Buying Property in France Vs UK – Read some important, significant differences
Britain and other nations have been moving to buy French real estate for decades, when it comes to such a big buy some Ride more smoothly than others. This may be for a variety of reasons, but this article examines in particular the differences between France and the United Kingdom.
Most complications are often due to lack of understanding or language problems
Since the purchase of this property in France is strictly regulated and direct, complications and problems are unlikely to occur in the purchase. However, as with any purchase process, the problem may occur, but because the buyer fails to understand the process, there is often a problem
If the buyer does not speak French, this may be the case in foreign buyers often , Then the chance of the problem naturally increases. Whatever you do, do not think your French is better than it, it could be a very expensive mistake!
Buying a property in France v UK – important, significant difference
Before making any final decision, please note that there is an important, significant difference between the purchase of property in France and the UK The difference in the field of French real estate purchases is one foot in the field of inheritance on the other foot.
When buying a holiday home in France or a second home or new home, it is vital that you know that you will be legally bound in the early stages of this process than you in the UK and other countries The
This occurred at the stage of Compromis de Vente or Promesse de Vente. So, although you might think of these as documents, but they are not documents because they do not need to comply with the contract, so you can consider them as contracts, which can avoid any hasty behavior.
You and I know that in the UK, before signing any documents, Do a normal thing, get a surveyor's property report. Think again. Another striking difference is that French surveyors do not exist like the UK, so you can not expect to investigate.
No matter what you do, will not confuse some of the British construction associations with subsidiaries in France may ask for valuation. These are just valuation rather than investigation.
In France it is likely that some experts may go to the property, such as checking whether there are termites or whether there are asbestos, but these are specific subjects of the experts, not the surveyor
Do not forget that you need to do Out of this decision and prior to the signing of the price agreement before it is executed and Compromis de Vente or Promesse de Vente
Compromis de Vente or Promesse de Vente
Compromis de Vente – Sales Agreement / Commitment Sale Contract Is a legally binding agreement between the buyer and the supplier. If any party violates the agreement, the other party has the right to bring it to court. This is usually used for personal sales. Some Britons think it is a document that will be contracted, but that is not the case. It needs to be regarded as the first contract
Promesse de Vente – the sale of the commitment / unilateral commitment to the sale is when the owner undertakes to sell the property at an agreed price within the agreed time, usually in 60 to 90 days between. However, this is more common in the case of larger property sales.
Compromis de Vente works like this. Once you have verbally promised to buy the property of your choice, then develop a Compromis de Vente. This document is created by a notaire (notary) and is a legally binding document that includes the price you agree to, the date of completion (usually 60 days or 90 days) and other terms, which are related to your success [19459003Afterthe7-dayperiodofthecooling-offperiodthedaysofpaymentof5%to10%ofthedepositthenthenextdayThenotarywillrepresentyouonavarietyofinspectionspropertyandanypossibleplanneddevelopmentsnearby
If you are buying property and land is more than 1 hectare, then the notary should also consult the French Landowners Registry, SAFER.
should be energy, electricity, natural gas, termites, lead And asbestos into a global report called the Dossier de Diagnostic Technique
These are the legal requirements that the supplier is responsible for to pay for the latest report. If the hotel has a swimming pool, a report on safety functions is required. In some areas also need termite reports.
How long does it take?
On average, the entire purchase and sale process usually takes about 3-4 months
Final Signature – Acte Authentique (Acte de Vente)
Another difference Yes, the final contract is not based on the standard, so it means no expert explanation, you, an English buyer, can believe what this important file contains
expect that you may see Acte Authentique ( Acte de Vente) for the first time by the supplier of the notary office. By the way, do not be surprised if you see them with the estate agent at the time of signing because they want to get paid they are there and then on the day.
This is the practice, Acte Authentique (Acte de Vente) is completely read, naturally enough in French. Because there is not a standard contract, so you are very important that you are confident of notaire's ability as well as their English proficiency.
Remember that in any country, legal terms can be a nightmare for the language of an outsider, Always seek the best professional advice? Remember to do things too late after signing. Consider the use of a perfect English legal practice.
Once the buyer has been signed, the buyer will provide the notary with a certified check or bank draft and will then receive the key to the property.
You can find an English-speaking notaire, but you should know that legal documents are written in French and they often contain unfamiliar terms. Some real estate agents can provide you with translation services, but if you are unsure, you can obtain professional translation services in your home country or country. Ask your agent if you know that someone is an interpreter who can translate legal documents
If you are close to the purchase in France, whether it is a French holiday home or a longer place of residence, make sure you are ready to face Process good armed