Question: Hi Alex, can you describe the buying process in France to me as a complete novice? a really basic step by step format please.
Thanks, Ernest.
Answer: Hi Ernest, here we go in basic terms the process of buying a house in France, for a more detailed version you can read a bit more on our "Buying Process - The Basics" webpage as well.
1. Unlike in the UK, in France the estate agent will accompany the buyer to see the house and does not give the address of the house before the viewing.
2. You make an offer, usually betwen 5% and 10% of the asking price [but this does vary] and once accepted by the seller, the buyer and the seller sign an initial contract called the "Compromis-de-Vente"
3. Then follows a 10 day cooling off period, during that time the buyer can change their mind about buying the property but the seller is already committed.
4. A deposit of 10% of the price of the house is paid at this stage to reserve the property.
5. The "Compromis-de-Vente" may include specific clauses or conditions, such as the sale being dependent on obtaining a mortgage arrangement or planning permission for example.
6. The "Notaire" then makes the conveyancing, a "Notaire" must always be used for the purchase of a property in France.
For everything you need to know about French property visit www.clefrance.co.uk