So, you've searched the papers, internet or estate agents and found your dream house in France.
It's within your budget and in the area you want.
The next step is to either to send an Independent Viewing Consultant to view and report on your behalf, or for you to make your own arrangements with the seller or agent and view yourself.
When viewing, be polite of course, but try and remain impartial.
If you appear too eager and excited, you may find negotiations trickier if you decide to buy, and you may not get much off the asking price.
Try and find a couple of faults in the property to aid with negotiations.
If you send out an Independent Consultant, his reports will always be totally impartial and without bias, so you will be able to get a clearer view of the property status.
Once viewing is complete and you have decided that this is the property you want, what to do next? How does house buying in France work? What should be expected? What follows is a basic overview of the house buying procedure in France.
Firstly, of course, you need to make an offer.
The asking price will be in euros, and may or may not include immobliers (French name for estate agent) fees.
Generally these fees are included, but it is always advisable to find out if the price does include those fees as it is the buyer who pays for it.
Notaire's fees, however, are never included in the price, so you should make allowances for this.
Attempt to negotiate a lower price, it's always worthwhile, and if the seller is desperate to sell, they may accept a much lower figure.
While your offer is under consideration, it is advisable for you to get an experts opinion regarding the structural state of the property.
Although building surveys are not normally done in France, it is still possible to get one as there are some surveyors in France.
Use the internet or French property magazines to search for more.
If you decide not to get a survey done, you can at least get a registered builder to check the property out for you and he will highlight any potential problem areas.
If you need a mortgage, now's the time to start the ball rolling.
You cannot apply for a mortgage until you have a contract, but you can add the words 'purchase of property subject to obtaining a mortgage' into it which covers you while you try to get finance.
You must make reasonable attempts to receive finance as this is not an easy get out clause.
Also note that notaires normally make an extra charge for registering mortgage holder's interests.
As previously stated, the notaire is the lawyer in charge of the legal aspects of the sale of the property.
The notaire acts for both parties and is impartial and unbiased.
The buyer pays the notaire's fees and relevant taxes, which is generally 7 to 8% of the agreed purchase price of the property.
So, a price on the property has been agreed.
The immoblier (or the sellers, if an immoblier hasn't been used) prepare a document called the 'Compromis de Vente' (Promise to Buy).
This is the contract.
Both parties sign this.
It can include certain conditions such as 'subject to mortgage being secured', 'obtaining planning permission', 'termite inspection being clear', 'any repairs to be undertaken by the sellers' and so on.
You will need to provide your passport, marriage and divorce papers as applicable, birth certificates and details on your mortgage should you be applying for one.
Most contracts generally include an asbestos, termite and lead report which are obtained by the sellers.
All contracts normally contain a seven day cooling off period in which the buyer can withdraw without penalty.
The seller, however, cannot.
Should you wish to withdraw, a registered letter must be received by the notaire within the cooling off period.
A deposit for the property is normally made at time of signing the Compromis de Vente, although sometimes it is paid at the end of the cooling off period and is generally around 10% of the purchase price.
This amount is paid to the notaire and never to the seller.
It is important to note that should you withdraw from the sale after the cooling off period, you could lose this deposit.
Once the Compromis de Vente has been signed, the property is taken off the market making gazumping impossible.
The search process begins after the cooling off period and the notaire will search for things like rights of way; lead, termite and asbestos surveys; property boundaries and ownership.
All searches are included within the notaires fees.
The sale of a property in France generally takes around three months from the signing of the Compromis de Vente.
Before completion (the Acte de Vente, the act of sale), the balance of monies, including legal fees, must be paid into the notaires bank account before the completion date.
You will be given notification of this amount by letter by the notaire.
If you fail to put the money into the notaires account in time, you could lose your deposit and the sale.
It is also advisable to inspect the property on the day of completion before settlement, as the sale is 'sold as seen on the selling date'.
The Acte de Vente is concluded in the notaires office and you will be required to attend along with the sellers.
If you cannot make it in person, it is possible for you to appoint a power of attorney and send in your place.
It is also possible for an independent translator to attend if your French is not up to it.
Upon completion, you will be given the keys to your new property in France.
The title deeds are generally kept by the notaire, but you can request an authorized copy.
Be aware, that as soon as you become the owner, you are legally bound to having the property insured.
