LEGAL PURCHASE PROCESS OF A PROPERTY IN FRANCE
THE OFFER Usually called: Lettre de proposition d’achat
When buyers are ready to move forward with the acquisition phase, they submit an official letter of offer to their agency, which will forward it to the sellers. The sellers may wish to negotiate the terms and/or the price, but once the terms are agreed upon, the seller will countersign the offer to confirm their acceptance. Once the offer is accepted, both buyers and sellers are legally obligated to sign a Compromis de Vente (Sales Agreement) or Promesse de Vente (Preliminary Sales Agreement) with the notary, within the timeframe and under the conditions specified in the letter of offer.
PRE-SALES AGREEMENT
Usually called: Compromis de vente or Promesse de vente. The Compromis de Vente and the Promesse de Vente are the official contracts, signed at the notary's office, to ensure the transfer of ownership from the seller to the buyer. They include the personal information of both the seller and buyer, a description of the property, the sale price, intermediary fees, the financing plan, any suspensive conditions, and the completion date. At the time of signing, the buyer pays a deposit, as specified in the document, into the notary’s escrow account. Under French law, the buyer has a 10-day cooling-off period, during which they may withdraw from the agreement by registered mail. The seller, however, is legally bound to the sale as soon as the contract is signed. The main difference between a Promesse de Vente and a Compromis de Vente lies in their respective commitments: Promesse de Vente: Binds only the seller, who agrees to reserve the property for the buyer. The buyer has a fixed period to exercise their option to purchase, usually in exchange for an immobilization indemnity. Compromis de Vente: Binds both parties (seller and buyer). Both are firmly committed to completing the sale, subject to the fulfilment of any suspensive conditions. Your notary will advise you on the best option.
FINAL SALES AGREEMENT AT THE NOTARY OFFICE Usually called: Acte Authentique à l’Office Notarial
The final sales deed is signed approximately two to three months after the Pre-Sales Contract. This period allows the notary to ensure compliance with all legal requirements, guarantee the authenticity of the contract, verify ownership titles and the property’s legal status, and oversee the transfer and allocation of funds (sale price, mortgage, taxes, and agency fees). Before the signing, the notary conducts local search procedures and verifies legal, fiscal, mortgage, and urban planning aspects of the property, easements, and encumbrances. We assist you throughout the entire process, attending meetings at the notary’s office with you or on your behalf if you cannot be present. The buyer must provide proof of home insurance effective from the date of purchase, when signing the final sales deed and Transfer of Title.
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