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.
Unique opportunity to acquire a charming 3 bedroom house with 3 bedroom gite, pool and fully stocked fishing lake, nestling in nearly 15 acres of glorious land, enjoying far reaching countryside views...
- Floor Size: 280 square metres
- Plot Size: 60,000 square metres (6.00 hectares / 14.83 acres)
- Bedrooms: 6
Immaculately presented 3 bedroom Provencal villa with separate one bedroom studio and expansive pool, nestling in over half an acre of beautiful landscaped gardens, while enjoying far reaching uninter...
- Floor Size: 180 square metres
- Plot Size: 2,500 square metres (0.25 hectares / 0.62 acres)
- Bedrooms: 4
Outstanding new property in need of completion in a secure domaine close to the renowned golf course of Beauvallon in one of the most sought-after locations in the Bay of Saint-Tropez. This ex...
- Floor Size: 791 square metres
- Plot Size: 43,480 square metres (4.35 hectares / 10.74 acres)
- Bedrooms: 7
Absolutely outstanding 3 storey, 9 bedroom waterfront villa with separate one bedroom studio, expansive pool and tennis court, nestling in 2 acres of glorious landscaped gardens while enjoying breatht...
- Floor Size: 525 square metres
- Plot Size: 8,200 square metres (0.82 hectares / 2.03 acres)
- Bedrooms: 10
Unique opportunity to acquire an exceptional 12 bedroom South facing hotel with pool, nestling in over an acre of beautiful landscaped gardens, while enjoying breathtaking sea views from its prestigio...
- Floor Size: 595 square metres
- Plot Size: 4,619 square metres (0.46 hectares / 1.14 acres)
- Bedrooms: 12
This most impressive residence, including a 2 bedroom apartment and amazing infinity pool, is located near to Saint-Tropez and comes with a Helipad set in the beautifully landscaped garden, and a wond...
- Floor Size: 760 square metres
- Plot Size: 5,500 square metres (0.55 hectares / 1.36 acres)
- Bedrooms: 7
Magnificent 8 bedroom French chateau located in a quiet setting in Cahors, with a bright total living area of 600m2 with stunning high ceilings, magnificent fireplaces in each room and huge windows. <...
- Floor Size: 600 square metres
- Plot Size: 146,125 square metres (14.61 hectares / 36.11 acres)
- Bedrooms: 8
Charming 4 bedroom house, ideally situated within absolute calm, located in the Montfleury area of Cannes and only a 10 minute walk from rue d'Antibes. With around 190m2 of living area set out ...
- Floor Size: 190 square metres
- Bedrooms: 4
Delightful and versatile fully renovated 3 bedroom farmhouse with one bedroom gite and pool, located in a lovely area of Corbieres, just a short distance from the Mediterranean and Perpignan. ...
- Floor Size: 300 square metres
- Plot Size: 50,000 square metres (5.00 hectares / 12.36 acres)
- Bedrooms: 4
Charming 5 bedroom home within a group of lovely old stone buildings, set within a large plot of 11,604m2, accessed via woodland at the end of a lane and nestled quietly on the side of a valley.