How long does it take to purchase property in France? How long is the French home buying process?
You’re a potential buyer looking exploring the idea of purchasing your dream home in France… Perhaps, you’re starting your property research in France and want to get familiar with the property prices and types. Or, perhaps you’ve been looking online for a while and want to get a handle on what the best website and source is for property listings in France. Maybe, you’re even at the stage of planning your viewing trip to France and want to know what new properties are on market. One of your top questions just may be the following:
*** TOP AMERICAN BUYER QUESTION ***: “How long does it take to purchase property in France? How long is the French home buying process?”
“Our expert answer - The reality is that purchasing property in France can take up to 3-4 months in total and even longer!! And the further surprise for many first time and American buyers is that the buyer’s ability to control or impact the time that the process takes is very limited, in direct contrast to the US. Read on for our full explanation!”
DO ANY OF THE BELOW SOUND FAMILIAR? TOP AMERICAN BUYER QUESTIONS FOR FINDING A DREAM PROPERTY IN FRANCE:
How long does it take to purchase a property in France?
Can I buy a French home quickly if I’m a cash buyer?
Why does it take ages to close on a French purchase?
What can I do to accelerate the buying process in France?
What’s the average time that a French property purchase takes?
What are the possible delays in purchasing French property?
What’s the typical timing when purchasing an apartment in France?
Is there a difference in the timing of the purchase process in France for apartments versus houses?
Why does it take so long for property closings to go through in France?
Are there tips to speed up the French purchase process for properties?
Are any of those questions * YOU * ?
If yes then read on for our * EXPERT ADVICE* !
*** OUR EXPERT ADVICE TO AMERICAN BUYERS LOOKING FOR PROPERTIES IN FRANCE *** What surprises many American buyers is the length of the whole purchase process in France. Purchasing property in France can take up to 3-4 months in total from when an offer is first accepted to completion when the funds are transferred and keys are handed over with proof of ownership documents.
Sometimes, the process can be accelerated (within reason) and other times, the process can drag on for much longer (we've had one purchase take nearly 1 year despite a motivated seller and a motivated buyer!). Why?!?
Well, that's a good question with a long and complicated answer! Here are just some of the top reasons why French property purchases can take much longer than you might imagine!
“France has its own rules and its own schedules. First and foremost is the schedule of the key person who handles all the legalities and formalities of property purchases and sales - the notaires. Notaires are French government representatives with their own schedules and their own long list of clients each with important priorities. ”
#1 REASON WHY PROPERTY PURCHASES IN FRANCE TAKE LONGER THAN YOU MIGHT THINK - NOTAIRES / FRENCH NOTARIES!
First and foremost, busy notaire schedules can be a factor in the timing of a purchase process. This is not only includes further delays during some of the typical summer holiday periods (particularly July and August) or during the end of the year when the holiday periods of Christmas and New Year’s can wreak havoc on the schedules of property closings… Having said that, there are always exceptions and we have personally assisted a buyer with a closing on December 30th that involved 2 notaires!!
In addition, when there are two notaires involved in the property deal as is sometimes the case (one notaire working with the buyer and the second notaire working with the seller), there are two very full government representative schedules to contend with and that can lead to further delays.
#2 REASON WHY PROPERTY PURCHASES IN FRANCE TAKE LONGER THAN YOU MIGHT THINK - LEGAL CHECKS AND REQUIREMENTS!
The second reason for the length of the purchase process is all the other aspects of property purchases that are are a legal requirement in France, including the obligatory diagnostics checks, checks on septic tanks (and sometimes checks on mains drains connections for certain communes), legal checks to ensure that the property is free from any liens or mortgages, and other issues (for example if the sellers obtained a government grant to renovate the property, often there is a requirement that this grant is paid back if the property is sold within a certain time period).
#3 REASON WHY PROPERTY PURCHASES IN FRANCE TAKE LONGER THAN YOU MIGHT THINK - BUYER FINANCING / MORTGAGE / SELLING OTHER PROPERTY!
The financing and personal situation of the buyer also can play a part in affecting the timing of the purchase process - for example, if the buyer needs a mortgage, that can further delay timing even if the mortgage is pre-agreed. If the buyer needs to complete the sale of another property in order to fund this purchase, then that also would certainly impact the timing of the purchase process.
#4 REASON WHY PROPERTY PURCHASES IN FRANCE TAKE LONGER THAN YOU MIGHT THINK - “SUSPENSIVE CONDITIONS”!
Sometimes in France, the buyers and sellers negotiate including “suspensive conditions” in the preliminary purchase contract. These are conditions that must be fulfilled in order to get to closing. Sometimes, the timeline for these conditions being fulfilled can be several weeks, months or even more of an open ended timeline.
