Buying a property in the South of France? You may find the process a bit more difficult and different than what you are used to. That’s why we have answered some frequently asked questions.
More questions? Hire us as your buyer’s agent and let us guide you through the entire purchase process.
In France, the buyer pays the notary fees. The fees are usually about 7 to 8 percent of the sales price. A part of that consists of taxes and another part is for the ‘notaire’ to draft and register the sales contract. The fees from the estate agent are included in the sale price, so they are not charged extra. It is common that you pay your part of the taxe foncière to the previous owner in the year of buying and sometimes the ‘notaire’ requests a certified interpreter at your own expense.
Once you have found a house, it will take about 3-4 months before you can sign the final sales contract and become the new owner. Why so long? Mainly because of the preferential rights that can be attached to a house. The commune for example often has a first right to buy, and also the SAFER (agricultural organisation) has a preferential right. They both need to be notified officially and the procedure usually takes two months. The mortgage application also takes about two months.
The most logical option is to choose a French bank. After all, the property is located in France. In general, the French bank can provide a mortgage under more favourable conditions and rates than a foreign bank. In addition, the possibilities in France to use the mortgage to extract money from the house are limited. If you are financing your French house via a French bank, you can use your savings or capital gains on another property for other means, so more financial options.
