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PURCHASING PROCEDURES

When we agree on the right place for you at the right price, the purchasing process begins by signing the preagreement.
In France, property transactions are handled by the “notaire” who is responsible for ensuring that all documents are authentic and enforceable.
First, property searches will have to be carried out, verifying that the seller has the right to sell the property. The notaire will then draft and prepare a “Promesse de Vente” which is a preliminary sales agreement. At this point, we have the opportunity to incorporate "conditions suspensives" (let-out clauses) to protect you (for instance if you cannot obtain a mortgage).
Upon signing the preliminary agreement (promesse de vente), you must pay a deposit to the notaire, which is usually 10 per cent of the purchase price.

Note that French law gives you a period of seven days to reconsider your decision on the prospective purchase. If you decide to withdraw from the purchase, your deposit is refunded.

The law in France stipulates that your notaire must ensure that all the legal work is complete, the required land searches have been carried out, your financing is in place and the necessary insurance is in place, before the acte de vente (deed) is signed.
If you cannot be present, a power of attorney (proxy - procuration) must be prepared and in place, so that we can act on your behalf.

On the day of the closing, the notaire will retain the deed of sale on the property. The deed is then registered at the "Bureau des Hypothéques" and no other person has any rights to this property, except you as the owner. As a final point, the relevant sections of the deed of sale are sent for registration at the French Land Registry; this can take several months. Thereafter you will receive a copy of the final documents and a breakdown of the costs.




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