Fees

PROPERTY PURCHASE/SALE PROCEDURE IN FRANCE

What does FAI mean and how much do you pay IMMO BTC?

In France, FAI means frais d’agence inclus: the agency fee is included in the advertised property price. Check the listing and mandate to see who is responsible for paying it and how it is shown in the price.

In a standard FAI transaction in France, the buyer pays no additional IMMO BTC fee above the advertised price. Our work is remunerated from the agency fee already included in that price.

Illustrative example in France: for a property advertised at €2,000,000 FAI, the standard additional IMMO BTC fee above that price is €0. Notarial and registration costs, borrowing costs and property works are not included in that price and must be budgeted separately.

If there is no agency fee to share, for example when buying directly from an owner, or you need a separate service, the scope, remuneration and payment arrangements are agreed in writing in advance. This page does not set a universal rate for those cases.

What total budget should you prepare beyond the property price? Work out your purchase and ownership budget.

Buying

Once a suitable property has been selected and negotiations have concluded with agreement on the price and main terms (usually recorded in a written offer signed by the parties), the notary is instructed to prepare a compromis de vente (preliminary sale agreement) or a promesse de vente (promise to sell).

Once signed by both parties, this document becomes legally binding.

At this stage, the buyer usually pays a deposit of 10% of the property price into the notary’s account.

Two notaries may be involved in the transaction — one representing the buyer and the other the seller. The notarial costs paid by the buyer do not increase compared with a transaction involving a single notary.

The preliminary agreement specifies the completion date — the day on which the final deed of sale (Acte de Vente) is signed.

Between the signing of the preliminary agreement and completion, the notary:

  • carries out a full legal review of the property;
  • confirms that the title is clear;
  • checks that there are no outstanding debts, mortgages, attachments or other encumbrances;
  • prepares the final deed of sale.

On completion day, the buyer transfers the following to the notary:

  • the remaining balance of the property price;
  • including the agency commission, with the agency’s remuneration determined by the terms of the listing or mandate. In standard FAI transactions, it is already included in the advertised price, with no additional IMMO BTC fee above that price;
  • Frais de Notaire — notarial and registration costs, including government duties, taxes and charges for registering the transfer of ownership.

Thus, once the parties have reached an agreement, the notary handles almost all legal aspects of the transaction. Each party nevertheless remains entitled to seek additional assistance from their own lawyer.

Features of property transactions in France

  • A non-professional buyer of residential property in France has a 10-calendar-day withdrawal period (droit de rétractation). It starts the day after the first presentation of the registered letter notifying the preliminary agreement, or its valid delivery as provided by law. Ask your notary to confirm notification, the required documents and your exact deadline. Within the applicable period, the buyer may withdraw without giving a reason and without penalties.
  • Frais de Notaire when buying a resale property usually amount to 7.5–8% of the property price.
  • When buying a new-build property (VEFA or a newly built home), notarial and registration costs are significantly lower and usually amount to around 2–2.5% of the property price, because government duties are substantially lower than for a resale property.
  • The average time to complete a transaction is around two months from the signing of the preliminary agreement to the execution of the final deed of sale.
  • In some cases, completion may take three months or longer, particularly if the property is subject to a local authority’s right of pre-emption (droit de préemption).

Service Public: preliminary agreements and withdrawal rights in France.