Procedure for Buying / Selling Real Estate in France
After a suitable property is selected and negotiations conclude with an agreement on price and key terms (usually in the form of a written offer signed by both parties and considered morally binding), the buyer's agent contacts the notaire to prepare the compromis de vente (or promesse de vente - the preliminary sale agreement).
Once this document is signed by both parties, it becomes legally binding. At this stage, the buyer pays a deposit of 5-10% of the property price into the notaire's account.
Two notaires may be involved in the transaction (one representing the buyer, the other the seller). The notaire fees paid by the buyer do not increase compared to a transaction with a single notaire.
The preliminary agreement (compromis / promesse de vente) includes the completion date - the signing of the final notarial deed of sale (acte authentique).
Between signing the preliminary agreement and the final deed, the notaire performs all required legal checks: verifies clear title, absence of debts, encumbrances, pledges, or other third-party rights. These guarantees are provided by the notaire on behalf of the French state. The notaire also prepares the final deed of sale.
At the signing of the final notarial deed, the buyer transfers to the notaire:
- the remaining balance of the purchase price;
- the agency commission (typically 5% + VAT, already included in the asking price);
- notaire fees ("frais de notaire") - registration fees and transfer taxes, usually around 7.5-8% of the purchase price, and for new builds around 2-2.5%.
In France, the notaire is responsible for all legal aspects of the transaction once the terms are agreed, although the parties may additionally engage their own lawyer or consultant if they wish.
Real Estate Transactions in France
In France, the buyer has a cooling-off period (droit de retractation) of 10 business days from receipt of the official notice sent by the notaire by registered letter after signing the preliminary agreement. During this period, the buyer may withdraw from the transaction without providing reasons and without any penalties.
On average, the entire transaction takes about two months from signing the preliminary agreement to completing the purchase.
Total Costs Summary
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