Loi Alur has created a Problem for French Propery Sellers

The new French housing act (Loi Alur) that came into effect at the end of March this year has had a big impact on the sale of ‘co-property’ residences in France.

The impact is negative for sellers because this new French housing act requires a number of documents that must be given to the buyer before the seven days of reflection period can start.

The problem is that the owners, the owner’s notary and the syndic for the residence may not have the documents on hand and have to search for the needed documents and this can be costly.

Currently according to some notaries the signing of the ‘compromis de vente‘ has been delayed by up to four weeks while documents are being requested.

The good news is that as of January 2015 French property management companies are to create ‘an extranet’ where owners can access the documents directly to speed up the sale process.

If you want to learn more so you are prepared in your sale or purchase of a French property contact an English speaking French notary or English speaking French real estate agent. Need assistance? Use our network, we can help you connect with a professional at no charge to you. Contact us here.