What is a “Notaire”?A French “Notaire” (Notary) is a publicly appointed official who is responsible for ensuring a property has good title (ie, no irregularities in the ownership) and that the purchase or sale is correctly undertaken. Because Notaries are personally responsible for the contracts drawn up they must be objective in the advice they give and be impartial in their dealings with the parties concerned. A “Notaire” represents neither the seller nor the buyer but the French Government. The same Notaire usually acts for both the vendor and the purchaser. This is not obligatory and you can appoint your own Notaire if you wish. The fees (paid by the purchaser) are fixed by law and will be split between both Notaries if two are appointed. You should be aware that the Notaire's job is to finalise the agreement he has been told has been recorded. He is not there to advise or warn the purchaser of any inadequacies in it. His role is therefore very different from that of a solicitor. If you are making a purchase with a mortgage, you should at least instruct the Notaire or the estate agent to make your purchase conditional upon obtaining a mortgage (agreement called “clauses suspensives”). This will offer you further protection under French Consumer Law. Upon signing this preliminary agreement the purchaser has to place a deposit with the Notaire, which is normally 10% of the purchase price and will be deducted from the sale price. Final SigningSince the “Compromis de Vente” is signed, the Notaire will check records and documentation regarding the property and land, such as land boundaries or right of ways. The Notaire is responsible to make sure the necessary searches are done; that the termite, lead and asbestos inspection reports are complete and available for the buyer’s inspection, and to inform the buyer of any servitude rights or the new laws regarding septic systems. A “Notaire” is legally bound by law to act in the interest of both parties and must disclose to buyers and sellers all the legal requirements prior to a sale. It generally takes 2 to 3 months to complete this process. Both the buyer and the seller will then meet at the Notaire’s office for the signature of the “Contrat de Vente” (deed of sale). You will be given the keys of the property on that day. |
The Buying Process
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