In France, Notaires have exclusive authority for preparing and drafting deeds of sale.
Once you have chosen a property and agreed on the purchase price, you will typically be asked to sign a preliminary contract which may be drafted by an estate agent or by the notaire.
You will also be required to pay a deposit, usually 10% of the purchase price.
There is a mandatory cooling off period of ten days during which the purchaser may withdraw.
As part of the sale process, the seller is required to arrange for a number of inspection reports on the property
The main reports currently produced relate to :
Asbestos , lead , termites , energy efficiency , environmental, mining and industrial risks , gas installations, electrical wiring, septic tanks.
After the preliminary contract has been signed, the notaire will check :
-that each contracting party is qualified and empowered to sell or purchase the property
- that the seller has a valid title to the property
- that the title of ownership does not contain any easements or restrictions,
- that no mortgage or charges exist over the property and that all rights of pre- emption have been waived.
After completion, the Notaire is responsible for having the title deed recorded at the Land Registry.
Finally, consideration must be given at an early stage to who is going to purchase the property.
The answer to this question will depend on the personal circumstances of the purchaser, the situation regarding inheritance taxes and the legal implications arising from the purchase.
Please feel free to contact Alexandra ETASSE before signing the preliminary contract to obtain further information and to analyse together what is the most suitable ownership arrangement for you in the purchase of a property in France