In France, the process of transferring a property from one owner to the next is officiated by a French Public Officer, a Notaire. The Notaire acts on behalf of the French State and so there is only one Notaire involved in the transaction; not as in the UK, two solicitors - one solicitor for the Seller and one for the Purchaser. The Notaire gives the transaction absolute validity that cannot be contested.

The fees for the transaction, the Notaire's fees, are regulated and based on the sale price of the property, and are normally paid by the Purchaser. These fees are in addition to any negotiation or Agency fees that may have been agreed as part of the agreement to purchase a property. Although one Notaire usually acts on behalf of both the Seller and the Purchaser, the Purchaser may elect to have his own Notaire involved in the process. In this case the fees are shared between the two Notaires.

The Initial Agreement

Directly a price for the sale of a property has been agreed between the Seller of the property and the potential Purchaser, the Notaire draws up a "Compromis de Vente", an agreement which forms the basis for the sale of the property. (In UK terms, this can be seen as similar to the "Exchange of Contracts"). Reports on the property in respect of lead, asbestos, termites and Energy efficiency are prepared and included as part of the Compromis. The agreement is drawn up in the presence of the Notaire, the Seller and the Purchaser. If the three parties cannot be brought together at the same time, then the Notaire will arrange for the Seller and the Purchaser to individually sign identical documents, from which he/she (the Notaire) will raise the Compromis de Vente and declare that an agreement to sell and buy has been agreed.

This initial agreement (Compromis de Vente) commits the Seller and the Purchaser to the sale/purchase, although the Purchaser (only) has a "cooling-off" period of 7 days during which he can cancel. At this point, the Purchaser will pay a deposit, normally 10% of the price of the property, which is held by the Notaire.

The concept of the UK "chain" does not exist; the sale of the property is normally viewed in isolation of any other transactions and it is not unusual for the Seller to move into temporary accommodation to conform to the Contract of Sale.

At about this time, a date will be agreed for the Acte de Vente (see below), the date when the property will be transferred or sold ("Completion" in UK terms). This is generally three months, or perhaps a little more, after the Compromis de Vente.

Between the Compromis de Vente and the Acte de Vente the Notaire will make his inquiries into the sale, any impacting planning or environmental issues and any issues regarding mortgages.

The Acte de Vente (the transfer of ownership to the Purchaser)

After the three month period, which can be extended at the agreement of both parties, the final contract, the Acte de Vente (or Acte Authentique), is signed by the Seller and the Purchaser at the Notaire's office and the property passes to the Purchaser. At this meeting, the Notaire pays over the full purchase price to the Seller and so prior to the Acte de Vente the Purchaser must transfer all the outstanding monies due, to the Notaire.

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