What does a French Notary do in a French real estate transaction?

 

French Apartment with a Beautiful balcony

The French notary is responsible for many actions during the sale of a French property.

Here are nine examples,

One

They will check for any third party claims on the property

Two

They will check to see if anyone else has a right to purchase the property like the local city hall

Three

They will confirm the right of the buyer and seller to be involved in the transaction

Four

They are involved in the creating of the Compromis de vente

Five

They are involved in the signing of the Act de Vente

Six

They will provide the buyer and seller with a copy of attestation of the sale

Seven

They keep the original deed of the property

Eight

They are responsible for the transfer of funds for the purchase and the payment of the taxes required as part of the transaction

Nine

During the the signing of the Acte De Vente the Notary will read out the terms of the contract to all parties present in French. This is why it is important you have an English speaking notary available to explain anything you do not understand.

Below you can get your free introduction ebook about French real estate mistakes to avoid

Get your FREE copy today

Request below via the sign up form. Just scroll down, add your email and click Subscribe

This request also entitles you to our biweekly ezine and you can unsubscribe anytime.

Videos/Free eGuide 10 Mistakes Made by French Property Buyers and Sellers

* indicates required



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

How do you qualify to be a real estate agent in France?

French garden window Apartment French Riviera

Below is a general overview of how working in real estate is set up in France.

Note: rules change so to be up to date you need to confirm all this information with a French real estate licensing office.

One

An ‘Agent Immobilier’ or a French real estate agent is governed by a French law called ‘Loi Hoguet’ and new rules in a French law called ‘Loi Alur’. There are always additional new laws pending. Check with a French real estate licencing office.

Two

The laws are designed to protect people buying real estate in France from low standards of competence and ethics. Each agent immobilier / real estate agent must have a license called a ‘carte professionnelle’ .

Note: New rules came into place in 2015 that are adding increased standards for professional competency and integrity for French real estate agents. This is excellent news as it will raise respect for the French real estate professional. Here is an overview of the changes written in French.

French Riviera apartment for sale NICE

Three

In contrast to the ‘Agent Immobilier’ (real estate agent) that is in charge of a real estate office, the ‘agent commercial’ (salesperson) does not have a ‘carte professionelle’ and instead operates under the license of the agent .

The agent commercial (negotiator) in general do not have to the same educational requirements or experience. They do have a special professional card that shows they are working with an agent immobilier.

NOTE: New changes arrived from Loi Alur that require the agent commercial to show they have the ability to work in the real estate profession in France and they now need to engage in formal training.  See details in French here.

Educational requirement need to be kept current.

 

English speaking French real estate agent

Four

As far as we are aware there are two types of ‘carte professionalle’ that can be obtained by a person wanting to become an ‘agent immobilier’ in France.
One allows the person to undertake the sale of property.
The other allows one to rent property.
They are not the same.

Five

We do recommend that if you actually want to earn money more rapidly as an ‘agent immobilier’ or ‘agent commercial’ in France you obtain as much professional training as possible, unfortunately, many new French real estate agents and agent commercial earn very little money because their knowledge and experience may be limited and they start to learn about how the real estate process works in France after they start in the industry.

To get up to date information and to learn more about becoming a real estate professional in France please contact the Préfecture (French administration office) in the department of France you wish to work in. Wikipedia list is here Please note services are provided in French.

 

French Riviera Real Estate: Notaries fear 2013 will be a bad year

French Riviera Home on a Hill

This Wednesday the Chamber of Notaries of the Alpes-Maritimes announced their numbers for real estate sales in 2012.

The most significant finding is a large decrease in the number of transactions, most notably a 17% decrease in the number of transactions of pre owned or used apartments. Interestingly, even with the reduction in the number of transaction prices for the used apartments has remained at approximately 3900 € / m2.

Overall according Hervé Paillard, president of the Departmental Chamber of Notaries,  2012 is considered a “balanced [year]” because the sale price offsetting the decline in the volume of transactions.

However, M. Paillard is much more pessimistic about the real estate market on the French Riviera in 2013.

“We recorded a decrease of one third of the sales agreements signed at the beginning of this year, compared to last year,” he says.

2013 could well look like 2009, the year in the black sector of real estate.

Read the original article in French here

French Tax and French Real Estate Educational Seminar

Historic French Building French Riviera

We have attended French Tax Seminars in the South of France from Blevins Franks. Their advisers explain important tax information relating to real estate at each event. The big bonus for native English speakers is that the seminars are in English.

Here is a link to information on one of their upcoming events

We are not affiliated with BlevinsFranks

Below you can get your free introduction ebook about French real estate mistakes to avoid

Get your FREE copy today

Request below via the sign up form. Just scroll down, add your email and click Subscribe

This request also entitles you to our biweekly ezine and you can unsubscribe anytime.

Videos/Free eGuide 10 Mistakes Made by French Property Buyers and Sellers

* indicates required



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

Can the buyer and seller have separate notaries in France?

Historic French Windows

In a French real estate transaction both the buyer and the seller can use separate notaries or the buyer and seller can decide to use the same notaries. As a buyer you are not obliged in any way to use the seller’s notary.

Date of posting September 2013, note rules are subject to change confirm with a notary today about your rights in a French real estate transaction.