What are the steps for purchasing property in France, once the seller and I have agreed on a price?
The preliminary sales agreement: promesse de vente or compromis de vente This step is an important one, as all the legal aspects of the final sales agreement are fixed at this time. That is, once the preliminary sales agreement is signed, the commitments of the parties to a contract are final and may not be modified. At this stage, the law does not impose the deed to be authentic, meaning it does not need to be supervised by a notaire. A lawyer or real estate agent, or even simply two individuals, may therefore draft the preliminary sales agreement. When the agreement is completed without a notaire, it is a “compromis de vente.” Notaires use a “promesse unilaterale de vente,” a far more secure form of agreement. Either document is signed by both the buyer and the seller. The best bet is ALWAYS to take this step under the supervision of a notaire, who is uniquely qualified to counsel clients and prepare the contracts, at no extra-cost. This is best both from a legal and a tax stand poin
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