It is essential for sellers to work with a reliable contact to fully understand the sales process. By dealing with a professional and competent person in their field, sellers feel confident and can conclude satisfactory agreements. We assist you in managing potentially complex legal, cultural, and linguistic aspects. With our expertise in the sector, we will guide you throughout the sale of your property or the purchase of your dream property.
Do not hesitate to contact us for any questions or if you need advice!
The first step in selling a property is signing a sales mandate with a licensed and registered real estate agency in France. This mandate, in compliance with a regulatory model, includes information such as the owner's name, the property's address, property description, fees, mandate duration, sales conditions, and termination terms. There are two types of mandates in France, exclusive and non-exclusive. We recommend discussing with your real estate agent to choose the one that best suits your situation, as it can significantly impact the sale and the final price.
The exclusive mandate with CEI Real Estate Agency offers multiple advantages when you want to sell your property:
For more details on sales procedures, visit us at the agency where we will be happy to explain the process to you.
When selling a property, the seller must carry out technical diagnostics including elements such as the surface area (living space law if the property is part of a co-ownership), energy consumption, natural risk assessment, the condition of electrical and gas installations, the possible presence of lead, asbestos or termites, and the conformity of the sewer connection or individual sanitation. The seller must also provide a property certificate and the amount of property tax. In the case of co-ownership, additional information must be shared such as charges, general assembly minutes, and the co-ownership's statutes.
In France, the buyer can make an offer at the price or a lower offer. The seller agrees to sell if the offer meets the price and sales conditions. The offer is usually formalized in writing, without commitment from the buyer. The seller must think carefully before accepting an offer, as once accepted, they are obligated to sell without the possibility of withdrawal. The buyer can thus claim damages if the seller ultimately refuses to sell the property. The buyer, however, can withdraw even after accepting the offer.
The notary is a qualified professional responsible for preparing and verifying the documents related to the sale. They are also in charge of registering the sale and can advise on inheritance and donation matters. Most often, buyers and sellers are represented by their own notaries, who then share the fees without increasing the cost of fees. Notaries must be neutral and impartial. Their final responsibility is directly linked to justice. Notary fees, also known as acquisition fees, include various taxes and fees such as stamp duty and shipping costs: they represent about 7.5% of the purchase price of old properties and 2.5% of new properties. Notary fees are borne by the buyer. CEI Agency cooperates with a number of reliable notaries.
The pre-contract is drawn up by us, or failing that by the notary, and includes all the conditions of the sale. It must be very precise, as it represents the basis of the final agreement. This document contains all the purchase conditions such as:
It also describes the circumstances under which the contract can be terminated without penalties; this can be the case, for example, if the property involves building permit restrictions or if the buyers' bank loans are ultimately not granted. The signature of this agreement commits the seller. The agent must carefully check that all mandatory information is included and that the contract does not contain clauses that would negatively affect the seller.
The buyer is legally allowed to withdraw free of charge within 10 days following the signing of the pre-contract, having received a copy of it signed by both parties (buyer and seller) accompanied by the attachments, either in person or by registered mail with acknowledgment of receipt. It is important to note that the 10-day period only starts after the buyer has received all the attachments related to the property; it is not enough to have simply signed the pre-contract. At the end of these 10 days, the withdrawal period ends. The deposit, between 5% and 10%, is deposited in a special client account. It must reach the notary no later than 10 days after signing the pre-contract, provided, of course, that the buyer wishes to proceed with the transaction.
Once the notary has completed all the checks and received all the necessary information related to urban planning and approved mortgage loans, the final agreement known as the “authentic sales deed” can be signed. It usually takes two to three months between signing the sales agreement and the authentic sales deed. On the contract date, the notary ensures that the purchase price has been received in the account. Moving into the property takes place the same day as the signing of the agreement, so the property must be vacated before the signing. When the contract is signed, the keys are handed over to the buyers, and both parties receive written proof of the sale.
The notary transfers the funds to the seller after signing the contract. The notary also ensures the proper completion of all transactions related to the sale, such as income tax, loan amounts, or due fees. The agent is not authorized to receive the sales commission until the final agreement is signed. CEI Agency can help you in advance to estimate the amount of the capital gain.
The notary registers the sale. The final settlement takes place a few months after the sale. This will be sent with a copy of the legal act, called the “authentic copy of the sales deed,” addressed to both parties by post. Do not hesitate to contact us for any questions or if you need advice!
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