Under the French legal system a French Notaire, an independent officer regulated by the Ministry of Justice, acts for both the vendor and purchaser of a property. A purchaser may also employ a separate Notaire to act on his/her behalf. There is no extra cost involved in engaging a second Notaire as both of them will simply divide the fee. The Notaire’s fee and other costs will total approximately 8.5% of the purchase price. The estate agent's fee is included in the price quoted for each property.

 

A deposit of 10% is usually payable on the signing of the first contract. This contract binds both parties to complete the deal but there is a 7 days cooling off period during which the purchaser may rescind the contract. If the purchaser fails to complete the transaction, without proper cause, the deposit is forfeit.

 

The French Notaire carries out all the usual searches regarding title, planning permission, land boundaries, rights of way, lead, asbestos and termite reports. The purchaser will need to furnish personal details to the Notaire (passports, birth certificates, marriage certificates).

 

The final contract procedures usually take 60 - 90 days to complete.