We’ve already covered the most common “suspensive condition” that you will see - that is the requirement for a buyer to obtain a mortgage. On average, that can mean that the delay between the preliminary agreement and final closing is 3 months…
Another common “suspensive condition” is the necessity of the buyers to sell property in order to fund their purchase.
But there are plenty of other conditions that can be negotiated and can impact timing. For example, planning permissions (for previous works done or for new works that the buyer would want to do!). For example, it could be that the current owners did some changes to the property without finalizing all the necessary planning permissions and they now need to get those permissions finalized with the local Mairie / town hall. Or it could be that the buyers want to convert a barn into habitable space and the only reason they want to buy the property is if they have a guarantee that they can do that - so you will sometimes find this as a condition in the documentation.
Other examples include any changes or upgrades to the property that can sometimes be negotiated (for example, the seller putting in a new septic tank / fosse). Or even getting the diagnostics reports updated so that they are within their validity periods when the transaction closing happens. Other conditions you might see can also include having chimneys swept and central heating boilers serviced with the appropriate certificates.
#5 REASON WHY PROPERTY PURCHASES IN FRANCE TAKE LONGER THAN YOU MIGHT THINK - PREEMPTION RIGHTS… A VERY FRENCH CONCEPT!
Lastly, often times there are various preemption rights (essentially rights of first refusal) for various entities in France that can be triggered for property sales - from preemption rights for communes, to farmers, to prefectures and departments. And each one of those rights has a process of contacting the relevant authority with the property paperwork and going through the necessary process and waiting period.
#6 REASON WHY PROPERTY PURCHASES IN FRANCE TAKE LONGER THAN YOU MIGHT THINK - LIFE AND DEATH!
This is not a particularly pleasant reason, but it does happen unfortunately… in France, once the preliminary contracts are signed and the 10-day cooling off period for the buyers have passed, then both the buyers and the sellers are tied into the property purchase. HOWEVER, if the buyers (or one of the buyers) passes away, the deal falls apart with the remaining buyers (or inheritors of the buyers) keeping the original deposit paid. If, however, one of the sellers (or the seller if it’s one person) passes away, then the commitment to sell as part of the agreed sale to this specific buyer at this specific price stays. And it is a commitment that must be honoured. However, this can introduce a long process for additional paperwork with the inheritors having to undergo lots of additional paperwork in order to confirm their ownership and then still move forward with the purchase as agreed. It’s rare, but it happens!
“Not to worry!! It’s not all bad news!! The purchase process for French properties has advanced and modernized quite a lot in recent years! Which means that issues that could have caused further delays in the past, are no longer causes for concern or delay for American buyers!”
SILVER LINING - #1 ELECTRONIC SIGNATURES!
One point to clarify is that sometimes, American buyers believe that part of the reason for the long delays is the requirement for the buyers (or sellers) to be physically present in France for signing of the various documents! However, France has certainly come a long way in the past few years, and most notaires now accept electronic signatures and signing the paperwork by conference calls (or visio as they’re referred to in French) with the appropriate “power of attorney” or “procuration” in French documents. So while this certainly would have been a reason for delays in the past, it is really no longer the case for most notaires.
SILVER LINING - #2 FRENCH BANK ACCOUNTS!
Another point to clarify is that sometimes, American buyers believe that another big reason for the long delays is that they’ve seen outdated and just plain incorrect advice online saying that buyers need to have a French bank account in order to purchase French property! And that often in France, French banks require a proof of address in order to open a French bank account! Well, while that may have been the case many years ago, currently, this is no longer a requirement. Buyers do not need a French bank account in order to purchase French property! There are a variety of perfectly safe and secure ways of purchasing French property without the need to have a French bank account in place!
CONCLUSION
We could share pages and pages of real life examples of all of the above and certainly, a good notaire and a good real estate agent will help negotiated through those challenges. Of course, it’s always important for you as the buyer to educate yourself on these risks and potential delays! After all, it’s your money, your investment, your time!
There are plenty more reasons why the French purchase process can be surprisingly long. And importantly, why the ability of the buyer to accelerate that process can be quite limited! We’ve highlighted just a few here!
But really, the bottom line for most American buyers is that you should do your homework and get knowledgeable about this key difference between the French purchase process and the American purchase process.
And the reality is that as a whole, the French purchase process is certainly longer than would be in the USA and importantly, the specific timing is not always in the control of the buyer or seller. And more often than not, the process takes the time that it takes... Meaning that no amount of pushing or nudging or even pleading can make too much of a difference. And certainly it pays to be aware of the slower timeline that is typical in France and instead of being frustrated by it, embrace it as part of purchasing in another country with a different culture and a different way of doing things.
Want to get more knowledgeable about purchasing property in France? Then connect with us for expert advice and tips! Have specific questions? Let us know!
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