Buying Homes In France - The Legal Bit

As we said in the previous post, there is nothing especially difficult for the foreigner about buying homes in France. However, the process is quite different from that in the USA or UK, so it helps to know what happens.

1. When you have chosen your property - whether from an estate agent or through a private arrangement with the owner - you go along with the vendor to a legal official called the Notaire or notary. There is one for every local area. You will be required to pay the Notaire a deposit of 10 percent of the purchase price.


2. You and the vendor will then need to sign a contract called compromis de vente, in the presence of the Notaire. This becomes legally binding after seven days - before this, either side may withdraw without penalty.


3. One important difference from the US or British systems is that in France the house purchase process doesn't necessarily include an appraisal or survey. However, in most cases it's not advisable to leave this out, so during the seven-day cooling off period it would be a good idea to hire a local builder to check that the property is structurally sound. If you discover major faults AFTER the end of the seven-day period, you will still incur major penalties for pulling out!


4. During the next few weeks, the Notaire will carry out legal searches. This usually takes 2-3 months, though the Notaire won't be able to give you an exact date in advance. If you go home during this process, you should provide contact details so the Notaire can let you know when the completion date will be.


5. During this period you need to ensure that the full purchase price is in the Notaire's bank account. The easiest way to raise finance is usually by getting a mortgage with a French bank. Alternatively you can refinance your existing property or obtain a home equity loan.


6. On the completion date you and the vendor will sign the final contract called the Acte Authentique. Once this is signed - the property is yours!

All you have to do now is enjoy your French home! If you can't wait to start your search, go to http://www.bizwrite.co.uk/realestate/overseasproperty.html If you are in the USA and would like advice on refinancing your existing property, visit http://www.bizwrite.co.uk/realestate/lending.html (It's a bit easier in the UK to find mortgages for buying properties abroad.)

Buying Homes in France - How To Do It

Buying homes in France is actually easier for foreign nationals than it is in many other countries, such as Greece. There are actually no legal restrictions on non-French people buying property and I haven't heard many horror stories - if YOU have a horror story, or have heard any, please get in touch! The only problem some foreign buyers have met with is that in some areas that are very popular with overseas buyers, the local people have sometimes shown resentment at their village or town being "taken over".

Of course you can't really blame them for this, especially when the "incomers" insist on speaking English, setting up shops, cafes and restaurants selling their own type of food, etc. Half the enjoyment of buying properties abroad is in learning about other people's way of life. And the French way of life has A LOT to recommend it! (Likewise French food!) So I would suggest if you want to get the maximum pleasure from your new home, that you are prepared to learn some French, and fit in with your neighbors a bit. They may even become your friends and you will enjoy your property so much more! That's my experience anyway - let me know if you agree or disagree!

Of course, when buying homes in France, the first step is choosing your property. You can do this the same way as you would at home - by looking in the windows of estate agents (immobiliers). However, if you buy your property through estate agents they will charge you 10 percent. The other way is to drive round looking for houses with an "A Vendre" (For Sale) notice. It's very common in France to sell property privately so if you see a house you fancy, there's nothing to stop you starting negotiations with the owner. However, if you don't speak French, it's a good idea to take a French speaker with you. A lot of French people wouldn't appreciate someone turning up at their house and insisting on talking English to them, even if they do speak English themselves.

In the next post we'll look at the legal process of buying homes in France. And if you can't wait to start your search for your perfect French property, you can go to http://www.bizwrite.co.uk/realestate/propertyabroad.html for a wonderful selection!

Buying Properties Abroad - France

As we have observed before, there are many reasons for buying properties abroad. In recent months, the problems in the home property market in both the USA and the UK have become one of the foremost of these reasons. People are looking for an opportunity to invest in an area where property can still found at quite a low price, but where there is a good chance of growth in the market.

France is increasingly attracting people looking for this type of property. France is really a very seductive place to look for your home. As you drive through the French countryside, you really marvel at the absolutely magnificent scenery with its wealth of ancient castles and medieval villages. And if you stay for even a few days, you will be completely won over by the delectable food and the amazing variety of superb wines.

UK residents have been buying homes in France for many years now. Of course it's very easy for British people to get to - even before Eurostar, it was a fairly short hop across the channel. Many British folk find the lifestyle delightful and much more relaxed than living in the UK. Plus, of course, they have probably paid a lot less for their property than they would have done in Britain!

Now, the idea of buying homes in France is becoming increasingly attractive to US citizens too. It seems like an escape from the growing problems in the property market in the USA.

But how easy is buying homes in France for the US or UK resident? Well - there's one thing you can be sure of, and that is that real estate processes are very different from those in either the USA or UK - though not necessarily all that difficult. In the next post we will go through the house-buying process in France step by step. If you have any tips or experiences to share, please do! And you can find some lovely French properties at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html