BUYING A PROPERTY IN FRANCE : THE DIFFERENT STEPS

Because the purchase of an apartment, house, or land is an important decision, our real estate partners accompany you troughout your project, from the first visit of the property to the final signature of the authentic deed. At all times, you can count on their professionalism, full attention and availability.

The Real Estate Agent
The real estate profession is regulated by a law called "Loi Hoguet".
The real estate agent must be authorized by his regional Prefecture who will give him a professional card, which has to be renewed each 10 years. Also, he must be affiliated to a professional guarantee organisation.
The estate agent acts in the name of a client who gives him, in writing (what we call the "mandat"), his property for sale. The estate agent is the middleman between the buyer and the seller. He is authorized to draft the agreement between the buyer and the seller.

The Visits
According to the needs of the buyer, our real estate partners organize visits to the properties which seem to suit to their needs. They present him the properties, giving him all the details about them.

The Sale Agreement
An agreement is a legal document regulated by a series of laws concerning real estate, only a professional can inform and explain to the buyer and the seller all these laws (lots of different regulations depending on the sort of properties).
When a property interests the client, before the authentic deed, the buyer and the seller will sign what we call in France a "sale agreement", which is a preliminary contract which links the seller to the buyer. As real estate agents with a professional card, our partners are authorized to draft this agreement.
On this agreement, all the obligations of the seller and the buyer are detailed and information on the property is also provided:
- the property description
- the price, including the agency fees, with out the solicitor fees (approx. 7% of the price)
- the financial plan of the buyer : with or without a banking loan. If the loan is refused by the banks, the buyer does not have to purchase the property, in this case he will not have to pay any reparation to the seller or the agency and he will get back his deposit
- the preemption rights : in France, some public organizations can decide to purchase the property, in this case the buyer cannot purchase the property, and so he will not have to pay any reparation to the seller or the agency and he will get back his deposit
- the seller's mortgage : the property cannot be sold if the seller has a mortage above the price of the sale
- the french legal obligations for the seller : loi "Carrez" (law for apartments, the seller has to supply a certificate of the surface), asbestos diagnosis (if the property has been built before 1997), lead diagnosis (for property built before 1948 and situated in certain areas defined by the Prefecture), termite diagnosis (for properties located in certain areas defined by the Prefecture)
- the solicitor : each party can have it's own solicitor, note that if there are two solicitors, the solicitor fees are the same as if there is only one solicitor
- the maximum date of the signature of the authentic deed, that is to say the date when the buyer really buys the house and becomes the owner
- the paiment of the deposit to the agency or to the solicitor (a maximum of 10% of the price)
- the withdrawal right of the buyers : in France, the buyer has seven days from the day after the reception or the delivery into his own hands of this agreement to change his mind.
Note that in France, the seller does not have to give to the buyer a complete expert evaluation of the property (electricity, heating...).
Throughout the duration of the agreement and up to the authentic deed, our partners take care to verify the financing of the buyer, stay in contact with the solicitor, and take charge of progress of this file.
Furthermore, their legal training and intention to be informed at any time of the legislative changes are " trump cards " in the service of the seller as well as the buyer, knowledge which are often underestimated but which allow to proceed in a professional and effective manner.
We understand that in France, the seller can try to sale his property himself, but note that because he is not aware of all the regulations, lots of these direct sales do not go trough to the end. When you ask for a professionnal, he will act responsibly and will do all that is necessary to conclude the transaction.

The Authentic Deed
The signature of the authentic deed usually occures in the office of the buyer's solicitor. The authentic deed means that the buyer pays the price of the property and becomes legally the owner. Of course, our partners assist personally to this signature.