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Why do they say to the buyer Caveat Emptor in a French real estate transaction?

English speaking French Agent

I was told by my notary that in French real estate the buyer essentially buys a property in ‘as is where is’ condition and has little if no guarantee by the owner. This is why it is said to the buyer Caveat Emptor which in English means Buyer Beware.

So make sure you have a knowledgeable real estate agent and notary working for you to advise you on all the checking you need to do. This is to make sure you are only taking risks that are acceptable to you.

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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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What is the French equivalent to the signing of the conveyance of the property?

english speaking French realtors

In France at this time the signing of the conveyance of the property is the called signing of the Acte De Vente / Acte Authentique. It is during this action at the notary’s office the transfer of ownership takes place.

If you would like to know what happens before and during the signing of the Acte De Vente / Acte Authentique follow this link

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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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What does TTC mean when written after honoraries in a french real estate agency?

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TTC means that all taxes are included in the agency’s fees for service.

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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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What is the SRU law in a French real estate transaction?

English Speaking Realtor France

The SRU law is a mandatory seven day (now 10 day) cooling off period for the purchaser that is required in most residential transactions. As of the time of writing this law still exists.

This period starts once both parties have signed a copy of the contract and a copy of the contract (compromise de vente) has been served to the purchaser. This right to withdraw is only available to the buyer and not to the seller.

IMPORTANT NOTE: Some purchasers do not qualify to use the SRU law to end a contract. Make sure you speak to your French notary about this SRU law and how it applies to you before you sign a French property purchase contract.

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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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What is the délai de rétractation in a French real transation?

In France the ‘délai de rétractation’ is the second name for the SRU law, the seven day mandatory cooling off period given to individual buyers of property in France once they have signed a contract to purchase most residential property.

During this period of time the buyer can annul the contract and the seller has no comeback. In contrast, the seller does not have this same option to cancel.

Important Note: there are exceptions to this rule, that is not everyone is permitted to use this 7 day cooling off period exit rule to cancel a contract. Make sure you are qualified by speaking with your French notary before you sign a French property purchase contract. 

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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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