Buying Property in France

The sale of property in France is strictly regulated and conducted by a Notary. Notaries are Government Officials and represents neither the buyer nor the seller. It is advisable to find a good solicitor with knowledge of both UK and French rules and regulations as they will be able to advise on any questions you may have and will know all inheritance rights that the Notary does not deal with. Normally your estate agent can recommend a good solicitor or alternatively engage a solicitor from a specialist company in the UK. If you are buying an apartment or a new property your solicitor can advise you on the variations in procedures.

The notary will draw up a "compromis de vente" which is the most commonly used form of purchase agreement. It is legally binding and records the agreement to buy and sell between vendor and purchaser. It will include both parties names, although it is advisable to insert an additional clause to add extra names, once the laws covering inheritance rights and/or taxation have been investigated. The document will cover the full details of the property to be sold, purchase price and any additional fees that may be incurred. It is advisable that you carry out a survey before you sign this document as the document will state that the vendor is not responsible for any defects. There will be an additional clause covering the mortgage (if applicable) on the property - this may state that you have to obtain your own mortgage or that the exisiting mortgage will be repaid from the sale. If you are responsible for completion not taking place for any reason you will forfeit your deposit and could be sued for losses incurred by the vendor. The contract will also specify a completion date. A deposit of 5 to 10 percent will be put into an escow until completion has taken place.

The buyer is responsible for for paying both the legal costs and taxes relating to the purchase. If you are buying a new property the notary fees will be between 2 and 3 percent. There will also be tax to pay of 19.6% (this may be included in the sale price - it is advisable to check this detail first). Older properties incur a notary fee of between 7 and 8 percent. Stamp duty and land registration fees are also to be paid on top of that.

The Notary will conduct various searches - it is up to you and your solicitor to do your own investigations into general planning proposals for the area - it is not the Notary's responsibility to notify you if, for example, a new motorway is planned to run through your property. Once the Notary has completed all his investigations he will draw up the "acte de vente" which when signed transfers the right of the property to you. You will then be given an "attestation" - a certificate proving right of ownership. The Notary will keep the original title deeds but after about six weeks you should be issued with a copy.

To find out more about the areas in France we have properties available to buy in, click here