Life in France conjures images of vineyard views, historic chateaus and quaint village homes, so no wonder so many international buyers dream of buying a property there. Understanding the French property buying process is crucial for those looking to turn this dream into reality. Here’s a condensed guide on how to buy a property in France…

Plan, plan, plan

Those looking to get on the French property ladder from overseas should start with thorough research and planning. Prospective buyers should consider their motivations for purchasing, as this will influence the choice of location and property type. Whether it’s a sun-soaked retreat on the Riviera or a rustic farmhouse in the Dordogne, aligning your aspirations with practical considerations sets a solid foundation for your search.

Professional guidance

Assembling a team of experts early on can help you streamline the process. This team should include an estate agent with experience in the area you’re interested in, an independent property lawyer who has worked with overseas buyers in the past and a trusted currency specialist. Together, these three professionals will provide you with invaluable insights and guidance, ensuring you easily navigate the market’s nuances. Plus, they’ll be able to offer peace of mind throughout the process.

 

Start your property search

With your team in place, the property search begins. Rightmove is a great place to start as it offers a plethora of choices and locations. Plus, you can utilise the filters to narrow down your search. Regular updates on new listings will keep you informed and ready to act when the right opportunity presents itself.

 

 

Book a viewing trip

A viewing trip is a pivotal step, typically planned four months before the intended purchase. This excursion is more than just property viewings; it’s a chance to immerse yourself in the local culture, explore neighbourhoods and envision your future life in France. You must take as much time as you need to find the property that best suits you. Don’t feel pressured to make a decision asap. It’s not uncommon to have to visit France a couple of times to find the right place for you and your requirements. For tips on planning the perfect trip, download the Viewing Trip guide today.

 

Make an offer

Once you’ve found your ideal property, it’s time to make an offer. This is usually done through your estate agent, who will negotiate on your behalf. Upon acceptance, the initial contract (Compromis de Vente) is signed, marking a significant milestone in the buying process. It’s at this point your property lawyer will start their legal due diligence on the property.

Buyer considerations

For those requiring a mortgage to buy a property in France, you should already have a quote in place and be able to reach out and let them know the initial contract has been signed. This is also a good time to get a survey done, if applicable. It’s essential to understand the financial implications, including taxes, fees and exchange rates, which can significantly affect the overall cost.

The final contract

Once all due diligence is complete by the notary and estate agent, it’s time to sign the deed, also known as the Acte de Vente. This contract marks the completion of the sale and must be signed in the presence of a notary. If you cannot be physically present in France, speak to your lawyer about using power of attorney. This ceremonial act is the culmination of your journey, officially making you a property owner in France.

 

To speak to a currency specialist about budgeting for an overseas property purchase, enquire with Smart Currency Exchange in our Currency Zone for free today or simply call 0808 163 0102. 

 

Written by PropertyGuides for Rightmove