While there are no limits to the purchase of property by foreigners in France, there are definitely a few things to keep in mind and watch out for. As in any country, you can come across a seller or real estate agent with not entirely good intentions, and you could end up in a bad situation.
Language knowledge
If you don’t know a very good French language, you should hire a freelance translator. Knowledge of the language at the basic level can be as disastrous for you as the complete lack of it, which in such cases will make an interpreter necessary — both for contracts and oral transmissions.
Legal issues
Usually, real estate purchase cases in France do not require hiring a lawyer, so it is also suggested that you deepen your knowledge of the legal issues of such a transaction yourself, as you will mostly rely on your own knowledge and the words of a real estate agent, whom you will not always be able to trust.
The question of money is also a very important issue. Taxes and all kinds of additional fees are not included in the prices of French real estate, so there is a high risk that despite the “perfect” price, the money may simply not be enough. You should keep a close eye on your budget and find out as soon as possible how much you will have to pay extra for your four walls.
Will you need a French notary?
For your own safety, it is also very good to hire your own notary to monitor every step of your transaction. It will be a very bad idea to sign anything without the presence of a notary or a third party knowledgeable in sales transactions, due to both your own limited knowledge in this field and limited understanding of the language in which such a contract would be concluded.
Information – a lot of information
You should also require all possible information from the seller, not only about the building we are buying, but also about everything around it — what part of the square around the building will belong to us? Are fences and walls also our property? Have there been or are any disputes over any part of this property in this area? Ask the seller carefully about every little detail, and consider any doubts you have as soon as possible. For any transaction and legal doubts, also contact the notary you hired.
When it comes to buying real estate, you should be careful and ask carefully about everything to be sure what exactly goes into your property. It is very good to find out about everything related to this type of transaction, even before starting the search for your dream home — maybe knowing what to avoid and what such a process looks like will save us from an uninteresting legal and financial situation after signing all contracts.
