How does the buying process work in France?
When a suitable property has been found, the potential buyer contacts the estate agent or the owner and makes an offer. If the seller and buyer agree on the purchase price, an offer to buy is made. It is usually in the form of a written letter, stating that the buyer wishes to acquire the stated property for a stated price. Signature of an initial “compromis de vente” (sale agreement) is then organised by a “notaire” (notary). In order to draw up the contract, the notary requires the details of the buyer (full name, address, occupation, nationality, date of birth, marital status.) and information regarding any mortgage financing that is to be used to buy the property. A deposit corresponding to approximately 10% of the purchase price of the property is then transferred by the buyer to the notaire’s account. The date of signature of the final sale agreement is then set, usually around 60 days after the preliminary contract. More information on the buying process can be found here.
