FrenchEntrée.comThe guide to property, holidays and life in France | |
| Property Buyer`s Guide | |
The role of the Notaire in French property purchaseWho they are and how they work...Who is the notaire? The institution of notaire dates back hundreds of years and the notaire has always worked for the state as a certifier of legal documents. During a property sale, the notaire ensures that all the proceedings comply with french property law. Whether the property is bought direct through a notaire or through an agence immobilier a notaire still has to oversee the legal aspects of the sale. The notaire will assist all parties to make sure that the process of selling the house runs smoothly. They are also responsible for receiving all contracts and checking there authenticity. Some British buyers feel uneasy about having a single notaire and appoint a UK-based legal advisor, specialising in French law, to advise them and check the paperwork. This will of course cost extra. Many of those who have done this believe that it has been worthwhile, while others have regarded it as a waste of time and money. It all comes down to whether the adviser finds anything worth querying or altering, and this is down to individual circumstances. Such advisers can be found here in our Law Directory. For further advice on legal issues see our Law Zone. Some buyers appoint a second notaire – there is no reason why they cannot do this, and, as long as the two notaires are able to share the work, it need not cost more. Nevertheless, in most cases only one notaire is used. What the notaire will do? The notaire will be happy to advise on specific items, such as ensuring that the buyer chooses a suitable regime for purchasing in order not to fall foul of French inheritance laws. See our Tax Zone for further tax information. Although notaires will not normally volunteer such information, if asked a specific question they are expected to provide an answer. They will check each party’s rights to buy or sell the property. They will conduct a search in the land registry to see whether there are any third parties with a claim on the property. The notaire will ensure that there are not any pre-emptive rights on the property. They will attend the signing of all contracts from the Compromis de Vente to the Acte de Vente. When signing the final contract (Acte de Vente), the notaire will read out the terms of the contract aloud to all parties. After completion, they will give a copy of the contract to both buyer and seller but keep the original deed, along with the mortgage registry. They will oversee the transferring of funds and ensure that all the taxes and fees are paid in full, including the buyer’s first mortgage and insurance payments. The notaire will instruct the Estate Agent to hand over the keys when the sale has been completed. If possible, it can be useful to use the notaire that has handled the property previously, because they will have many of the relevant documents on file. Fees The notaire charges a fee - usually between 2 and 8 per cent of the 'net' property price (the cheaper the property, the higher the percentage). This may be included in the price if buying via an estate agent but it is always important to check for sure. If two notaires are used, they will split the fee between them. Ultimately, a good notaire will make sure that both the buyer and the seller understand what is expected of them throughout the buying process, by keeping in contact with both parties and preparing them for signing of contracts and exchanging of funds. NB: The Notaires de France organisation has recently upgraded it's web site and includes a lot of useful information in English: www.notaires.fr Enjoyed this Article? Read the best of FrenchEntrée each month by registering for our French Property Tips newsletter. Site Map FrenchEntrée.com Home Page Looking for a property in France? Use FrenchEntrée's Property Finders to help you find your property and to help you through the buying process 
| Back |