Step 1: Search for the property to buy

The search for real estate can be carried out by different means. You can start by looking at free and paid real estate platforms and/or entrust your real estate search to a real estate agency via a search mandate.

 

Step 2: Carrying out YOUR real estate estimate

Have you just found your favorite, and do you want to buy this property quickly?

It's great! Be careful not to forget to carry out YOUR OWN estimate of the value of the chosen property, including all the charges that will apply to it!

Firstly, it is recommended to analyze the price per M2 and the average selling price of properties sold in the same sector and then add all the characteristics that make it up to your diagnosis. (It is recommended to carry out the study of the positive points vis-à-vis the negative points.

This purchase price will have a significant impact on the total cost of your real estate project, notary fees, agency fees and the financing cost are proportional to the price of the transfer.

Would you like help with your real estate valuation? Benefit from our services for free

 

Step 3: Completion of the purchase offer 

The offer to purchase is a written document which underlines your seriousness towards the transferor, it is a contract which, if the seller accepts it, will lead to the realization of a sales compromise (also called a promise of sale ).

In the event that the potential buyer refuses to purchase the property after signing the purchase offer and the sales agreement, be careful of the damages that this may entail...

But how to make a purchase offer? 

The purchase offer can be made directly to the owner or alongside the real estate agency in which it is being promoted.

It is imperative to include the following elements:

 

• Buyer’s details, place and date of birth, profession….
• Proposed purchase price
• Financing solution
• Validity period of the purchase offer
• Conditions/suspensive clauses*

* It is important to include suspensive conditions in your purchase offer, these will allow you to cancel the sale if one of them appears during the sale.

For example: Cancellation of the sale if the bank refuses the loan, etc.

 

Step 4: Selection of the Notary

Your purchase offer has just been signed! Direction the notary office

The buyer may wish to propose his own Notary to the transferor who already benefits from his own.

In this way the Notarial studies will work together to carry out the sales agreement/promise to purchase.

Warning! You have the possibility to negotiate notary fees as well as real estate agency fees (Before completing your sales agreement).

 

Step 5: Search for the best financing 

Your negotiations are done, you now know the final price of your project and it is time to start looking for your financing.

(The best would have been to have an oral estimate from your bank advisor before making the purchase offer and the sales agreement) But it doesn't matter! From a legal point of view, you have 3 months of time between signing the sales agreement and signing the authentic deed to find one/OR SEVERAL!

It is preferable to request it from several banking establishments (Even if you are not yet a customer).

Give yourself the opportunity to obtain several rates, several deadlines and amounts. It is entirely possible to put banking establishments in competition!

Also, don't neglect negotiating your loan insurance!

This is a significant expense and if it makes you shudder, it is entirely possible to request an insurance delegation.

 

Step 6: Completion of the sales agreement / Promise of sale

What is a sales agreement?

The sales agreement is a “pre-contract” allowing the final contract to be prepared: This is the authentic act.

This is in fact the official declaration of the seller wishing to sell to the buyer. It includes the terms and characteristics of each party, without forgetting the suspensive conditions.

The sales agreement is a unique contract for each transfer.

How does the signing of a sales agreement take place?

The real estate agent in collaboration with the notary office brings the parties together on fixed dates for the signing of the sales agreement.

During this meeting, the notary reads point by point, to ensure that all parties are in agreement.

The buyer may be required to pay a deposit to guarantee his commitment (between 5 to 10% of the net seller price), sums which will be deducted to the buyers from the transfer price when signing the authentic deed, if and only if, the purchaser does not withdraw and/or if the contract were to be canceled.

The sales agreement will be signed in as many copies as there are parties.

 

Step 7: The deed of sale / The deed of transfer

It's D-Day, the signing of the authentic deed!

The notary will carry out a full reading of the deed of sale (reiteration of the sales agreement) to definitively conclude the sale.

Please note, the acquisition funds must be in the escrow account of the notarial office before the date of signature of the authentic deed.

Once the authentic deed has been signed, the sale is definitively concluded, the notary will give you a certificate of ownership (useful for future administrative procedures: subscriptions to water, gas, electricity subscriptions, etc.).

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