Perhaps a French farmhouse is your dream?
Plenty of people look at property for sale in France through rose-tinted glasses. It’s easily done – especially if you’re mixing a French property hunting trip with a vacation. A bit of warm sun, the chance to relax, a nice lunch with a glass or two of wine… common sense can go straight out the window!
I’ve done it myself. Fortunately most of the time we get the chance to correct our errors but for those new to the French property market I thought I would do a quick run through of the French house buying process…
So you book your appointments with your French property agents, go along and see the house, fall in love with it and decide it’s your dream. Nothing else will do. Like I say, we’ve all done it.
First thing you have to do is sign an agreement to purchase called a Compromis De Vente. This is a legal document and sets out a number of things, amongst them is that the owner has the right to sell, it says where the property is, and what price is agreed to be payed.
At the same time as signing the compromis de vente you must also pay a 10% deposit. You then have a 7 day cooling off period. After that, in almost all cases, if you try to pull out of the deal you will lose your money.
So you can see that when you’re buying French property it’s kind of important to understand the compromis de vente!
If you don’t, I would suggest you get it translated before you sign anything.
One useful thing you can have added to this document is clauses suspentives – provisions that must be satisfied in order for the sale to proceed. There is a tremendous variation in property for sale in France so clauses suspentives can take almost any form. Could be planning permission, could be that you will buy provided you can get a certain extra piece of land, could be that you want a survey done, could be that you want the heating or electric checked out.
You can try to add anything. Try being the operative word. The vendor of your French property has the right to allow or refuse any clause so a period of negotiation might happen.
One good thing about the French property buying process is that once both parties sign the compromise de vente the property is pretty much yours. It is taken off the market and no further offers can be made.
I should perhaps make a note here about prices. If the price of a French property is set at 200,000 Euros then it cannot be sold for more than that. It’s actually illegal for someone to accept an offer of, for example, 210,000 Euros. So when you are searching for French property bear in mind that while nearly everybody does negotiate, an offer at the asking price usually secures it.
OK, let’s assume the compromis de vente is to your satisfaction. You and the vendor sign it and a copy is mailed to you. You may or may not meet the vendor, you probably won’t both be at the signing at the same time. Frequently the signing is done at the agent’s office, sometimes at a notaire (notaires are a bit like solicitors – they do all the official paperwork).
A date is usually set for completion when you will sign the Act de Vente – the official paperwork to transfer the property to you. This will usually be about three months into the future but can be less. In the meantime all kinds of checks are done.
When we bought our French house there were tests for the presence of lead (plomb), asbestos (amiante) and termites (termites). Rules have changed – and are continuing to change – so it’s important that you check and understand the process.
Assuming all goes smoothly – and if you’ve done your homework it should – then on the appointed day you and the vendor meet at the notaire. You need to have arranged for all monies to be at the notaires by this date. He or she is acting for the government, not you or the vendor, so you should have no fears on that count. The notaire will explain a few things, you sign the paperwork and the place is yours.
If your French isn’t very good you might want to arrange for a translator to be there so you understand everything. There are lots of foreign buyers of French property so notaires are quite used to this.
That’s it, congratulations, you are now the proud owner of your French home!
There are no “deeds” as such to a French house but you will receive plenty of paperwork – mostly copies of what you signed – from the notaire eventually. Some months later you might also receive a small check – usually under 100 Euros. This rather bizarre event happens because part of what you pay on the day you sign the act de vente are taxes to the French government and they almost invariably slightly over-estimate the amount. Don’t ask me why.
What then happens is people forget all about it until a check arrives in the mail. It’s usually enough for a decent meal for two so why not just celebrate it!
In a nutshell, that’s your process for buying almost any kind of property for sale in France. There is an oddity that is rare but can happen. If the local Mayor thinks a property in his or her local area (commune) is of particular importance he can purchase it. In that case you’re just going to have to look for something else because there is no right of appeal and no negotiation.
As I say, it’s quite rare and usually happens before the compromis de vente stage anyway.
This isn’t a detailed explanation, it’s just an overview. you really must check for yourself.
Rules change. When we bought, getting a survey of a French house was practically unheard of. In the last few years there have been many new regulations and there are more in the pipeline. Make sure you understand. If you aren’t confident in your command of the French language, get things translated. Don’t just trust an English speaker who might say “Oh don’t worry about that, nobody bothers” or “that will be OK”. You are about to spend a lot of money. You wouldn’t take risks in your own country, why do so here?
Never forget an agent is working for the vendor – not you. Ask as many awkward questions as you can. If you’re not sure, walk away. I guarantee there is another French dream house out there for you somewhere. Try and keep your rose-tinted glasses in your pocket!
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