Purchase route France
Purchase route France
When you have found the house you want to buy then the whole process of buying in France also starts. Below are the different steps of the process
Bidding is a little different in France than in the Netherlands. Keep in mind French sensitivities. We can put you in touch with a Dutch-speaking party who will negotiate for you (purchase broker).
Start the application process well in advance. You may already be able to cut a little corner by submitting the application in advance as soon as possible. See “APPLICATION PROCESS.
In doubt about the structural condition of the house? Then have a building inspection performed. We can put you in touch with a Dutch-speaking inspection agency.
Buyer and seller choose a notary by mutual agreement. It is also possible to each choose their own notary. We can put you in touch with French notaries who also speak English or Dutch.
We can assist you in arranging a notarized power of attorney to complete the purchase from the Netherlands. We have contacts with a Dutch notary where the process of making the power of attorney can be arranged “remotely” (via video call).
The impetus for a purchase agreement(Compromis de Vente) is sometimes provided by the selling broker, but usually it is the notary who provides the first draft. We can put you in touch with a Dutch-speaking lawyer specializing in this who will check the draft agreement for you.
The condition precedent for financing is common in the French sales contract. Contact us for advice on content.
In addition to the condition precedent for financing, other reservations may be involved; for example, for obtaining a building permit.
The selling party takes care of the reports that are required to be attached to the purchase agreement. These are reports on such things as wood-eating insects, asbestos, lead-based paint, flood hazards, the septic tank and the energy rating of the house.
Preferential rights may be involved in properties for sale with a lot of land. In this process, adjacent landowners (mostly local farmers) are given the opportunity to buy pieces of land. The body that regulates this is the “Safer. This process takes 2 months, but there is an option for an expedited procedure.
After all parties sign the purchase agreement, the legal 10-day cooling-off period begins. A down payment of 5% to 10% of the purchase price is common and is made to the notary’s trust account.
The resultant of the mortgage application process is the receipt of the unconditional loan offer or also called the unconditional mortgage offer. Upon acceptance of the loan offer, the bank is ready to release the mortgage funds at the notary’s call and deposit them into the notary’s trust account.
When the sale is imminent, your home should be insured for fire (and theft). Hypotheek & Buitenland has contacts with several (Dutch-speaking) parties who can provide competitive quotations for this purpose.
Having a French bank account is indispensable when you own a home in France. Hypotheek & Buitenland can help you open a bank account “remotely” i.e. without having to physically go to France.
The notary prepares the deed of sale and requests the mortgage funds from the bank and asks the buyer to transfer the remaining portion of his own money to his third-party account. On the day the purchase deed is signed at the notary, ownership is officially transferred and the notary pays the seller the purchase price and settles all taxes due.
How long the buying process takes depends on what delaying elements are involved. Some trajectories last 2 months some 2 years.
