A common question I often get asked is "if I see the property I want to buy in France and make an offer on it, what happens next"?
Once you have made your offer on a property in France and it has been accepted the 'Compromis de Vente' is the first document you will sign. It details the main terms of the agreement between the buyer and the seller.
Normally you (the buyer) will pay a 10% deposit on signing the agreement, which is held by the notaire. The agreement has to be signed by both parties and it is a legally binding agreement – there is a 10 day cooling off period and certain clauses can be added in ie. 'subject to mortgage application' or 'subject to CU being granted' etc.
The 'Compromis de Vente' will include an estimated date when the 'Acte Authentique' (the contract of sale) is ready to be signed. Note that this date is not legally binding and is really used as a target date. For the the agreement to be drawn up you will need to provide your passport, marriage / divorce papers. If you are borrowing money you will also need the relevant paperwork.
So if you are planning a viewing trip to look for your perfect property in France and want to act quick when you find it, take these documents with you! If you have any specific questions about buying a house in France then get in touch and I would be only to happy to help.
Blog submitted by: Sharon at Cle France.
