Rory Ramsden – Luxury French Property Finder & Buyer's Agent in south west France
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How secure is your investment if you buy real estate in France?

Though Paris real estate often sells very quickly, buyers typically have a number of weeks to change their minds about the purchase before their earnest money becomes firmly committed. It takes several weeks for the preliminary contract to be drawn up, and once the preliminary contract is signed a 10-day reflection period starts. The down payment is not firmly committed until the expiration of the reflection period.

Key Takeaways:

  • Though Paris real estate often sells very quickly, buyers typically have a number of weeks to change their minds about the purchase before their earnest money becomes firmly committed. It takes several weeks for the preliminary contract to be drawn up, and once the preliminary contract is signed a 10-day reflection period starts.
  • When it comes to older properties, a buyer usually agrees to the ‘as is’ condition of the property, like any vintage piece, and with no particular guarantees. However, French laws are increasingly more protective of the buyer. In the case of older properties, this translates to careful regulation of the amount of information one gets on the property.
  • The French Civil Code protects the buyer from hidden expenses, guaranteeing buyers a case against the seller where a property is found to have a defect after the sale. If the defect is known to the seller before the sale and included in the sales agreement, the buyer may not make a case against them.

“Though Paris real estate often sells very quickly, buyers typically have a number of weeks to change their minds about the purchase before their earnest money becomes firmly committed.”

http://parispropertygroup.com/blog/2016/secure-investment-buy-property-france/

About the Author Rory

Rory Ramsden is a French property finder and buyer's agent working for high net worth private clients wishing to buy a chateau, manor or vineyard in the south west of France. He has lived in France for 8 years after spending time travelling the world on business.

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