Preliminary deeds for South France
property purchasing
Once you have chosen your south France property and the negotiation process is completed, the next stage is to set up a preliminary deed - this is basically a promise to purchase your Biarritz or Pyrenées property and is valid up to completion.
All properties for sale in south France that pass the negotiation stage require a preliminary deed. This helps to protect both the vendor and the purchaser against pulling out or trying to change the price.
We will request all your personal details in order to set up this deed. It will also include results of all the compulsory surveys (which are now more common in French property sales) such as:
- Presence of termites, asbestos and lead
- The condition of electrics and gas installation
- Susceptibility to natural or chemical disasters
- Energy consumption
We ensure that there are minimum conditions of sale at this stage.
At preliminary deed stage, you need to put down a 10% deposit on the south France property price, which is put into an agent or notary's secured-holding account. We will liaise with the lawyer on behalf of our clients and ensure everything is in place for completion. We can also act as proxy for the signing of documents, saving you both time and money.
It is law in France for you to be granted a seven day cooling–off period once the preliminary deed has been signed. You therefore have seven days to withdraw from the sale of the south France property and to be refunded your deposit.
For more information regarding preliminary deeds, Contact Us.
Find out more about completion here.