French Property Purchase, the “Notaire”
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For any property purchase in France, you will need a “notaire” to help you with all the paper work, contracts, payments, taxes, fees, your rights, law, deposits.
French Property Purchase, the “Notaire”
During a property sale, the notaire ensures that all the proceedings comply with french property law, he will assist all parties and is responsible for receiving all contracts (compromis de vente, acte de vente). You can appoint a second Notaire if you wish, one for each party (no more cost). The notaire can advise you on specifics points, checks each party’s rights to buy or sell the property, will attend the signing off all documents and contacts, we’ll be in charge of all the payments including all taxes and fees. The notaire fees are around 7 % (if two notaires, they share fees) of the property price, or less for new build-up properties.
Compromis de vente is the first written contract of sale agreement which legally bins together the seller and purchaser containing details of purchaser and seller : name and of the ownership, property description, price agreed, deposit (10 %), declarations by the vendor, obligations of the purchaser , arrangements for inspection, provisional conditions, agent fees, provision for legal fees, completion date, statements. You will need the help of a translator (founded by the Notaire) to be sure you understand what you read. IMPORTANT, you will have 7 days to withdraw from the purchase without any penalties (loi RSU).
Acte authentique de vente is the final agreement of the sale which must be signed in the “Notaire office” with both seller and vendor, generaly 2 to 3 months (can be quicker, specially if no morgage is involved) after signing the “compromis de vente”.
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