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.
Magnificent 10 bedroom bastide with pool set in over 3 acres of glorious land, enjoying breathtaking views across the countryside down to the sea, located in the peaceful village of Magagnosc, Grasse,...
- Floor Size: 650 square metres
- Plot Size: 13,000 square metres (1.30 hectares / 3.21 acres)
- Bedrooms: 10
Outstanding and elegant Eighteenth century Chartreuse, close to the banks of the picturesque river Garonne in the AOC Graves region, set in over 27 acres with equestrian facilities and a small vin...
- Floor Size: 1,445 square metres
- Plot Size: 110,000 square metres (11.00 hectares / 27.18 acres)
- Bedrooms: 12
Delightful 5 bedroom property set in almost 4 acres, nestled in an area of peaceful vineyards close to Saint Emillion. The stone farmhouse sits in 1.5 hectares of land with 5 bedrooms and 5 b...
- Floor Size: 360 square metres
- Plot Size: 15,000 square metres (1.50 hectares / 3.71 acres)
- Bedrooms: 5
Fabulous character property dating back to the Eighteenth Century, with spacious and flexible accommodation in a private rural situation, yet just 10 minutes from Royan and the beaches. Set in...
- Plot Size: 41,340 square metres (4.13 hectares / 10.22 acres)
- Bedrooms: 12
Beautiful country estate set in over 6 acres, on the banks of the river Dronne and just an hour from Bordeaux and Bergerac, offering flexible accommodation with origins in the Sixteenth Century. <...
- Floor Size: 700 square metres
- Plot Size: 26,000 square metres (2.60 hectares / 6.42 acres)
- Bedrooms: 8
Exceptional 10 bedroom, four storey villa situated in a peaceful residential area on the plateau of Cap Martin in Roquebrune-Cap-Martin, enjoying stunning sea views. This amazing property is c...
- Floor Size: 500 square metres
- Plot Size: 1,579 square metres (0.16 hectares / 0.39 acres)
- Bedrooms: 10
A charming and spacious 5 bedroom family home set within 2,300m2 of gardens enjoying lovely views towards the Pyrenees and in walking distance to the nearest town. Set out over 3 levels, f...
- Floor Size: 158 square metres
- Plot Size: 2,300 square metres (0.23 hectares / 0.57 acres)
- Bedrooms: 5
Nestling in 7 hectares of beautiful land is this magnificent estate comprising of a maison de maitre, 4 gites, outbuildings, equestrian facilities and a large inviting swimming pool, located near Mort...
- Floor Size: 595 square metres
- Plot Size: 69,646 square metres (6.96 hectares / 17.21 acres)
- Bedrooms: 12
Glamorous, chic and totally refurbished architect-designed house, with a total spacious living area of 360m2, ideally situated right in the heart of Le Bar sur Loup regional natural park, which is an ...
- Floor Size: 510 square metres
- Plot Size: 8,900 square metres (0.89 hectares / 2.20 acres)
- Bedrooms: 6
Charming and spacious 19th Century house with 2 gites and 2 apartment, with a total living area of 511m2, ideally situated within a quiet and private setting on 6,375m2 of land, on the heights of Sali...
- Floor Size: 511 square metres
- Plot Size: 6,375 square metres (0.64 hectares / 1.58 acres)
- Bedrooms: 11