Milieux Property helps expats and international buyers purchase, redesign, and renovate properties in France.
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Purchasing property in France is an exciting and potentially lucrative investment opportunity. It can also be quite daunting, especially if you don’t speak French. It’s therefore important to understand that the French property market can be quite different to markets elsewhere, and therefore the process of making an offer also comes with its own challenges and considerations. In this blog post, we’ll provide you with everything you need to know on how to make an offer on a property in France, ensuring a smooth and successful transaction whilst at the same time not overpaying for your property.
Before being ready to make an offer, there are a series of steps that you should take, which have been covered in our previous blogs. These include:
Evaluating your loan options and borrowing capacity.
Researching where in France is best for you.
Conducting market research, performing due diligence and going to visit your preferred properties.
Once you have successfully completed the above tasks and have a property that you’d like to pursue, you’re ready to start the process of making an offer. Determining the offer amount is critical, as you do not want to over-pay for the property, nor do you want to go so low that you miss out or are not taken seriously. This is one of the major reasons why we always suggest that you are represented by a buyer’s agent such as Milieux Property or another real estate professional. We have the tools and techniques to calculate what a property is truly worth.
To officially make an offer, it is always suggested to do so in writing, ensuring that the purchase price and any conditional clauses are included (eg subject to finance). It’s also important to note that in France, it is not possible to make a purchase subject to the successful sale of another property, as it is in the UK.
It is for this reason that making an offer is not something that is taken lightly, as it is legally binding and difficult to walk away from once it has been executed.
There are a few exceptions to this, notably there is a 10-day cooling-off period in which the buyer can walk away without penalty. Furthermore, if one or more of the conditional clauses are not met (eg finance is not approved), the buyer is, again, permitted to walk away without penalty.
Stay tuned for future blogs where we explore the steps that occur after an offer is made.
Making an offer on a property in France requires careful research, preparation, and engagement with professionals. With so much at stake, we highly recommend engaging a buyer’s agent such as Milieux Property or other real estate professional to work on your behalf and ensure your interests are served throughout the entire process.
Contact us any time at info@milieuxproperty.com for more information or to start your property journey in France.
While you’re here, check out some of our other blog posts:
Milieux Property helps expats and international buyers purchase, redesign, and renovate properties in France.