon after signing the compromis. This often amounts to 10% of the retail price. While visiting France, you may wish to create a bank account. When purchasing real estate in France, proof of residence is required, typically in the form of a recent utility bill and valid identification like a passport or “carte de séjour.” Non-French citizens should also provide a credit card or bank statement displaying their address.
Sign the final agreement
The time it takes to complete all the documentation for the purchase ranges from 6 to 12 weeks. On the day of completion, you will be asked to the Notaire’s office to sign the ‘Acte Authentique’ (deeds), which ensures the property transfer is lawful. Before you go, double-check the transfer of the remaining monies and request confirmation that the money has been received. This is something your currency exchange agency can provide. Additionally, you must have current home and contents insurance; this is a must. Following these steps, the property becomes yours.
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