Everything you need to know before starting your project
Find the right property in the right area. K&G INTERNATIONAL PROPERTIES advices you to search for properties as soon as you have already decided on a specific area on the French Riviera, perhaps having been there on holiday.
Sign the preliminary contract (preliminary sales agreement), once you have found the right property. An initial deposit should be made (usually 10% of the purchase price). Please note that in France the law on Urban Solidarity and Renewal protects the buyer : if you have changed your mind, you can withdraw within 10 days after the day following the presentation of the letter notifying the deed. By notifying your decision by a registered letter with return receipt within 10 days, you will not have to pay any penalties. From the day following the withdrawal, you must be refunded within 21 days.
The Notaire prepares the deed of sale to be signed and will request the mortgage funds. The length of time between the initial sale contract and completion can vary but it is normally around 2 to 3 months. It is highly recommended that you ensure your new home is insured against damage. The policy must be effective from the same date as the signing of the deed of sale. As soon as you have signed the relevant documents, you are the owner of a French property : “Welcome to France” !
The role of the “notaire”
In France, the conveyancing process is undertaken by a notary. Your solicitor or the French tax authorities. A “notaire” is a publicly appointed official who is responsible for ensuring that the property is habitable (ie, no irregularities) and that the purchase or sale is carried out and legal verifications are made. As “notaires” are personally responsible for the establishment of the contracts, they must be objective in the advice they give and be impartial in their dealings with the parties involved. A “notaire” represents neither the seller nor the buyer but the French Government. Therefore, the same “notaire” usually acts for both the vendor and the purchaser. This is not mandatory and you can appoint your own notaire if you wish. The fees (paid by the purchaser) are fixed by French legislation (+ local fees).