What is the process for buying a property in France?
Start by contacting us to tell us what you are envisioning for your new property and the lifestyle you would like in Provence.
We will do thorough research and create a list of properties matching your criteria. Then we review each property with you to get a clear picture of your preferences, pre-visiting the finalists before you arrive so that you see only the properties that suit you the best.
Once you have found your dream house in Provence - here are the basics of the buying process:
- Buyers send an offer letter to the sellers. Negotiations take place — buyers and sellers agree to a price.
- Buyers and seller sign the “Compromis de Vente” - a legally binding document with the terms and conditions specified. There is a 7 day cooling-off period afterward, during which the buyers are allowed to change their minds.
- Buyers place a 5% to 10% deposit (only refundable if there are conditions that are not met). Sellers are required to sell the house under the agreed conditions at this point.
- A 3 month period of time is then required by the law for the Notaire to prepare the final contract to be signed.
- The final contract “Acte de Vente” is signed after the 3 month period and the balance of the payment is due. The house is now yours!
What is a Notaire?
A Notaire is a private practitioner with legal training, sanctioned by the French government to authenticate legal documents. The Notaire is required to act impartially on behalf of buyers and sellers in the same transaction, however it is possible for each party to appoint their own Notaire. Notaires research the finer points of each sales transaction to ensure a smooth and legally sound transition of property from one party to the other.
How is Provence Life paid?
Agency commissions are nearly always paid by the sellers in Provence. Provence Life splits this commission with the listing agent when you buy. There is no fee to you if you decide not to purchase. Occasionally, agency fees are paid by the buyers - we will notify you in this rare instance.
Is it hard for foreigners to get a mortgage in France?
It can be challenging to get financing for your property in France, but we have referrals to English-speaking mortgage hunters who can find interested banks based on your unique profile.
How much income could I expect from renting my property by the week to vacationers?
This varies based on location, size, amenities and quality of finishing. Generally speaking, the rent received covers the cost of owning and maintaining the property to a high standard. With 20 years of experience in vacation rental in Provence, you can count on us to give you the best advice to succeed in generating rental revenue.