I have been asked on several occasions from my private clients as well as by colleagues, if I can not make a basic summary about the sales process when loan is to be taken into account. https://autoankaufuri.ch
If you are interested or are actually in the process of purchasing a real estate property in France, feel free to read and follow the advice here below. Even if you do not intend to take a loan, the processes is very similar and I will point out the main differences in the pre-sales agreement when we get to it a little further on.
I’m convinced that you will come to the conclusion that as a purchaser you are far better protected with the French real estate laws then a seller is. This is especially true if you get the “Compromis de Vente” (the pre-sales agreement) drafted by a French registered Notary.
The first stage is to find a real estate agent / agency. Here you should always make sure that the agency or the agent carries a valid license called the “Carte Professionelle”. If the person does not carry the license I suggest looking for someone who does.
Once you have found the correct real estate agent it is time to look for your dream property. Here a small word of advice, please ask the agent to only show properties where he has a valid mandate. Very often agents will try to sell properties where the owner is still not committed to sell as there is no agreed sales price with the agency and their commission has not been negotiated. I think if an owner is not prepared to sign a sales agreement mostly he is only interested to get an accurate appraisal or if he is intending to sell the price is going to be well above market value. The end result is that your time is being wasted.
As we do have many good agencies on the French Riviera it should not be to difficult to find and work together with a serious agent. Finding the correct property is actually a finer art and is achieved easiest if the agent spends first a little time together with you, at least 20 – 30 minutes, taking detailed notes what the purchaser is really looking for, avoid being rushed off to see the first best house that comes to the mind of the agent.
The first question, normally asked by the purchase client once the dream house is found, is how much financing a French bank will give. The answer is not very straight forward, because each bank sets up their own terms. A typical French Bank will finance up to 70%-80% calculated from their especially appointed real estate appraiser, and not on your agreed purchase price. Only in the case you have a lower agreed purchase price then what the appraiser has estimated, this price will be used and the percentage calculated!
For any questions please drop me comment and I will answer promptly!