Buying A Property In France ………………………Some useful tips

The viewing trip

Before going to France , make sure you have appointments booked with agents. Few agents can handle ‘walk-in' appointments.

Speak to the agent before going. You'll feel more comfortable going there on the day if you've already spoken to your local expert.

You should always check that the houses on the website (or the ones sent to you) are still on the market. It is hard for agents to keep these listings up-to-date but it is essential for your information. (TV shows are notorious for showing out-of-date prices due to the ‘lead-in' time on filming; you don't want your agent to be suffering from the same problem!)

It's a good idea to book your travel first. No agent (or client!) likes to schedule an appointment and then re-schedule when you find you can't get the right travel arrangements in place. See if you can hold an appointment time whilst you book your travel; you should be able to confirm within 24 hours.

Allow a full day to view properties. This is important to see the range of properties necessary and a full day will provide ample time to see them properly. Make sure the agent is planning to spend the whole day with you too!

Try to travel at least one day before viewing properties. Ideally, you should travel day 1, see the area - day 2 & 3 view properties -leaving day 4 for a second look, or to start on the paperwork.

As you will read in the following section, the process of buying is contractually binding much earlier in France than in the UK . In almost all circumstances, you'll need to have the finances in place before you commit to the purchase; the process will make no provision or condition for the sale of your property in the UK .

The day viewing properties

Meet the French agent in their office. It is not advisable to meet people who offer to see you in the car park opposite the town square.

You'll be asked to sign some paperwork before going out to see houses. This could be a bon pour visite or a mandat de recherche. Neither commits you to buying anything, but they do prove which agent has shown you which properties and this protects their commission should you decide to buy one seen with them. All agents should ask you to sign one or the other, so don't be daunted by it.

Buying the property

Once you have decided on the property you want to buy, you should contact the agent; you may still be in their office, of course.

Make sure you know the numbers. There are quite a few fees in France and, usually, the buyer pays them all. On top of the 'net' purchase price of the property, you will need to add the notaire's fees (these include government tax on the transaction; the equivalent of the UK 's stamp duty), usually about 6-8% of net purchase price. You will also have to pay the French agent's fees and these can vary, anything from 4 - 15%, though 7 – 8% is most often seen.

NB The price as displayed in a French agent's window should include the French agent's fee (the price should be followed by the letters F.A.I. if this is the case). It will not include the notaire's fee, so you'll need to add this when comparing the prices in windows.

If you are to use your own legal representative, you'll have those fees to add to the total, also. When looking at websites, as well as through your French agent's books, always ask exactly which fees are included in the prices.

Making an offer: your agent should be able to advise you on the requirements of the vendor, price-wise, though the UK culture of offering considerably less than the asking price can cause offence and lead to problems. Follow the agent's advice and you should be fine.

Make sure you know what you are buying! You should be able to see the plans of the property and its land before you agree to make an offer.

Now, the agent will contact the vendor and submit your offer. Once accepted, the full process begins!

The progress of the sale should be monitored throughout to ensure all deadlines are met and all contractual matters are arranged to your satisfaction. The whole process should take 3-4 months from offer accepted to signing the final contract in France .

The compromis (first contract)

The compromis is usually the first document you will sign, though you may be asked to sign a promesse d'achat, especially if you are making an offer below the mandated house price. This shows the vendor your commitment to buying at the offered price. The compromis is legally binding and is therefore a very important document.

The compromis is really the first draft of the final contract. Basically, it sets out the details of the purchase (what you are buying) and those involved in it (the vendor and the buyer) as well as showing how much you are paying (including what the fees are). It has to be signed by both vendor and purchaser.

Once the compromis is signed by both parties, it is returned to the purchaser who then has a 7-day cooling off period. During this time, the purchaser can withdraw from the sale with no penalty incurred. The same privilege is not given to the vendor.

Once the 7-day cooling off period is complete, the contract is binding on both parties. It is at this time that the deposit is due (occasionally, deposits can be required sooner but these cases are rare and you should consult a French property specialist if you are asked to pay before this time). The deposit required is usually 10% of the net purchase price but can sometimes be less.

By now, the compromis is a binding contract (subject to clauses suspensives; see below) and withdrawal could result in the loss of your 10% deposit.

There are clauses that can be inserted into the compromis to allow withdrawal from the purchase in certain circumstances (clauses suspensives). These include such instances as negative results from termite surveys or being turned down for a French mortgage. They may also, for instance, make the contract conditional on receiving outline planning permission for turning outbuildings into living spaces. These clauses should be discussed carefully with your agent or your legal representative at the time of making the offer.

In order to have the compromis drawn up, you will need to provide: your passport and relevant marriage and divorce papers. If you're borrowing money to purchase the property, you'll need paperwork with details of the loan.

In the ideal scenario, you will take this documentation with you on your search trip, allowing the process of drawing up the compromis to begin immediately. You should expect the compromis to take 3-4 weeks to arrive with you, probably back in the UK , unless you have been able to sign it in France .

If you haven't already, you should definitely seek advice once you receive the compromis and you'll probably want to have it translated by experts.

Once you have agreed to buy the house, you should change your money. You are tied to a purchase in euros and, until you change your money (or reserve your rate), you will not know how many UK pounds that is going to cost you.

Searches, surveys and inheritance

Compromis signed, deposit paid, euros secured: what now? The searches begin on the property: ownership, land boundaries, rights of way, termite checks, lead and asbestos surveys. The notaire is responsible for ensuring these are done and you do not need to pay separately for these.

Surveys are not always done in France . Unlike the UK , even banks lending on property often only drive by the property to check it's there! There are surveyors in France and you can have a full UK-type survey done but many buyers in France do not take this option. Many will have a registered builder's opinion on the property. You should discuss the options with your agent when first deciding to buy the property.

You will need to take advice on your inheritance provision. The inheritance of your property is subject to French law and the provision made has to be included in the house-buying contract. You should consult your legal representative on this matter.

The final signing

It is important to make sure you transfer the balance of your payment to the notaire's account in plenty of time for the signing date. This date should have been agreed with the vendor, via your agent or legal representative and it is important you meet the deadline. Missing the completion date can mean you lose the house and the deposit! This may also involve your mortgage lender who, where relevant, must ensure the completion monies are in the notaire's account in plenty of time. No transaction will complete until all monies have been cleared in the notaire's account.

The signing in France is definitely an occasion to attend. Held in the notaire's office, the formality of the day perfectly underlines the significance of the transaction, the handing over of a property from one family to another.

If you are not able to be in France for the signing, you can arrange a power of attorney for it to be signed in your absence. You should consult your legal representative on this matter.

Your agent should arrange for you to view the property on the day of the signing. Effectively, the final contract (project) has a clause saying 'sold as seen on signing date', so it's important you know what state it's in! Money cleared, contract read, understood and signed: the property is yours !