This section and the next summarise the process of buying a French property once you have agreed a purchase. The process is fairly involved, but don’t worry, the Purchase Package provided by VEF’s Language and Law team - should you choose it – protects and supports you through the whole purchasing process.

The compromis

  • The first major milestone is signing the compromis de vente: this is usually the first document that the buyer, and the seller sign. It is the first of two contracts, it is legally binding in that it ties both parties into the sale and purchase, and lays out a timescale for the purchase
  • The buyer also pays 10% of the property price at this stage
  • The compromis will be in French, and may be accompanied by a pre-translation in English. Venturus recommends that you get a legal opinion on the contents of the document
  • You may lose your deposit if you do not complete the purchase in the timescale laid out in the compromis
  • If you choose to use the Purchase Package, the Language and Law team will translate the compromis into plain English, ensure all your requirements are included in the document and that you are fully protected

Lead, asbestos and termite reports

  • For many properties the vendor must undertake and pay for these by law, and the compromis should not be signed until these reports are completed
  • If problems are identified in the reports - which will be in French – there must be a negotiation as to who will rectify them
  • If you choose to use the Purchase Package the Language and Law team will summarise the reports in plain English, negotiate with the seller on your behalf as to who will remedy any problems and make sure such information is included in the compromis

The cooling-off period

  • Once the compromis is signed, there is a seven day cooling-off period
  • This is the period when negotiations regarding any findings in the lead, asbestos and termite reports should take place
  • If a survey is being done on the property, quick action is required so that the results are available before the cooling-off period expires
  • Clients taking the Purchase Package will benefit from the VEF Language and Law team making sure that everything is well coordinated so there are no last minute frights, and the purchase proceeds on time

Searches

  • The notaire conducts searches on the ownership of the property, land boundaries, rights of way and planning permissions for works already carried out
  • It may not appear as if much progress is being made at this stage, and obtaining progress reports may be difficult as an individual foreign buyer
  • If you choose the Purchase Package the VEF Language and Law team will be there to check and reassure you of progress – they have years of experience dealing with French property transactions

To find out more about the rest of the legal process, read the next section Completing the purchase.

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