The Buying Process
My role in the purchase of your property does not stop when we find you your property. I often say that my real work starts at the point when you decide to make an offer and carries on through to the completion. I deal with all the paperwork for you and liaise with notaires and the other relevant administrative departments. I am registered by the Chamber of Commerce in Angouleme (you should only act through registered agents) and I have a legal responsibility to ensure that the sale of property is handled in a professional manner within the rules as they are set out under French law. More importantly, I have a personal responsibility to you as a client about to make a significant investment both financially and emotionally.
Offre (Offer)
Once I have helped you find your new property, I put your offer to the vendor. It is important to remember that in much of rural France the local people are very traditional and in some cases are, unlike us in the UK, quite new to the idea of a property being a `saleable' asset. In many situations, the property would have been passed down through generations and the transfer of this property needs to be handled respectfully and courteously. The notaires office can sometimes be quite an emotional place on the day of completion. A responsible agent should be sympathetic to this. If he or she is not then I would question their methods and motives and whether you can really count on them to consider your best interests as well of those of the vendor and their family.
I will advise you on a reasonable offer that is likely to be accepted and negotiate it on your behalf. Whilst the vendors are aware that an offer will usually be made, it is not unheard of for a vendor to refuse to entertain a purchaser if the offer they have placed is too unreasonable. I know the vendors and will be able to guide you accordingly to ensure that all parties reach a satisfactory outcome.
Compromis de Vente (Contract of Sale)
A bilingual version, French and English, prepared by a translator appointed by the Cour d'Appel de Bordeaux for the translation of legal documents.
The compromis is a straightforward document containing primarily;
I will prepare this document for you. Despite what some would have you believe about the buying process in France being very complicated, I would say that it is in fact simpler than in the UK if handled correctly. The French administration love their paperwork and providing all the legwork is done at the outset the sale should proceed without complications. Collating this paperwork and preparing the files for the Notaire is my responsibility. Getting detail right at this point is crucial. Notaires are much more thorough and expedient in their duties when they know that the agent involved is keeping an eye on them. And I do!
Rapport du Expert Immobilier / The pre-sale inspection
This is not a survey in the UK sense of a survey, it is a legal requirement, and your signature on the compromis is not valid until you are in possession of the report. You cannot agree to buy something until you know what it is that you are buying!
I work with trusted and professional people and the experts immobiliers are no different and provide me with the service I and my clients need. I can usually expect a completed report within 5 days. A French copy for the vendor and the notaire and an English copy for you, if you would rather it. I will check its contents, draw your attention to any matters that you need to be aware of and advise you accordingly.
The vendor is required by law to have a parasite inspection carried out at their expense. This will assess whether there is any evidence of termite infestation. Although still rare in this region, evidence of them would allow you to void the contract or arrange with the seller for a programme of eradication, again at their expense. The report will also give you some idea of any other potential problem that needs treating, for example woodworm. In fact, many old buildings have various traces of active or inactive parasites and treatment is simple and inexpensive.
The report will also advise you of any existence of asbestos or, in some areas, lead traces. These are merely health and safety warnings. It means that you can take the necessary care when carrying out any work to your property. For example, wearing a mask if you are stripping old lead based paint from a window frame!
Le Loi SRU / Reflection period
The most important part of this law is that once you have signed the compromis you are given 7 days to reflect on the decision you have just made. This period does not commence until the day after you have received the signed compromis and the rapport d'expert immobilier both of which are sent to your postal address and a signed receipt of its delivery to you is sent with your file to the notaires office. If you are going to be in France at this point it is also possible for you to be given your entitlement to this period of reflection at a notaires office. It is the notaire that confirms you have received the requisite notice.
Be aware that some agents may try to have you believe that your 7-day period starts earlier than how I have described it above. It is not true.
At the end of this 7-day period you should have arranged for your depot de guarantee, deposit, to be paid. The Fonciere Charentaise operates an insured and non-interest earning suspense account for this purpose. Your deposit, normally 10% of the net vendor price, is held in this account until completion day when it is transferred to the Notaire's account for settlement. Upon receipt of the deposit in our account I will issue you with a receipt. You must never agree to pay this deposit, or indeed any other monies, to an individual and an individual should never ask you to pay it to them.
