How does the buying process work in Paris / France?

Basically, once the price is agreed between the seller and the buyer, both parties sign a Compromis de Vente (or a Promesse de Vente). This pre-sales agreement is signed in the presence of your notary. No lawyers are needed for property transactions in France, but a notary is obligatory. Notaries are paid a percentage of the transaction price, and they also pay the property transaction taxes on behalf of the buyer. Notary fees and taxes cost 6-7% of the property price (excluding agency fees, if applicable). Ask us for recommendations of bilingual notaries who will explain the technical details of your particular purchase and represent your best interests.

The Compromis de Vente is a legally binding contract obligates the seller to sell to you (this can’t be changed unless you back out), and you agree to buy the property under certain conditions (notably financial). You pay a 10% deposit (of the sale price) at this stage, which is lodged to a sequestered notarial account until the final sale.

Then, 3 - 4 months later (after research into the property by the notary), the parties meet again at the notary’s office to sign the final sales agreement. If all the conditions are met, the sale goes through: you pay the rest of the price of the apartment, fees, and you get the keys in exchange.

For more information about the buying process, download our explanatory PDF here! (coming soon)

If you have any questions, book a Zoom call with Antonia to learn more!