Buying property in France: the steps, deadlines and costs
A French purchase follows a precise legal sequence handled by a notary. Knowing the deadlines in advance avoids losing a property, or a deposit, because the financing arrives too late.
1. Budget before visiting
Add to the price the notary fees (mostly transfer duties): roughly 7 to 8% for an existing property, depending on the area, and around 2 to 3% for a new build. Add any works, the bank and guarantee fees, and borrower insurance. French banks cap the debt-to-income ratio at 35% including insurance.
2. Offer and purchase agreement
Once your offer is accepted, you sign a preliminary contract (compromis or promesse de vente), usually with a deposit of up to about 10% held by the notary.
- Cooling-off period: a private buyer of a home can withdraw within 10 days after receiving the signed agreement, without giving a reason.
- Mortgage contingency: if you borrow, the agreement must include a financing condition of at least one month. For an international file, negotiate a longer period (often 45 to 60 days).
3. Loan application and offer
The bank studies the file, then issues a written loan offer. You cannot accept it before 10 full days have passed after receiving it (reflection period). Compare offers on the APR (TAEG), insurance, guarantee and early-repayment terms.
4. Signing the deed
The final deed is signed before the notary, usually about two to three months after the purchase agreement. Funds go through the notary's escrow account. A power of attorney allows you to sign without travelling.
| Step | Legal deadline |
|---|---|
| Cooling-off after the purchase agreement | 10 days |
| Mortgage contingency | at least 1 month (negotiable) |
| Reflection period on the loan offer | 10 days before acceptance |
| Agreement to final deed | typically 2 to 3 months |
Questions
How much are notary fees in France?
Roughly 7 to 8% of the price for an existing property and around 2 to 3% for a new build. Most of it is transfer tax collected for the State and local authorities.
Can I sign without travelling to France?
Yes. The notary can prepare a power of attorney so that someone signs on your behalf; some steps can also be done remotely.
What happens if my mortgage is refused?
If the purchase agreement contains a mortgage contingency and the refusal falls within its terms, the deposit is returned to you.
Get a first review of your project
Describe your project, country of residence, income currency and deposit. You can write in English. A first review is free, does not commit you and is not a loan agreement: no rate is promised before a written bank offer.