Basic Facts - Buying Process - Costs
Visa / Residency - Health

Basic Facts

Population: 60.5 million
Capital: Paris
Native Language: French
Currency: euro (EUR)
Dialling Code: +33
Emergency Services: 112
Embassy: www.ambafrance-uk.org

Buying Process

• When a buyer has found a property and made an offer, both parties must sign a compris, which is a legally binding agreement that sets out all the terms of the sale
• Financing must be sorted out at this stage as any details will be outlined in the compris
• There is a seven-day cooling off period, which gives only the buyer the opportunity to withdrawal from the deal without penalty.
• A 10% deposit is then paid.
• The notaire then carries out all the checks on the property.
• Before the final signing, all funds must be transferred to the notary's account.
• The buyer or representative of the buyer must visit the property just before signing to make sure everything is in order. The contract states the property is accepted in its condition on the day of sale.
• Finally the acte de vente is signed in front of the notary and the sale in completed

Cost

• Notary fees: 1% to 2%
• Stamp duty: 0.6% on new built property. 6% on resale property over 5 years old
• Transfer tax: up to 7%
• Estate agency commission: 7% to 8%
• VAT (IVA) of 19.6% on all fees

Visa / Residency

France is a full member of the EU

Health

The standard of health care in France is excellent. Every treatment has a fee, but patients who contribute to the social security through wages can reclaim 70%.

 

Back to Buying Guide menu