Buy in France

Acquisition costs.
These costs are paid by the buyer. In existing homes, they amount to about 7-8% of the purchase price. A smaller portion is the notary fees, the rest are taxes to the municipal, county and state. The exact percentage depends on the selling price and in which county the property is located. Best is to make a rough estimate of 7% on the existing property and 2.5% in the new production.

Brokerage.
These fees are embedded in the asking price, and the broker has in other words mission to sell to certain price and certain commission. If the buyer wishes so, he can choose to pay the brokerage. The advantage is that when the buyer will not have to pay notary the actual fee.

Election of the notary.
French people often have a family notary who follow the family during the different stages of life. A notary is a lawyer who specializes in real estate and family law. He has his own company and has its own customers, but under state supervision. The notary gives advice on all family economic matters (provided that he or she then must take care of, for example, the sale of the residence). Buyers and sellers can have its own notary. It does not cost more because notaries when parts of the fee. The notary also draws up wills, makes the inheritance

Letter of intent
The preliminary agreement or a so-called "compromis de vente" is the most important agreement in the whole process because it defines all the conditions of the sale. It can be written by the broker or by the notary. As in any other legal documents, only French is valid.

Now it is the buyer and seller agree on all conditions included in the sale. Some conditions are compulsory and defined by law, other terms are free conditions between the parties. Certain conditions may be such that if they are not met so the deal falls, such as conditions for loans. Signature of the seller is binding. However, the buyer can cancel the contract without cost to him. In connection with this Agreement shall also be paid a deposit, normally 10% of the purchase price. The deposit can be paid into the broker's client funds account, or to the notary.

Financing
A mortgage can be acquired with the condition that loans obtained from financial institutions. If this is in the "compromis de vente" has an obligation to request the loan within a certain stipulated time. Remember that it can take a long time to get the loan offer from the French bank. If the buyer does not receive the loan, the purchase back. Examine also the real costs of taking a loan. These may vary among other things depending on the type of bank guarantee requested.

Final Agreement
The final agreement, the so-called "acte authentique de vente ', is made only by the notary. It established after the notary gathered all necessary information on urban plans and if there are loans and to the bay sum, on the property. It is checked, for example, if the municipality has plans to build roads or large buildings in the area. The notary will then check the ownership. The notary also draws up loan documents. Between the "compromis de vente" and "acte authentique de vente" it usually takes two to three months.

Payment
The balance of the purchase price and transaction costs are preliminarily estimated and paid directly to the notary by bank transfer. The notary receives deferred payment and transfer it to the seller, usually a few days after signing the "acte authentique de vente". It is the notary who solves any assets and arrange new pledges if the buyer takes a loan. The notary also ensures that taxes, land registration fees, costs of raising new loans and brokerage fees paid.

Ownership Proof
Immediately after the signing of the purchase agreement "autentique acte de vente" so the buyer gets a so-called "attestation de vente". This document describes the dwelling and determine who is the owner. A few months later, the buyer gets a copy of "autentique acte de vente". This is a document of 20 to 40 pages. This statement is only then, and the buyer gets back the sum paid too much to the notary.

Access
Access to the house is almost always the same day as the signing of the final agreement. The notary receives the keys and can immediately go to the residence. As this always bought as is (if the seller is a private person), it is important to have the home inspected prior to entry.

Subscriptions for electricity, gas, water, telephone, internet, etc. Most importantly, home insurance that must apply from the date of possession.
The final reading of the previous subscription is normally handled by the broker, but the buyer can certainly attend. We will help with this!

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