Buying in France

In France, an acte authentique or deed of sale is required for all real estate transactions.

After the purchaser has found the property corresponding to their requirements, they exchange contracts with the vendor in the form of a compromis de vente, commonly known as an avant-contrat de vente or preliminary agreement which determines the price and conditions of the transaction. A few weeks later, completion of sale takes place when the contract is finalised before a notaire.

The process therefore begins when you start looking for a property. The best method is to consult the listings displayed or published by real estate agencies or contact them in the towns or regions where you intend to buy.

Laforêt Immobilier has more than 50,000 listings on its website, www.laforet.com, updated each day, together with a free automatic property alert system: an email will be sent to you each time an agency has a new property corresponding to your search criteria. You can also contact Laforêt agencies directly. You will find their details by clicking on "Find an agency" at the top of the page.

Laforêt's agency managers receive solid training and they and their staff regularly attend in-house training sessions. These highly professional people will help you to define your search criteria and check your financing capacity. After showing you photos of various properties on their computer, they will take you to view the houses or apartments that correspond to your requirements and budget.

When you have found the property you are looking for, the agency manager will draft the preliminary agreement, making sure that the vendor has all the documents required by French law, including the exact surface area of the property (Carrez law) in the case of an apartment, compulsory asbestos, lead-paint and termite surveys, etc.

When the preliminary agreement is signed, you will be asked to pay a guarantee deposit, which usually corresponds to 10% of the purchase price. It will be returned to you at the time of completion of sale at the notaire's office. It can be paid by cheque or bank transfer to the real estate agency's conveyancing account (compte sequestre) in exchange for a receipt.

Once the preliminary sales agreement has been signed, you have a 7-day withdrawal (or "cooling off") period (délai de rétractation), starting from the day after your original copy of the agreement has been presented at your home for the first time (by registered post). The agreement can no longer be modified, except in the case of a condition suspensive (conditional clause).

For all the above reasons, we strongly advise purchasers who are not resident in France to go through a real estate agent.

The activity of real estate agents in France is strictly regulated by law (so-called the Hoguet law of 1970). Agents must have a professional licence. They must display their fees in the window of the agency, take out third party insurance and have a financial guarantee.

Real estate agents are free to fix their own rates, which are generally defined as a percentage of the vendor's price. The fees are paid entirely by the purchaser.

At Laforêt, they are included in the sales price indicated in the listings and on the laforet.com website.