Congratulations, you are now a property owner in France.
It's within your budget and in the area you want.
The next step is to either to send an Independent Viewing Consultant to view and report on your behalf, or for you to make your own arrangements with the seller or agent and view yourself.
When viewing, be polite of course, but try and remain impartial.
If you appear too eager and excited, you may find negotiations trickier if you decide to buy, and you may not get much off the asking price.
Try and find a couple of faults in the property to aid with negotiations.
If you send out an Independent Consultant, his reports will always be totally impartial and without bias, so you will be able to get a clearer view of the property status.
Once viewing is complete and you have decided that this is the property you want, what to do next? How does house buying in France work? What should be expected? What follows is a basic overview of the house buying procedure in France.
Firstly, of course, you need to make an offer.
The asking price will be in euros, and may or may not include immobliers (French name for estate agent) fees.
Generally these fees are included, but it is always advisable to find out if the price does include those fees as it is the buyer who pays for it.
Notaire's fees, however, are never included in the price, so you should make allowances for this.
Attempt to negotiate a lower price, it's always worthwhile, and if the seller is desperate to sell, they may accept a much lower figure.
While your offer is under consideration, it is advisable for you to get an experts opinion regarding the structural state of the property.
Although building surveys are not normally done in France, it is still possible to get one as there are some surveyors in France.
Use the internet or French property magazines to search for more.
If you decide not to get a survey done, you can at least get a registered builder to check the property out for you and he will highlight any potential problem areas.
If you need a mortgage, now's the time to start the ball rolling.
You cannot apply for a mortgage until you have a contract, but you can add the words 'purchase of property subject to obtaining a mortgage' into it which covers you while you try to get finance.
You must make reasonable attempts to receive finance as this is not an easy get out clause.
Also note that notaires normally make an extra charge for registering mortgage holder's interests.
As previously stated, the notaire is the lawyer in charge of the legal aspects of the sale of the property.
The notaire acts for both parties and is impartial and unbiased.
The buyer pays the notaire's fees and relevant taxes, which is generally 7 to 8% of the agreed purchase price of the property.
So, a price on the property has been agreed.
The immoblier (or the sellers, if an immoblier hasn't been used) prepare a document called the 'Compromis de Vente' (Promise to Buy).
This is the contract.
Both parties sign this.
It can include certain conditions such as 'subject to mortgage being secured', 'obtaining planning permission', 'termite inspection being clear', 'any repairs to be undertaken by the sellers' and so on.
You will need to provide your passport, marriage and divorce papers as applicable, birth certificates and details on your mortgage should you be applying for one.
Most contracts generally include an asbestos, termite and lead report which are obtained by the sellers.
All contracts normally contain a seven day cooling off period in which the buyer can withdraw without penalty.
The seller, however, cannot.
Should you wish to withdraw, a registered letter must be received by the notaire within the cooling off period.
A deposit for the property is normally made at time of signing the Compromis de Vente, although sometimes it is paid at the end of the cooling off period and is generally around 10% of the purchase price.
This amount is paid to the notaire and never to the seller.
It is important to note that should you withdraw from the sale after the cooling off period, you could lose this deposit.
Once the Compromis de Vente has been signed, the property is taken off the market making gazumping impossible.
The search process begins after the cooling off period and the notaire will search for things like rights of way; lead, termite and asbestos surveys; property boundaries and ownership.
All searches are included within the notaires fees.
The sale of a property in France generally takes around three months from the signing of the Compromis de Vente.
Before completion (the Acte de Vente, the act of sale), the balance of monies, including legal fees, must be paid into the notaires bank account before the completion date.
You will be given notification of this amount by letter by the notaire.
If you fail to put the money into the notaires account in time, you could lose your deposit and the sale.
It is also advisable to inspect the property on the day of completion before settlement, as the sale is 'sold as seen on the selling date'.
The Acte de Vente is concluded in the notaires office and you will be required to attend along with the sellers.
If you cannot make it in person, it is possible for you to appoint a power of attorney and send in your place.
It is also possible for an independent translator to attend if your French is not up to it.
Upon completion, you will be given the keys to your new property in France.
The title deeds are generally kept by the notaire, but you can request an authorized copy.
Be aware, that as soon as you become the owner, you are legally bound to having the property insured.
Congratulations, you are now a property owner in France.
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