Notaire's Role
In France any property sale / purchase must be processed by a Notaire.
It may seem unusual but the Notaire normally handles the transaction for the
buyer and seller. You can appoint your own Notaire so one Notaire acts for the
buyer and another for the seller. There is no additional cost. The Notaire is
effectively a Government employee and cannot favour either party in the
transaction.
If you must employ an English solicitor remember that the Notaire will still
be involved (and will need paying). Our advice - if you wish to use an English
solicitor please make sure they are familiar with French law and Inheritance.
Unfortunately, a poor choice of solicitor can hinder the sale.
The Notaire draws up the first contract called the compromis de vente - this
is a very important contract. It commits you to the purchase so make sure you
understand the terms. In some cases, the Immobilier will draw up the first
contract - part of the Immobilier's experience is a law qualification!
The Notaire will check the property title, do searches, examine the termite
report, lead report, etc. The search is probably not as an extensive as the
equivalent in the UK. You may wish to make enquiries at the local Town Hall. If
a mortgage is involved he will collect all the appropriate details and include
it in the final document.
Typically, the Notaire takes about 2 to 3 months to complete his part of the
process and before completion he will ask you to transfer the outstanding
balance. The Notaire's have effectively their own bank and bank account!
The final contract - Acte de Vente - is like a ceremony and can take a couple
of hours! You should attend the signing of the Acte de Vente. The Acte de Vente
contains a pack of information and the Notaire will describe each page (and you
will initial each page as your acceptance). In most cases the Notaire will be
speaking in French and you may need somebody to translate (your estate agent
normally attends and will often offer to translate). At the end of the signing,
the keys are yours!
The "Deeds" follow at a later date! Often six months later!
The Notaire fees are set by the government and are a % of the purchase price.
They typically vary between 6 and 9%. More expensive properties are 6% and the
cheaper properties nearly 9%. These fees are not negotiable!
Please contact us if you would like an English speaking notaire! We also have
an English Barrister in France who will advise on legal matters.