Buyer's Guide

Vendor and buyer agree a price, any conditional clauses and the preliminary sales contract (compromis de vente) is signed by both parties. Buyer pays 5-10% of sale price to notaire (solicitor) and 7 day cooling off period starts (during which, buyer can withdraw but vendor may not).

You can include conditional clauses (clause suspensives) such as rights of way, planning permission or a mortgage application being approved.

Following the 7 days, the contract is legally binding and if the buyer pulls out, he forfeits his 10% deposit. This law applies to vendor also.

A mortgage approval–in-principal increases the chances of securing your property. If not, application should be made at this stage. The need to secure a mortgage would have been included as a clause in the compromis de vente and gives you the opportunity to pull out if your application is turned down. Once notaire is notified of mortgage details, contract of sale becomes unconditional.

Conveyancing by the notaire takes 2-3 months. Notaires often act for both buyer and seller (although you can select your own at no extra cost). The notaire sets date for exchange (acte de vente), balance payment is transferred and both parties sign.

Be sure to visit the property the day of completion because the acte de vente specifies ‘sold as seen’.

Keys and an ‘attestation de vente’ are issued and ownership is transferred. The final acte de vente papers are sent out a few months later.

The notaire will charge between 6.5-10 % in addition to the purchase price advertised. The purchase price advertised includes agent fees.

Mandatory reports on lead, asbestos, termites and flood zones are paid for by the vendor. They are only valid for a limited time and are presented at day of signing acte de vente.

An energy efficiency report (diagnostic de performance energetique), also mandatory, helps buyer compare properties on heating and cooling costs.

A natural disaster risk report for the location of the property is also provided.

If you are not fluent in French, it may be advisable to appoint an independent legal advisor with relevant experience of the French property purchasing procedure and remember to factor in legal fees to your budget. (see our website directory)

Your French property has to be insured in your name from the date of completion and the notaire requires a copy of the document at the signing of the acte de vente. This can be arranged anytime after the compromis de vente is signed.

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