Guide to buying a property in France
Steps in the buying process:
From your initial enquiry, we will assign you with a dedicated Beaux Villages property consultant to help with your search and guide you through the French buying process. Our property consultants take part in extensive training every year, and have personally experienced buying and selling in France themselves. They will be with you at every step of the journey, all the way to the moment you get the keys to your new home.
1. Your Offer is Accepted - Initial Steps
When your offer is accepted, you may be required to provide proof of funds, such as a bank statement, mortgage simulation, or proof of an ongoing sale. Both you and the vendor will then sign a Letter of Intent (LOI), which formalises the verbal agreement and temporarily reserves the property while the Compromis de Vente (CDV), the preliminary agreement, is prepared.
2. Compromis de Vente & Cooling-Off Period
The Compromis de Vente (CDV) is a legally binding agreement between buyer and seller that outlines the terms of the sale. The notaire or Beaux Villages Immobilier will prepare this contract, incorporating necessary legal documents, including property diagnostic reports. The CDV is typically signed within six weeks of the offer being accepted, either in person, electronically, or via power of attorney if needed. A 10-day cooling-off period follows, during which you can withdraw without penalty. After this, the 10% deposit is due to the notaire, along with an initial payment for administrative costs.
3. Legal & Administrative Checks by Notaire
At this stage the notaire conducts essential legal checks, including verifying the property’s title, performing local authority searches, and ensuring all compliance documents are in place. In rare cases, certain government bodies may have the right to purchase the property instead. Once checks are complete, the final deed (Acte de Vente) is prepared.
4. Finalise Financial & Insurance Requirements
Approximately one week before signing the final deed, the notaire provides an exact breakdown of the final payment, which includes the purchase balance and notaire’s fees. Home insurance must be arranged, as proof of coverage is required for the final signing. Assistance is available to ensure everything is in place before completion.
5. Pre-Signing Inspection & Utility Transfers
Before signing the Acte de Vente (ADV), you will have the opportunity to re-inspect the property, ensuring it remains in the expected condition and that all agreed inclusions or exclusions are in place. Your property consultant will assist with meter readings and preparing information for utility transfers. You will also need a French bank account for automatic utility payments.
6. Acte de Vente - Transfer of ownership!
The final step in the purchase process is signing the Acte de Vente (ADV), the official sales contract, which legally transfers ownership of the property. This is usually completed at the notaire’s office, either in person or via power of attorney if you cannot attend. Your property consultant will be available to assist and ensure the process runs smoothly.
Key terms during the French property buying process:
The final act to sign to complete the property purchase.
The initial sales contract. This can also be referred to as the Preliminary Sales Agreement (PSA) or Promesse de vente.
This includes a DPE (energy efficiency report),which will be available with the property listing and an ERP report (risk and pollution), which you can ask for when you’re looking at properties. There will also be further reports for the CDV on lead, asbestos, electrics, termites, natural and technological risk. Sometimes, a drainage report needs to be carried out as well.
A pre-contract document to sign to show you intend to buy and the vendor agrees to sell the property at the agreed price.
A public and ministerial officer responsible for authenticating documents on behalf of clients. They are compulsory for any transaction affecting real estate in France.
Power of attorney. Signing a procuration will allow the notaire’s clerk to sign on your behalf if you can’t be present at the signing of the contracts.
A document from the bank that contains the name of the account holder and their account details. This is used to facilitate bank transfers.
They are the French-government regulated agricultural body. They have the right of first refusal on the purchase of the property.
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