Russian buyers often ask about the process of buying real estate in France. Let's look at the whole buying process :
The most difficult part of buying real estate in France is choosing your property and negotiating the price in case of bargaining.
The buying process itself is simple and transparent; you only need to fly in with your passport for 3 days. This is a realistic timeframe from the moment of viewings to handing over the documents to the notary for signing the preliminary contract, provided you are working with professionals.
So, step by step for the most skeptical:
You contact us, and based on your criteria, we select properties for viewing, which we discuss and agree upon in detail.
You arrive for the viewings. During the viewing of each property, we provide you with information about the property and its maintenance costs (taxes, utility bills for an apartment, or maintenance costs for a villa).
If an apartment is listed for sale through an agency, as a rule, all the documents are already prepared so that a contract could be signed as soon as tomorrow.
Namely, complete technical diagnostics (reports on the surface area, the condition of electricity and gas, natural risks, presence of asbestos, etc.), as well as the documents from the latest homeowners' meeting, which clarify whether there are upcoming expenses for the building's common areas.
If the meeting voted to paint the facade, it is obvious that you will have to pay your share, and this can be discussed during the negotiation process.
You should know that agency commissions are already included in the property price, so you will only need to anticipate notary fees, which are about 7% for resale properties and 2.5% for new builds.
There are various legal ways to reduce the amount of notary fees, such as drawing up a separate contract for the furniture if you are buying a furnished apartment or house.
After you have chosen a property, you make a written purchase offer. This is a formality that shows the owner the seriousness of your intentions, but it has no legal consequences for you, and you can change your mind.
Some clients assume that this is an Eastern bazaar where prices are unreasonably inflated, and they make extremely low offers that lead nowhere.
You must understand that before taking an apartment on, the agency has done serious work to evaluate the real estate. It is in the agency's interest to take the property at a realistic price and explain the market realities to the owner if they are unreasonably inflating the price.
The agency tries not to take properties at inflated prices, or it will always warn the buyer about it and try to negotiate in their best interest.
In any case, bargaining is possible within reasonable limits and usually does not exceed 5-10%. Every case is individual; sometimes a deal falls through due to a difference of 2,000 euros between the offer price and the selling price, and sometimes a 4 million euro deal goes through without any negotiation at all.
As professionals who also know the personal situation of the seller, we also communicate the possibilities of negotiation during the visit.
Thus, your written offer can be accepted, rejected, or, as happens most often, you receive a counter-offer.
If an agreement on the price is reached, both parties can sign a preliminary contract.
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