Step-by-step guide on how to buy a property in France
Buying a property in France can be an exciting venture, but the process may differ from what you’re used to in other countries. Here’s a step-by-step guide on how to buy a property in France:
- Research and Budgeting
Location: Choose the region, city, or village that fits your lifestyle and budget. Property prices can vary significantly depending on the area. Also, check if the area is good for full-time living or a holiday home, depending on your preference!
Budget: Consider additional costs beyond the property price, such as notary fees (approx. 7–8%), local taxes, and maintenance costs.
Financing: Arrange your finances, either through savings or by securing a mortgage. French banks offer mortgages to foreigners, but they often require a higher deposit (up to 30%). Check out Mortgage providers here.
- Find a Property
Real Estate Agents (Immobiliers): Find a local estate agent, as they know the market well and can help you find properties that meet your criteria. Find a list of our Real Estate Agencies in France
Online Listings: Find your dream home through Europe Properties
Private Sales: In some cases, you may deal directly with property owners.
- Make an Offer (Offre d’Achat)
Once you’ve found a property you like, you can make a formal offer to the seller.
The offer can be accepted, rejected, or subject to negotiations.
- Pre-Sale Agreement (Compromis de Vente)
After the offer is accepted, you’ll sign a Compromis de Vente (preliminary sales contract).
This is a binding agreement, and the buyer usually pays a deposit of around 10% of the purchase price.
The contract includes conditions such as financing (obtaining a mortgage) or legal searches (checks on the property’s status).
There’s a 10-day cooling-off period for the buyer after signing.
- Property Checks and Financing
Notary’s Role: The notary (notaire) is a neutral party who ensures the legal process is followed. They check property deeds, any restrictions, and make sure the sale adheres to French law. Your deposit and final payment is paid into an Escrow account (provided by the notaire) providing assurance your funds are secure and only accessible by the notaire. Do consider a currency broker for your transfer as you can expect great rates compared to your local bank. Consider a ‘currency forward rate’ contract that guarantees the exchange rate for your purchase by locking it in until completion! You can shop around here for expert advice.
Mortgage Approval: If you’re getting a mortgage, the lender will assess the property and approve the loan. Enquire for your mortgage here.
- Final Contract (Acte de Vente)
The Acte de Vente (final sales contract) is signed at the notary’s office or via a procuration (proxy) once all legal checks are complete.
The balance of the payment (after the deposit) is transferred to the notary, who will pass it to the seller. This must arrive into the Escrow account prior to signature of the Acte de Vente.
The keys and property ownership are transferred to you on the same day. You will receive an ‘Attestation de Vente’ as proof of purchase whilst the registration of the property is done.
- Notary Fees and Taxes
Notary Fees: These are typically 7–8% of the property price for existing buildings and around 2–3% for new builds.
Taxes: If you buy property in certain regions, there might be local taxes, like taxe foncière (property tax) and taxe d’habitation (secondary home tax, if applicable).
- Registration
The notary registers the sale with the French Land Registry, where you officially become the property owner. This can take up to 6 months, where upon registration you will receive a copy of your ‘full title deeds’.
Additional Tips:
Hiring a Lawyer: Although not mandatory, some buyers hire a bilingual lawyer to assist in understanding the legal documents and contracts.
Residency: Owning property in France doesn’t grant automatic residency rights, so check visa requirements if you plan to live there. Looking for help in your relocation? Check out the Relocation Hub.
Costs Beyond Purchase: Be prepared for on-going costs like maintenance, utilities, and property taxes.
By following these steps and working with the right professionals, you can successfully navigate the property market in France. Please take a look at our recommended Partners in France
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