When you are buying a new French property before it is constructed you will need to know at a minimum the below steps involved.
One
contrat de réservation
The first step you need to take when you want to buy new French real estate ‘off plan’ is to acquire an option to buy which is called a ‘contrat de réservation’. Typically you pay a deposit of no more than 5 percent of the purchase price to secure your option to buy.
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Two
The conveyance which is called ‘acte de vente’
This is the stage in the purchase of a new French property when you as a buyer are invited to exercise the option to purchase the property you purchased an option on. This time, according to our research, is when you will actually take title to the property as a buyer and you pay an additional amount of at least 30 percent of the purchase price.
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Three
Handover of the keys known as ‘remise des clefs’
This is the final stage of your purchase as a buyer and when you inspect your new French property and pay the balance of all the money you owe to the developer.
To make sure all this information above is current and applicable to you we recommend you speak directly to an English speaking French Notary.
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