Buying a house in any country is a complicated business and it is even more difficult when the entire transaction has to be completed in a language other than your own.
In France the key person in a property transaction is the notary. Both the buyer and the seller will have their own notaries and he or she is responsible for checking title deeds, planning requirements and all other documents relating to the purchase.
How long the entire business will take partially depends on the size of the property. If it is on more than 2.5 acres then the notary will have to inform SAFER, a department attached to the Ministry of Agriculture. It checks if any local person wishes to buy the land for farming purposes. This can delay the entire process by two months.
For properties under that acreage the transaction should take a minimum of six weeks.
A 10 per cent deposit is required subject to completion of the sale. All documents will be in French and it is at this stage that you must be absolutely sure that you know what you are signing - so either make sure that you chose a notary that is bilingual or that you have the documents translated elsewhere.
As with an Irish property transaction, the documents could contain clauses relating to engineer's reports or mortgage availability.
Giving power of attorney to your notary means that you don't have to be in France for the sale to go through - he or she can sign the papers on your behalf.
Fees to the notary should come to 7 per cent of the purchase price of the property and this includes stamp duty, etc.
The increase in the number of Irish people buying in France has led to the start up of several Irish-based agencies offering a range of services. For example in France a Dublin-based company will do everything from finding a property in a specific region for a client right through to co-ordinating the signing of the final deeds.
According to Ms Somalina Nguoun of in-France the process of buying in France is relatively simple once you understand the procedure. Legal documents bamboozle people at the best of times but she says the real problems arise when people sign documents they do not fully understand.
If the property in France is bought as a rental investment a tax declaration will be issued in France and tax must be paid on rental income in Ireland.
