Seven easy steps to buying property in France

Step 1. The Compromis de Vente

This is the first contract that the purchaser and vendor will sign and is a legally binding document.

In France there is a two contract purchasing procedure. The first contract ties both parties into the purchase whilst the searches are done and other matters are sorted out. This contract details all the terms of the sale, ie names, addresses, price, fees, property description, land areas, specific items to be left or sold within the price.

When both parties have signed, the price of the property cannot change. There will be a delay of approximately 3 months while the notaire works on finalising all matters.

A provisional completion date will usually be set in the first contract and if this date is not met the vendor may be free to withdraw from the proposed sale and keep your deposit.

To enable the compromis to be compiled you will need to supply various pieces of personal information (birth certificates, marriage certificates, divorce or death certificates, passports) together with any information on financing the purchase.

Step 2. The cooling-off period

Once both parties have signed the compromis it will usually be sent to your home address by recorded delivery. Purchasers have a 7 day cooling off period from the date of receipt of the compromis.

After this point the contract is binding on both parties. It is normal for the 10% deposit to be sent to the notaire when the 7 day cooling off period is over or this may be requested as soon as the compromis is prepared.

Step 3. Searches

All property in France is registered and it is the work of the notaire to obtain all the reports needed in connection with the purchase.

He or she will conduct searches on the ownership of the property, the land boundaries and the rights of way plus ensuring that any essential planning permissions have been obtained for works carried out.

Step 4. Inheritance laws

Once the compromis is signed, the deposit with the notaire, the currency secured and the mortgage arranged, it is time to look into the inheritance law situation.

What happens to all property in France at the death of the owners is written into the final deed and is not necessarily determined by the content of a will.

The form of contract which you use to purchase the property will determine what happens to your property following your death.
It is essential to take legal advice at this point. Premier French Property work with a number of qualified professionals who can help.

Inheritance advice needs to be tailored to meet your personal needs and it needs to be given by someone with an up to date working knowledge.

Step 5. Reconnection of services

It is, of course, essential that the electricity, water and gas (if there is any available) is connected when, or shortly after, you take possession of your property.

We will be happy to organise this on your behalf.

Step 6. Insurance

You property needs to be insured from the date of the completion.
You may be able to take over the insurance policy of the vendors but if not, you will need to ensure that you have full cover for the buildings before you sign the final contract.

Again, this is all part of the service from Premier French Property.

Step 7. The final signing

If possible, it really is important to be present for the signing of the final contract. Before attending the final signing we will arrange a final viewing of the property, to ensure that it is in the same condition as the day you agreed to buy.

At the end of the signing process you will be handed an attestation of ownership by the notaire while the deeds will be sent away to be registered. This takes between 3 to 6 months.

photo: photoalto