7 easy steps to buying a home:
Find a trusted real estate agent. Shop for your realtor as you shop for a pair of shoes. You want the best professional fit possible and will rely on your realtor for advice and referrals as you choose your new home. If you have a good relationship with a realtor affiliated with an international real estate agency (such as Christie’s, ReMax, or Sotheby’s) in your country, ask them if they can refer you to an agent in France.
Gather your financial documents and get pre-approved if you need a mortgage. In France, this can be challenging for Americans, but not impossible.
Identify down payment funds. Knowing what you can put down for your new home is always good!
Begin the house hunt. We highly recommend considerable research and as many visits as possible to the region where you wish to have your new home. You can do this independently. Grab a guidebook and explore places where you think you would like to live.
When you have identified where you’d like to live, negotiate an offer and contingencies. Professional help here is crucial. In France, you will need a notary to supervise the real estate acquisition. Make sure your realtor is with a reputable real estate agency and shop for a reputable notary.
There are three contracts you need to sign to purchase a home in France:
Promesse de Vente: This is the contract where the buyer makes an offer, and the seller accepts it. The seller agrees to sell a property to you at a fixed price. This is a binding contract.
Compromis de Vente: After all the inspections and disclosures are identified, the buyer pays a deposit of 5% of the purchase price and signs a contract with the seller that details all requirements for the purchase. The buyer has a ten-day grace period within which to rescind the contract. The seller cannot change the contract.
Acte de Vente: All the requirements in the Compromis de Vente have been fulfilled, and the notary formally transfers the property from the seller to the buyer.
Close, get the keys, hook up your utilities, and move in!
House hunting can be an exciting adventure, just keep in mind that it’s critical to decide what you can afford and get your finances in order first. Doing so means less stress, more confidence, and a journey you’ll enjoy.
Feeling ready to make a move? Send us a message!
