Milieux Property helps expats and international buyers purchase, redesign, and renovate properties in France.
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If you’ve come across this blog, it’s likely you’re looking to move to France or interested in purchasing a holiday home in France. The great news is, foreigners can purchase properties in France without much hassle, so we’ve put together this step-by-step guide on how to buy property in France as an international buyer.
Later, we will go through each step in more detail so you have a fully comprehensive guide on exactly what you’re in for with your purchase.
Step 1: Finding out about your loan options is the first step you should take when you’re looking into buying property in France as a foreigner. Milieux Property will work with you to determine your budget and put you in touch with an English speaking mortgage broker so you can get pre-approved for a loan as early as possible. To find out more about this process, read our blog on how to borrow in France as a non-resident.
Step 2: Start researching where you might want to live in France and what kind of property you’d want to live in. If you aren’t sure what area or what kind of property would best suit you, we have a client requirement document which helps us find the most suitable area for you (close to international and private schools, close the beach, close to Paris etc). You can also read our blog on the best places to have a holiday house in France to help give you an idea of what area might be best.
Step 3: If you now have an idea of what area you’re interested in buying a property, you may want to continue doing your own research into the buying process, or you may prefer to engage our services at this early stage. We assist clients at most stages of their journey. See our services to see what suits you and your situation.
Step 4: If Milieux Property will be doing some or all of the research for you, ensure you provide us with detailed search criteria so we can conduct a thorough search for you. From here, we will do all the running around for you, such as going to inspections on your behalf and meeting with contractors and service providers. We video call clients during this process and provide our professional opinion on the positives and negatives of the properties you are interested in, and summarise everything in a written report.
Step 5: Once you’ve decided on your favorite property, the next step is to make an offer. We are able to do this for you, and will negotiate the sale on your behalf to get the best price possible and to ensure nothing is overlooked or misunderstood.
Step 6: Once a purchase price has been agreed on, you will sign a Compromis de Vente (first contract) which is a conditional agreement to buy the property. Different conditions can be added to this contract, such as having finances approved and property surveys not showing any major issues with the property. The agreement is signed by both buyer and seller, and is a legally binding agreement. If any of the conditional clauses are not met, the contract may be broken without penalty.
Step 7: The next step is to do your due diligence. This is something Milieux Property and your notaire will take care of for you. This step includes seeing the plans for the property and land, including whether there are any private or public plans to build other properties close to your property, and whether you have permission to rebuild or renovate the property. Milieux Property will order a dossier diagnostic technique on your property, which is a legally required report given to potential buyers outlining any potential issues with the property (eg if the roof needs replacing, the condition of the foundations etc), and this will help you make a decision on whether you will go ahead with the purchase.
Step 8: You’re making your final decision on whether to go ahead with the purchase so now you need to decide what name you’re buying the property in. Some clients simply purchase the property in their own name, but for tax and inheritance purposes, some choose to buy the property in a company structure, known as Société Civile Immobilière (SCI). This is an in depth process and can become complicated, we therefore organise an asset management consultant to advise our clients on what is best for them.
Step 9: You have agreed to purchase the property, we have given you the green light, the bank has approved your loan and your notaire has approved everything. It’s time to pay for your property before signing the Acte Authentique (Acte de Vente) – this is the full contract for your purchase. You should be present for this signing if possible, however if you are unable to attend, Milieux Property can act as your power of attorney and sign on your behalf.
Once these final steps are complete, the property is yours! Congratulations!
Contact us any time at info@milieuxproperty.com for more information or to start your property journey in France.
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Milieux Property helps expats and international buyers purchase, redesign, and renovate properties in France.