Moving & Relocating : Buy French Property
By Helen Simpson on July 15, 2009
France is a popular spot for owning an estate, whether it is a permanent establishment or vacation home. It is so popular because the it’s easy to get to, the weather is incomparable, and the type of lifestyle you want to live is within easy reach. So, how do you find a french property – and what should you know about the buying process?
Research the regions of France for local weather and character, accessibility, prices, countryside and architecture. Websites and real estate brochures will help you do it, because most of them don’t just list properties you can buy; they provide guides to the region and expert legal and practical advice.
A property fact finding mission is a good idea. Leave one of your weekends open in order to see the sights of your favorite regions and to look at properties. Make sure that you have meetings already set up with estate agents as well as an interpreter, if one is needed, before you go. This will save you time because a list of homes will be prepared and precious time will not be wasted looking at properties that are either out of reach or unsuitable.
When you find a piece of French estate you fancy, don’t obligate yourself to anything right away, especially if under pressure to endorse a contract. You must first acquire a structural survey and appraisal report. A proper survey may even reveal problems that enable you to negotiate a reduction in price. A bilingual solicitor specializing in French property can give you advice on contracts, as well as French conveyancing law.
The actual purchase will happen in two steps. After you’ve chosen a property and agreed on a price, you’ll probably be asked to sign a contract for a preliminary purchase, and pay a deposit, usually of 10% of the price of your purchase.
The promissory purchase contract is legally binding and subject to the laws of the the area. The next step is signing an acte de vente (deed of sale), which is done once ownership of the estate is signed over to you and the full sum of the buying fees are paid.
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