French Properties with Rental Income Potential
Guide to the French Buying Process
1. Signing the Agreement (Compris)
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. The next step, once you are in agreement, is to sign the preliminary contract (Compromis de Vente). This is a legal document and after ten days will be binding on both parties. Rules change frequently in France and it is best to consult with your notary about when this period starts. Generally the compris will be signed in France with the Agent. Variants can be included in the compris, for example an Acte (clause) can be added if the name or names to go on the title deed have not been finalised. If a mortgage will be required to purchase the property, the details for this, including the name of the mortgage company, must be on the compris.
2. Paying the Deposit
Generally the deposit will be 10% of the agreed purchase price. This will normally be paid to the notaire. There are exceptions to this, if the agent holds a carte professionelle, is bonded and fully registered then you may pay them, but do not hand over the deposit to anyone else. If for some reason the purchase does not go through, for example, if you write to the notaire and the agent that you do not wish to go continue with the purchase before the contract is binding (within seven days of signing the compris), then your deposit would be repaid. This would also apply if a condition had not been met, or the mayor or S.A.F.E.R. (a government agency that has the right of first purchase on most rural property that comes onto the market in France) could oblige the purchaser to give way. If you decide after the seven days 'cooling off' period that you do not wish to complete the purchase and pull out of the sale you would lose your deposit. If however the vendor pulls out of the sale then you will receive your deposit back plus the same amount from the vendor.
3. On Completion
Generally it will take around two or three months to complete the purchase. During this time the balance of the purchase money must be paid into the account of the notaire, this must be done well ahead of the completion date. The notaire will prepare the documents, check that the deed of sale (Acte de Vente) is in order and have the legal title ready to be signed over. It is possible to have someone sign on your behalf if you give them power of attorney. An interpreter may be of use at this point if your French is not very good and many Notaires will suggest (or insist) that an interpreter is with you.
IMPORTANT - Disclaimer :
All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.
Charming and spacious 6 bedroom stone built home, with a total living area of 350m2, set within a lovely countryside plot of 1,000m2, located in quiet setting on the heights of Eze overlooking the se...
- Floor Size: 350 square metres
- Plot Size: 1,000 square metres (0.10 hectares / 0.25 acres)
- Bedrooms: 6
Modern and immaculately presented 5 bedroom villa, with an exclusive interior design, set within a 2,000m2 south facing landscaped gardens with palm and olive trees, swimming pool and stunning panoram...
- Floor Size: 370 square metres
- Plot Size: 2,000 square metres (0.20 hectares / 0.49 acres)
- Bedrooms: 5
Situated within a quiet and private setting in Provence, this superb 12th Century Medieval Castle has a vast total living area of 950m2, which includes 8 en-suite bedrooms, several reception areas, li...
- Floor Size: 950 square metres
- Plot Size: 67,687 square metres (6.77 hectares / 16.73 acres)
- Bedrooms: 12
Simply stunning 8 bedroom Belle Epoque villa, with the added advantage of having direct access to the waterfront and just a few steps from the beach, located close to Beaulieu-sur-Mer and the village ...
- Floor Size: 700 square metres
- Plot Size: 2,255 square metres (0.23 hectares / 0.56 acres)
- Bedrooms: 8
Situated right in the midst of nature, this superb rustic Andalusian eco-friendly farmhouse has a total spacious living area of 608m2 and is set on a large plot of 181,130m2 with a private well, susta...
- Floor Size: 608 square metres
- Plot Size: 181,130 square metres (18.11 hectares / 44.76 acres)
- Bedrooms: 4
Beautifully and totally restored French Chateau with various outbuildings, situated in a quiet setting within 55 acres of varied land in the Gers region, yet just a short drive from the bustling town ...
- Floor Size: 2,100 square metres
- Plot Size: 220,000 square metres (22.00 hectares / 54.36 acres)
- Bedrooms: 15
Spacious home and separate gite, with a total of 7 bedrooms, ideally situated within a quiet setting on the edge of Olonzac village with amenities, in Herault/Occitanie. Built in 1995 and exte...
- Floor Size: 182 square metres
- Plot Size: 1,800 square metres (0.18 hectares / 0.44 acres)
- Bedrooms: 7
Immaculately presented 6 bedroom penthouse apartment, ideally situated within a prestigious development with 3 luxurious chalets situated directly on the slopes of Courchevel. In a highly soug...
- Floor Size: 338 square metres
- Bedrooms: 6
Full of character and charm and beautifully refurbished whilst managing to maintained its original features, this spacious stone built property is ideally situated within a quiet setting in Vallespir....
- Floor Size: 548 square metres
- Plot Size: 129,130 square metres (12.91 hectares / 31.91 acres)
- Bedrooms: 9
Completely refurbished and beautifully presented 5 bedroom Provencal style villa, with a total spacious living area of 330m2, ideally situated within a dominant position with beautiful sea views. <...
- Floor Size: 330 square metres
- Plot Size: 5,000 square metres (0.50 hectares / 1.24 acres)
- Bedrooms: 5