James Mansfield,  Friday, 19 January 2024

 

If you're not fluent in French, ensure that all contracts are translated into English by a certified translator.

When making an offer on a property, it's customary to bid lower than the listed price.

Be aware that the real estate agent's commission typically ranges from 5 to 8%. Confirm with the agent whether this commission is included in the property's asking price.

Inquire about the solicitor fees, which generally are about 6%.

Legally, the real estate agent must present your offer to the seller, regardless of how low it might be. Remember, making an offer is a binding action. Once you've made an offer, there are specific rules you must follow.

The seller is required to formally accept your offer in writing. After you receive this acceptance, you have a 7-day period during which you can retract your offer without any penalty.

You are not required, nor is it legally permissible, to make an advance payment immediately after making an offer. Any advance payment should only be made once the purchase is finalized.

In France, the notary plays a crucial role in property sales. They ensure that you, as the buyer, fully understand what you're signing – it's their legal obligation. So, if you have any doubts, don't hesitate to ask questions. While in the UK, your solicitor will handle the legal aspects of the transaction, the French notary ensures that all legal requirements in France are met.

Upon signing the sales contract, you are committed to the purchase. However, you do have a 7-day cooling-off period during which you can cancel the purchase. Additionally, there might be other legal grounds that allow you to withdraw from the purchase, such as a financing clause.

Before finalizing the purchase, do a thorough walk-through of the property to ensure everything aligns with the agreed terms and that nothing is missing.

The seller is obligated to provide various standard technical inspection reports at the time of sale. However, take these reports with a grain of salt. Avoid agreeing to any non-liability clauses in the sales contract proposed by the seller. It's advisable to have an independent inspection of the property. The cost of such an inspection is generally small compared to the expense of fixing any undisclosed issues.



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