Formal
Pierce & Elliott has put together a detailed brochure containing information on various legal and tax-related aspects connected with buying property in France. This brochure is available on request.
The steps involved in the buying process are summarised below.
You discuss the following with your Pierce & Elliott adviser:
- the project and the specific villa or apartment
- financial aspects
- buying without a mortgage (has various disadvantages)
- buying with a mortgage (has advantages but depends on your income and takes several weeks)
- buying with or without VAT and the accompanying letting obligations
- the investment proposal and the accompanying variants and returns
- the possibility of taking an option on your property of interest.
Visit the project:
- You can do this on your own. If you decide to purchase the property, we will reimburse a maximum of € 500 in expenses.
Sign the reservation contract.
Transfer a 5% deposit to the bank account of the French notary.
Establish an SCI if applicable.
Apply for a mortgage if applicable.
Sign the deed of transfer with the French notary:
- by means of a power of attorney. In some cases this is not possible, for example if the bank will not allow signing by proxy for a mortgage loan.
- by going to France yourself.
- Pay the instalments as indicated by the notary.
Pierce & Elliott furnishes the villa or apartment if applicable.
Delivery and handover of keys.
Property made available to Pierce & Elliott Vacances if applicable, in which case a letting contract must be signed.
Annual reports and accounts provided if applicable.
