Edwin Cottey B.A., N.P. Solicitor & Licensed Estate Agent
Tel: 0033 494 997200. Email: firstname.lastname@example.org
Buying Property in France
Buying a house in France is different from buying in England in that a binding contract is entered into at an early stage. While this means that the problem of gazzumping does not exist, it also means that care must be taken when lodging an offer. It must also be remembered that properties are often placed with several agencies at the same time. This means that once you have made up your mind to buy, you should not waste time in signing a contract since another agency may have a client who is similarly minded.
The add-on costs are greater than in Britain but are coming down. Whereas three or four years ago you would have to add about 10% or 11% to the price for legal expenses, today between 6% and 7% is sufficient. Unlike Britain, legal expenses are borne solely by the purchaser. The seller is of course responsible for the agent's commission which is included in the selling price of the property.
Edwin Cottey, B.A.,N.P.
Solicitor & Estate Agent
C.P. Licence No. 3873 - Prefecture du Var, France
83550 Vidauban, France