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a sales contract, the Compromis de vente, and you’ll be expected to give a reservation deposit – that’s usually about 10% of the purchase price.

Now the whole process of buying any type of property or land in France is strictly regulated and takes a set course.

When you have signed the Compromis de vente, you have a 7 day cooling off period. That gives you 7 days in which you can change your mind without fear of losing your reservation deposit, and before you commit yourself to the purchase, it’s probably the best time to have a structural survey done,
The Compromis de vente is an important document. It is a contract and it includes details of the person selling the property (the vendor), You (the purchaser), details of the property and the purchase price, and the date or the time limit when you should complete on the property purchase. It can also include conditions, which are important to protect both the vendor and the purchaser, but regard the Compromis as a time bomb ticking away. If the purchase does not complete, then the reservation deposit may be forfeited, but I’ll explain about the Compromis in detail at a later date.

But next week, I’ll explain how to calculate the maximum amount of mortgage a person can borrow from French bank
So listener….get your pen and paper and if you are like me, you’ll need a calculator at the ready…….
But in the meantime, if anyone would like to know more about how much they can borrow with a French bank, the monthly cost and a guideline to the purchase price of a property, please visit our website www.mortgagefrance.com and complete the ‘Initial Enquiry’ form.

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