Finally signing the Compromis on Tuesday (via the Power of Attorney given to the Notaire). Eeeeeek . What’s everyone’s experience about the time you’ve waited between then and completing/getting the keys? And what does the Notaire have to do during that period that may cause further delay? Thank you.
About 3 months seems to be average. More if other agencies are involved (like SAFER if any agricultural issues), or you are relying on finance. The notaire basically does a similar set of admin jobs as in the UK - so a search on planning matters, rights of way, checking the cadastral plan is in accordance, making sure the selllers have done all the technical checks, checking your and sellers status, and so on. There needs to be clarity on what is being sold, and whether includes and furniture.
I’ve heard people say they’ve managed it more quickly, but the three properties we’ve bought or sold in France have all taken 3 months.
Thank you. That’s very helpful. The property is empty, the reports have already been done by the seller and we’re cash buyers.
Mine was empty Carol, I asked if I could have a key to start jobs that needed doing, the vendors kindly agreed to let me have one immediately.
Hi Bill. Was that once you signed the Compromis but before you completed?
Yes after I signed, but I was surprised by never having to pay a deposit.
We waited 2 months for completion. A little hiccup on the day because the notaire said he had not received our money although we had sent it 10 days before. Turned out that our agent at the money exchange had been on holiday and the staff member who transferred the money did it in the English way with forenames first rather than surname first. The French receptionist not finding our surname immediately didn’t look any further and the notaire found the money himself next morning. Why she didn’t look for the amount and then try and match it to our name is beyond me. I woke at about 4 in the morning with the sudden realisation of what had happened. The thought of all that money being lost somewhere was quite worrying.
We’re not paying a deposit either Bill, but the purchase price is only 18000 euros.
Blimey Teresa! That would be my worst nightmare too. We’ve set up a Britline Credit Agricole account so the money is sitting there just waiting … and waiting … and waiting lol.
Yes for our old ‘cowshed’, it was only 22k €, but, after a ‘bit’ of work, it’s made a great home for us
The compromis should give you an “at the latest” date which is likely to be around 10-12 weeks afterwards. Our date for finalising had to be put back a few days as there seems to be a timeframe for SAFER to complete their checks.
You can still withdraw from the Purchase under certain conditions… and this is one good reason why the keys are normally not handed over until the actual Sale/Purchase Act is signed… and, of course, there is the Insurance aspect…amongst other things…
The Compromis will give a time-scale and your Notaire will be pleased to answer all your questions.
Take a look at this… it explains what the Notaire will be doing in between the “promise to buy/sell” and the final Act itself.
No harm in asking the notaire, or owners if you know them for a key Carol.
A deposit isn’t obligatory Bill and it doesn’t actually serve any great purpose. I’ve just sold my place (compromis this friday) and no deposit asked for and the place i’m buying in Albi will have no deposit either
That’s what I understood Pete, but a was a bit surprised.
Great game yesterday, exciting finish!