Individual Ownership : U.S. citizens/residents may purchase French real property in their individual names. If they do so, the French real property, as immovable property and under international private law rules, will be governed by French inheritance and tax laws.
Is it hard to buy property in France?
There are currently no restrictions on foreigners buying property in France, however, you may find the process a bit more difficult as a non-resident. This means quite a lot of paperwork and due diligence. If you’re working with a real estate agent, the process is likely to be relatively straightforward.
What are the steps to buying a property in France?
Step three in the property purchase process in France is the signing of a preliminary contract. This is a promise to sell and to purchase the property. This is drawn up by the notary once they receive the following paperwork from the seller:
Who is responsible for the sale of a property in France?
The sale agreement can be prepared by the agent or the parties’ legal advisor, not necessarily by a notaire.
How much tax do you pay when buying a house in France?
This includes the notary fee of 1% on the total price, the purchase tax of roughly 5.89% on the price and the admin costs. If a company is used to purchase the property, the buyer who signed the preliminary contract with their own name will substitute his/her company which means that the contract is free of any tax.
When to make an offer on a French property?
When you have found your french property it’s important to make an offer to the agent as soon as you can. The agent can then communicate with the vendor on your behalf and hopefully agree the price before you leave. Making an offer secures the property at the agreed price but no money exchanges hands at this time and nothing needs to be signed.
