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PROPERTY ACQUISITION: PHASES ONE AND TWO
There are two main phases in the process of buying a property in France and investing
in France real estate .
- Phase One: Selecting your property and signing the compromis de vente (agreement of sale)
- Phase Two: Preparation of documents for completion of the sale, and final settlement
For clients who buy a property in France through JUST FRANCE Sales
, we provide important services to the buyer at all stages of the acquisition process.
This page covers our services during the selection of a property to buy in France.
As you read the text below you may click on the highlighted links for more details.
PHASE ONE: SELECTION
The selection phase includes visiting properties and selecting a property for purchase,
possibly an inspection by a building engineer, negotiation of the price with the
seller, selection of a Notaire to assist the buyer, preparation of the compromis
de vente by the seller's Notaire, and review and signing of the compromis de
vente.
OUR SERVICES
During this phase of buying a property in France, JUST FRANCE SALES
will:
- Outline for the client the property acquisition process from start to finish. Such
an overview will include advice on property
values, the most favorable areas for a family vacation home or an investment
property, what costs to expect both before and after acquisition, and rental possibilities.
- Assist the buyer in establishing a bank account in
France. This is an absolutely necessary step toward acquisition and ownership of
a property in France.
- Assist with ground travel arrangements for a property inspection trip to France.
For lodging you may wish to consider a rental property from JUST FRANCE.
- Arrange for property visits with private owners and/or French real estate agents
with whom JUST FRANCE SALES has established
a collaborative relationship.
- Upon request, arrange for a property inspection by a qualified building engineer or appraiser.
- Assist in negotiating a fair purchase price. This process generally requires fluent
French and an understanding of the French mentality on real estate transactions,
skills our company has developed in more than a decade of dealing with French property
owners.
- Once a property is selected, provide figures on:
- Inform the buyer of ongoing costs (property maintenance,
insurance, caretaker costs, etc.) that can be expected after acquisition.
- Once the buyer has decided to proceed, suggest a highly qualified French Notaire who speaks fluent English and is
experienced in transactions involving property acquisitions by non-French citizens.
The Notaire will advise the buyer on decisions to be made regarding
how the property is titled (in the buyer's personal name, as a French real
estate corporation, etc.), and the ramifications of each kind of ownership in terms
of French tax and French inheritance
law. For English-speaking buyers, the Notaire will explain the critical
provisions of the compromis de vente to assure that the buyer is fully apprised
of the terms and conditions of purchase.
- Assist the buyer in transferring to the Notaire the 10 percent deposit necessary
to secure the property and authorize preparation of a
compromis de vente.
- Submit for the buyer's review an English-language translation of the compromis
de vente. The Notaire will explain to the buyer any unique aspects of the compromis
such as easements, water rights, construction permitm specific documents needed
for closing, etc.
- Discuss the compromis de vente with the buyer and Notaire and recommend any
necessary changes prior to signing.
- After signing of the compromis and expiration of the
seven-day cooling-off period, arrange for a final settlement date. This concludes
Phase One.
Click here for information on our services during
phase two of the aquisition process:
Preparation of documents for completion of the sale, and final settlement
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