The real estate buying process in France: process and stages

The real estate buying process in France typically involves several stages and can vary depending on the specific property and individuals involved. Here is an overview of the general steps involved:

Property Search: Buyers typically start by searching for properties, either online, through real estate agencies, or by other means. It's important to specify your budget, location preferences, and property criteria.
Property Viewing: Once you find a property that interests you, you'll arrange viewings. These can be done individually or with the assistance of a real estate agent.
Make an Offer: If you decide to proceed with a property, you make an offer to the seller. This is often done in writing and includes the proposed purchase price and any conditions or contingencies.
Preliminary Sales Agreement (Compromis de Vente): Once the seller accepts your offer, you typically sign a preliminary sales agreement. This is a legally binding contract that outlines the terms and conditions of the sale, including the price, completion date, and any conditions. A deposit, usually around 5-10% of the property price, is paid at this stage.
Property Due Diligence: After signing the preliminary agreement, you have a period (usually 10 days) to conduct due diligence, including surveys, inspections, and obtaining a mortgage if necessary. If issues are discovered, you can potentially renegotiate the terms or withdraw from the sale.
Mortgage Approval: If you require a mortgage, you must secure financing during this period. The lending process can take several weeks.
Final Sales Agreement (Acte de Vente): Once due diligence and financing are secured, you move forward to the final sales agreement. This is typically signed at a notary's office, and the remaining balance is paid. Both the buyer and seller, or their legal representatives, must be present to sign the deed of sale.
Final Payment and Closing Costs: At the closing, the buyer must pay the remaining purchase price and associated closing costs, which include notary fees, registration fees, and taxes. These can amount to around 7-8% of the property price.
Property Transfer: The property transfer process is finalized, and you receive the keys to your new home.
Registration: The sale is registered with the land registry office, and the property title is officially transferred to the new owner.
Change of Utilities: You'll need to contact utility companies to transfer services into your name.

It's important to note that real estate transactions in France are highly regulated and involve a notary to ensure legal compliance. The process can take a few months to complete. Working with a real estate agent and legal professionals is common, especially if you're not familiar with French property laws and regulations.