Author: The ESREA France Team

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What is a Pret Immobilier in a French real estate transaction?

When you go to buy a property in France and you need financing you will obtain a mortgage, in France a mortgage is called ‘Pret Immobilier’.

To obtain a ‘Pret Immobilier’ in France at this time is a complicated process and your property purchase agreement needs to allow 45 days for you to obtain your finance.

Important: confirm this timing with your French Notary and French banker.

In addition, make sure you know all you need to obtain a mortgage in France before you go shopping for a property.  Let us assist you by placing you in contact with an English speaking French banker or English speaking French Courtier. You have no obligation to work with the person. We simply want to offer you assistance to find someone who can help you in your native language. Simply go here to contact us.

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What is a Courtier in a French real estate transaction?

In France the word ‘Courtier’ is used to describe the work of a mortgage broker. He or she does the work of assessing your financial capability and searches for the best priced loan for you.

Note: Coutiers in France typically charge you a fee for their services, they may also receive a fee from the bank that obtains your mortgage.

If you would like to speak with an English speaking French mortgage broker to find out how to qualify for a bank loan in France contact us here.

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What is a projet de compromis de vente in a French real estate transaction?

what is project de vente

In a French property transaction the notary or notaries involved will send a draft copy of the compromis de vente to both the buyer and seller.

They do this so all parties can review the document and request any changes or corrections made before the day when all parties meet to sign the compromis de vente in the presence of a French Notary.

This draft of the compromis de vente is called a projet de compromis de vente.

When reviewing the projet de compromis de vente it is really important you understand what you are reading. Take the time to have a professional translator or your English speaking French notary who can translate and explain the details to you.

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French Property: How to avoid flood damage

french property flood preparation and response

When you are in the process of buying a French property you will receive diagnostics documents from your French notary that include details about the location of the land and the possibility of flooding.  Make sure you check this document so you know and are willing to accept the pending danger.

If you choose to buy a French property that could be flooded consider the following and seek more advice from your local city hall and experts on flooding.

One

When you hear of a pending flood keep your radio tuned to a local news station, if you don’t understand French have a friend who understands French listen to the radio for you and keep you up to date.

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Two

If the flooding is unavoidable then shut off all electrical power in your home or apartment. If it is recommened to shut off electrical power even if the possibility of flooding is not guaranteed shut off power immediately.

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Three

Make sure that your home or apartment has ways to minimize the potential damage to electrical, gas or fuel heating systems. If you are renovating a home in a potential flood area consider what you can do to avoid potential damage should a flood happen.

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Four

Make sure you store any toxic chemicals away from being touched by water to avoid contamination to the environment as a result of water reaching these items.

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Five

Respond rapidly to the local emergency advice on the need for you to leave your home. Even if it does not look like your home is going to be flooded you don’t want to take the risk and find out you misjudged the situation by ignoring professional advice.

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Six

Avoid driving through flooded areas in your vehicle even if you drive a four wheel drive vehicle because you never know what has happened under the water (crack in the ground…) or what is under the water (bicycles…)

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Seven

Make sure you have an Emergency Backpack Kit like this prepared to allow for you and your family members to have equipment to survive a natural disaster in France.

Other articles to read include:

24 Items you can use to manage a natural disaster

Hazards to check for when buying a French property

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How much time is there between the signing of the compromis de vente and the Acte de Vente in a French property sale?

time between acte de vente and compromis

In general, in a French property sale there are three to four months between the signing of the compromis de vente and the signing of the Acte de Vente for a re-sale property. The biggest factor on the timing is typically the extra time allowed for a French property purchase when the buyer is purchasing using finance to purchase the property. In addition, if the property involves the buyer getting a building permit more time needs to be added.

The time period above is general and cannot be relied upon. You need to speak with your English speaking French notary and he will tell you how long the time will be in your specific situation.

NEWS: Have you seen our French real estate buyer’s guide that comes with a 100 percent money back guarantee? Here it is

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

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