Mortgage and Loan Applications
If you are applying for a mortgage or loan to buy your property the compromis provides you with safeguard clauses to ensure that your deposit can be returned if your mortgage or loan application is unsuccessful. Normally, and with the agreement of the seller, you have 60 days from the day your compromis becomes valid to secure the financing that you need. By the end of those 60 days you must have either the confirmation or the refusal letter on the notaires desk. The affect of the receipt of these documents will be either to move the sale ahead or annul the contract. Where the contract is annulled you will be entitled to the return of your deposit. It is always advisable to get an in principle agreement from a lender beforehand to avoid disappointment.
I will liaise with your financial adviser or lender on your behalf. They will need copies of the compromis de vente and accompanying documents and I will ensure that they get all they need to ensure that a speedy decision can be made.
I have local contacts with banks and financial service providers that can assist you. Please ask me for more information if you need to.
Outline Planning Permission (certificate d'urbanism)
An agent should be very hands on in this area. Notaires may apply for it on your behalf but they are not as intimately involved in your plans and ideas as the agent is, or should be.
Where the property requires renovation or a change of use or simply installing a swimming pool outline planning permission should be sought from the Mairie and the planning department. It is the owner that applies for this and it is I, on your behalf, who prepares the documents with the vendor and submits them to the Mairie of the commune where your property is situated. Responding to this request can take up to two months and it is therefore imperative that it is submitted immediately after the compromis is valid. I ensure that this is ready to happen.
Never ever be fobbed off with, “it will be fine”, “I’ve never heard of it being refused” and the like. You are making a large investment and you need to be sure that you can achieve your plans. If the agent is not prepared to help you in this very important area then again, methods and motives.
Crucially, where you are applying for any kind of outline planning permission, I will make sure that a relevant suspensive clause is inserted into the compromis to ensure that if the response from the planning department is negative that you will be entitled to renegotiate or annul the compromis and in which case recover your deposit.
An agent should not hesitate in inserting such clauses into your contract where their insertion is designed to protect your interests.
la loi sru/ reflection period
A 7 day period commencing on the day after you have received the signed copies of the compromis de vente and the expert immobilier's report by recorded delivery or other means that provide for a signed copy of its receipt, or
The 7-day period commencing after you have signed the compromis de vente with the vendor at the notaires office.
notaire
The state authorized professional required for the legal transfer of property in France. He carries out the necessary searches and prepares the deeds. He is also charged with the collection of the land registry fees and purchase taxes. He is impartial and in many circumstances will act for the vendor and purchasers. I work with most of the local notaires, some of whom speak good English although I deal with them on your behalf.
certificat d'urbanism / outline planning permission
Where there are changes planned for outbuildings, renovations and changes of use to barns, the installation of swimming pools, extensions or additions to existing properties or building on vacant land it is essential to have the consent in principle from the planning department and the Mairie to do so. You should not take chances in this area. A responsible agent will deal with this on your behalf.
compromis de vente / contract of sale
The document signed by both the vendors and purchasers setting out the condition of sale and the price to be paid for the property. Prepared by notaires or registered agents. It should contain any suspensive clauses relating to your purchase of the property. The compromis is delivered to you with the experts report
clauses suspensive / suspensive clauses
Some clauses regarding mortgage or loan applications and disclosure of defects are already contained in the compromis de vente. Where specific issues arise, for example a request for outline planning permission, installation of swimming pools, existence of a suitable sanitation system, land divisions and works to be completed by the vendor prior to the sale then I will draft appropriate suspensive clauses to ensure that you have the necessary safeguards in place.
rapport du expert immobilier / the pre-sale inspection
The obligatory survey carried out at the expense of the vendor to determine whether there is a parasite problem and the existence of asbestos. In some areas a lead inspection is obligatory on properties built before 1997. The parasite report is valid for three months and a renewal needs to be obtained if the completion takes place after the three months. Your compromis de vente is not valid unless you have this report and your reflection period does not commence until it has been delivered to you.