Purchasing process

As in most other countries, the process of purchasing a property in France can be quite complex and can take some time.

The French Property Experts Ltd can assist you every step of the way to ensure a smooth and hassle free purchase, taking care of the complications normally associated with the purchase of a property.

Purchasing a property step by step

Blocking a property

Once you have selected a property, the first step is to “block it”, in other words, to ask the property promoter to put the property aside for you.
Once blocked, a property will stay in your name only for a short period of time. During this time you should be able to appoint an English speaking notaire and ask him/her to review the contract briefly and to advise you on whether you should sign a reservation contract (this is only a brief review of the contract, your notaire should review it in detail later on).

Reservation contract

You will then be asked to sign a reservation contract, possibly along with a lease agreement in the case of a leaseback. We will be responsible for sending this to the property promoter.

Along with the reservation contract, a deposit payment, usually of 5%, is sent. All payments are made to the vendor’s notaire.

At this stage, you will need to start arranging finance for the purchase.

Cooling off period

Within two to three weeks of sending out the reservation contract you will receive confirmation from the vendor’s notaire by registered post. This denotes the beginning of your seven days’ cooling off period.

During your cooling off period, you may cancel your reservation by registered post. In this case your entire deposit will be returned and the reservation will be cancelled.
Depending on contracts cooling off periods may be longer and / or start at different stages of the purchase process.

Financing your purchase

You normally have a period of six weeks within which you should have received a mortgage offer. If using a French financial institution, you will receive a mortgage offer from them which you will be asked to sign.

You will then need to open a French bank account and have mortgage cover put in place. Most financial institutions will assist you with both steps.

Please note that we offer assistance with financing your French property purchase.

In most cases all forms and paper work will be provided to you in English.

Signing the contract

Once your mortgage is in place, your notaire will be in a position to set up a date when you will sign the deed to the property. This can be done either at your notaire’s office in France, or by using a proxy (procuration) allowing you to proceed with the transaction without having to travel to France.
The property will then legally belong to you.

For further information please do not hesitate to contact us.