The Selling Process
Once you have decided to sell your property the procedure in France is as follows:
- Acquire realistic valuations of the property in order to establish the current market value of the property.
- Select a sole agent or multiple agents to list the property.
- Agree price and commission with said agent/agents.
- Sign an exclusive or non-exclusive sales mandate with chosen agent/agents. Be sure to agree duration of the mandate.
- Provide agent/s with a copy of the original sales deed or ‘acte de vente'.
- Provide agent/s with as much relevant information as possible. i.e. copies of all recent taxes, bills, rental income etc.
- You have a legal obligation to have the property officially measured in keeping with the ‘loi carres.’ You are also required to have the property checked for the presence of asbestos (only for buildings constructed between 1980-1997) This is a relatively simple process and your Notary or agent can generally help with this.
- Once you have a potential purchaser and the ‘pre-sales contract’ or ‘compromis de vente’ is signed, the entire sales process takes 2-3 months.
- The Notaire may act for both seller and buyer although as the seller, you are entitled to instruct your own Notaire. The buyer will pay the fee but should you chose to use your own Notaire, the fee is split between the Notaires with the buyer paying both parties.