How to Buy Property in France

If you're looking to purchase property in France, the task ahead may seem daunting. However, the process of French real estate is actually fairly straightforward. It is also very different than buying homes or land in the United States. As confusing as the process may be, as a buyer, you're protected by a number of French laws, so you're in luck.

If you don’t know French or do not have a good grasp of it, you’ll want to hire a translator. This is for your protection, since you’ll be dealing with contracts. If you remember how contracts are written back home in the US, you’ll fully understand why you’ll want a translator for something like this. Mortgages in France come with some good rewards, including major tax advantages. This is why it's important to consider going with a loan from a French bank.

Once you make an offer on a property, you have committed to making the purchase. There need not be a written offer, so be careful not to accidentally say, “I’ll buy it.” Once the seller agrees to your offer, they will generally send a certified letter saying they agree. Under French law, you are given seven days from the date of receiving the letter of confirmation to pull out without penalty.

It is against French law for a seller or agent to ask you for any kind of deposit when an offer is made. That being said, don’t hand over any kind of deposit to the seller or agent. You should only be asked to give the deposit when the actual sale is being made.

There are two different types of contracts when buying French property: the Promesse de Vente and the Compromis de Vente. There isn’t really much that differs between the two, however, you’ll likely use a Compromis de Vente as they are more commonly used.

In France a notaire is used for purchasing the property instead of an agent. A notaire is a publicly appointed official who can often times be cheaper (cost is based on a fixed scale set by the French government.) If the seller insists that you not use a notaire, you have reason to be suspicious. Plus, a notaire is under the legal responsibility that you know what you’re signing. That being said, don’t pretend you know what’s being said. It’s better to play it safe and there are no dumb questions.

Notaires usually use their own version of a contract, which may be of advantage to one of the parties involved in the agreement. That’s why it’s important to have your own notaire present to make sure that the contract is fair for you. Once you sign the contract you are obligated to actually purchase the property subject to any conditions set by the contract and the seven day “cooling off” period. So, of course, don’t sign a contract unless you’re sure about it.

Make sure everything in the house you are buying is as it should be on the day before the contract closes. You don’t want to sign the contract to find that the previous owner took all the light fixtures a week before the contract closed. Take pictures if possible. This might seem strange, but it's something that can happen.

By now you know a few ins and outs of buying property in France, but you still may be a bit nervous about the process. This is normal. Remember that it's okay to ask your notaire questions. You may also want to ask other expats questions about how French real estate works as they will have advice that is more pertinent to your specific situation. And have fun! Owning a house in France has its benefits!