Real Estate in France

Magnificent Real Estate and Property in France

The property of your dreams may well await you in France

If you're in the market for European real estate, then you will find France real estate attractively affordable. France is a predominantly rural country, so if you have notions of restoring a cottage, a farmhouse, or even a château, there's an ample supply of real estate for sale in France for you to choose from

French Real Estate Agents

French real estate agents (agents immobiliers) are strictly regulated. They must be in possession of what's called a carte professionelle, which can be issued only by the agent's local authority upon producing evidence that the immobilier has a minimum bond or guarantee with respect to the deposit of monies received from property buyers. More than 8,000 French real estate agents belong to FNAIM (Fédération Nationale de l'Immobilier), a recognized professional body. FNAIM can provide you with a list of member agents in your chosen area. The organization's website has a comprehensive list of agents as well as a database detailing properties available in any given area. The FNAIM network includes some expat English real estate agents who have relocated to France. Obviously, the British house-buying system is not the same as that in North America, but these agents are used to answering questions-in English-about how the process works for buying real estate in France. If everything is new to you, and you're unsure of your French language skills, these agents can help you open a bank account and get set up with gas, electricity, and telephone companies. French real estate agents can do the same, but not all speak English.

The Supply of Real Estate in France Will Not Suddenly Dry up--so Don't Rush in

Many excellent real estate options still exist in Paris

The first rule is of buying real estate in France is: don't rush in. Unless your heart is set on a home in the more popular areas of Provence, there are more than enough French castles, farmhouses, and village houses on the property market for everybody. The supply is not going to dry up suddenly, so take your time. Visit a range of different properties in France to get an idea of French real estate prices. Clearly, you want to get as much maison as possible for your dollar. And note: it's quite acceptable to make an offer. Away from the really high-profile areas, houses often sell for less than their listing prices. In France the business of conveyancing (the buying and selling of property), is handled by a certified real estate attorney-un notaire. A notaire is first and foremost a public official responsible for ensuring that all deeds are authentic and of incontestable value. You will have to appoint one to act for you. Because they are personally responsible for the contracts drawn up, they must be objective in the advice given-and must act with impartiality toward the various contractual parties. Consequently, the same notaire often acts for both vendor and purchaser. Although engaging your own notaire isn't strictly necessary, it is in your best interest.

Buying French Real Estate

Buying real estate in France is not a difficult process. In most cases, the procedure is completed within two to three months:

Step 1: When the compromis de vente is signed, the purchaser pays a deposit, usually 10% of the price of the property. This deposit is put into an escrow account held by the notaire or real estate agent.
Step 2: Once you've signed the compromis, the notaire gets down to business. Various searches are carried out relating to the freehold of the property. During this intermediary stage, you will be required to provide the notaire with numerous legal documents.
Step 3: Once searches have been conducted and everything is judged to be in order, both purchaser and vendor are called to the notaire's office. The notaire reads the final deed of sale aloud, the acte de vente. Both parties, as well as the notaire, sign this deed. You pay the balance, receive the keys, and become owner of the property. (Note that the balance monies are required to be in place before final sale day.) You will be given a proof of ownership document and, approximately six to eight weeks later, receive a copy of the deed once it has been entered into the French administration system. The original document is kept at the notaire's office.

Learn more about real estate in France inIL Postcards.

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