By choosing to buy a property direct from the vendor you will be losing the services of the French agent and also not paying the fee which ranges from 4% – 11%, the higher percentage being paid on the lower priced properties. Saving on the fee is good news but you must realise that by buying direct from the vendor you will need to equip yourself with a lot of knowledge and be prepared to do more work.
Notaire The purchase must be processed by a Notaire, who is a public servant authorised to carry out contractual work regarding property and land sales and purchases. Both seller and buyer usually use the same Notaire although if you have any reason not to want to use the seller’s Notaire you are perfectly free to choose your own. The notary costs will be the same whether you use one or two Notaires. Unless you are fluent in French it is wise to find a Notaire who speaks English. This is generally not difficult but do contact us if you have any difficulty in finding a suitable Notaire and we will be able to supply you with a list. Alternatively, you may choose to instruct your own French Notaire based in the U.K. If you decide to do this his or her charge will be additional to the charge made by the French Notaire. It is important that you understand the French contractual system as the disposal of your property on your death will be affected by the form of contract used for buying the property. Do check this carefully and if you feel you need the services of a Notaire based in the U.K. we can supply a list.
It is your choice whether to use the services of a translator and your decision will obviously depend on your understanding of the French language and on the Notaire you work with. Many Notaires now translate all documents into English, if required, but in some rural areas this may not be offered. Technically it is the Notaires’ responsibility to ensure that each party to the contract understands what they are signing, which means that they should provide a translator if your French language is not sufficient. However, this does not always happen! We would advise that, if you need it, you check the position regarding translations carefully with the Notaire to assess whether you need to provide yourself with a translator.
If you are obtaining a mortgage to buy the property your deposit is only safeguarded against confiscation in the case of failure to obtain the mortgage, if you apply for a French mortgage. We can put you in touch with our mortgage partners, please see our mortgage section for more details. You will also need to arrange exchange of currency, firstly for the deposit and then for the completion monies (if not obtaining a French mortgage). Healey Fox FX provides a fast and secure currency exchange and international transfer service for overseas property buyers and sellers. We can assist with the transfer of both large amounts, small amounts and ongoing regular transfers. In fact we can help all clients with any requirements including business clients. https://healeyfoxfx.com/
The U.K. government has a very useful section on their website for anyone buying a property in France and we recommend that you check this out.
The following extract is from their site and all is well worth reading………..Before you complete your property purchase, you should consider the following non-exhaustive list: