As well as answering any questions on properties prior to your visit a good agent will spend time with you in our office before going to view properties so that we can listen and discuss in depth your requirements.
Once you have chosen which properties you wish to view you will be asked to sign a "bon pour visite" and "mandat de recherche". These forms confirm, among other things, who introduced you to the property, the amount of agency fee payable and confidentiality clauses. Completion of these forms is standard practise with all French estate agents and a good French agent will provide with a translation of these documents before signing them.
Once on the road they should be on hand to offer advice, translate and anwser any questions you might have throughout the day.
After an interesting, exciting and hopefully fun day visiting properties, if the agent has done his job properly and listened to your requirements, you will have found the property for you. At this point they will liase with the vendor on your behalf to agree a price and then discuss any terms with you that might need to be inserted into the first contract (Compromis de vente) such as planning permission or mortgages requirements. When the offer is accepted the property should then be taken off the market.
The agent will require copies of your passport, birth and marriage certificates and when they have these documents they can start to draw up the compromis de vente. A good agent will go through the compromis de vente with you and will answer all your questions and clarify any points that you are uncertain about. They should also check the boundaries and any rights of ways there might be and will assist with technical legal questions such as ownership and succession and laise with the Notaire to ensure you wishes are met.
Once the compromis de vente has been signed all parties receive copies and you then have a 7 day cooling off period. If for some reason you decide not to proceed with the purchase you must inform the agent in writing within this period and the letter must be sent by registered post.
The time it takes to complete the sale can vary depending on circumstances but generally it takes approximately 3 months. During this time the Notaire conducts the required searches and draws up the Acte de Vente which is the second and final contract of sale. The Notaire also checks that nothing is going to affect the value of the property as well as whether it has any outstanding mortgages.
About two weeks before completion the balance of funds need to be transferred to the Notaires account. In time for completion insurance arrangements will be need to have been made for your new property. On completion day both parties attend the Notaires office to sign the document (that's unless you have a power of attorney). Once signed congratulations are in order as the property is officially yours
Mark Russell, Limousin Homes
Web: http://www.limousinhomes.com
Email: info@limousinhomes.com
Source: www.articlealley.com
