The Process
- FIND THE RIGHT PROPERTY
First of all, find a place that suits you.
You can either consult advertisements on various sites and negotiate directly with the sellers…
…or contact estate agents or a Notaire who will negotiate for you with the sellers.
- YOU HAVE FOUND IT
Once you have found the property of your dreams, and agreed on a price with the owner, you will have to sign a sales agreement, either with the estate agent or with a Notaire.
Before this, ensure that you know exactly what you are buying (area of the house or the flat, area of the land, inspect the « plan cadastral », check the general condition of the property, environment… )
- THE SALES AGREEMENT
We will explain in a later post what you have to consider before purchasing, in legal terms.
You can choose your own Notaire (especially if you don’t speak French: ask for an English-speaking Notaire)
The agreement includes notably, the description of the property, if it is free of any rent or occupation, the agreed price, negotiation fees, fees of the sale, the conditions of the sale, the suspensive conditions (usually town planning information, absence of mortgage on the property, absence of encumbrances.)
If you need a mortgage, a condition of the agreement of a loan should be included.
It also informs you of the content of all the legal diagnostics that the seller has to provide you (wood insects, asbestos, lead, etc …)
On the day of the signature of this contract, you have to pay a deposit (usually between 5% and 10% of the price)
- COOLING OFF PERIOD
After the sales agreement has been legally notified to you, you have a 10-day cooling-off period during which you can cancel the sale without any penalty (if you do so, the deposit is refunded to you)
After this period, if you change your mind you have to pay a penalty (usually 10% of the price)
- SIGNATURE OF THE DEFINITIVE CONTRACT
When the Notaire in charge of the sale has received all the administrative documents, and when you have the funds available, you complete the sale by signing the definitive contract with your Notaire.
The Notaire must inform you of any charge or encumbrances existing on the property and if you had not been informed at the signature of the sale’s agreement, you can cancel the sale without penalty.
You have to transfer to the account of the Notaire, the price, negotiation fees, and the fees of the sale
It is safer to make a final visit to the property before signing, to ensure everything is in order.
You receive the keys on the day of signing. You are now the happy owners of the property of your dreams !!!
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