No. In many respects, it is probably easier.

For the uninitiated, the very notion of buying a property in France conjures up visions of shady real estate agents, unseemly haggling over prices with prideful Frenchmen, and impenetrably arcane procedures cobwebbed over by obscure laws dating from Napoleonic times. All this is compounded by the fact the people who are perpetrating these horrors are speaking - French!

Fortunately all these problems are relics of the past, or to the extent that they still exist can be overcome by dealing with a reliable property acquisition company like JUST FRANCE Sales. Thanks to the Notaire system, government regulation of closing costs, reliability of sales deeds and the ability of JUST FRANCE Sales to provide English-speaking professionals at key stages of the acquisition process, buying a property in France is generally less complicated and nerve-wracking than a similar transaction in Great Britain or North America.

Of course it is helpful to speak French and to be familiar with certain French terms that you will see frequently in the sales process. But with the help of our bilingual staff you can buy a property in France without fear of making a serious mistake or being taken advantage of even if you do not speak the language.

The key figure in the legal process of buying a property in France is the Notaire. JUST FRANCE Sales can arrange for you to work with a Notaire who is fluent in English and experienced in handling real estate transactions involving overseas buyers. The Notaire will provide English translations of all relevant provisions of the sales agreement for your review. While your enjoyment of your property in France will be greatly enhanced by learning the language, one French word is all you really need to know, and that is merci when you sign the final documents and are given the keys.

Yes, to purchase a property you must have an account with a French bank, optimally with a bank that can accept and convert currency from other countries. The account should be a normal checking account so that you can arrange for automatic withdrawals to pay recurring charges like utility bills and mortgage payments.

No, it is not difficult to open a French bank account. The whole process takes only a few minutes. The account may be opened by presenting proof of identity and residence (generally a passport and a couple utility bills will do), and signing a few documents, including a signature card. JUST FRANCE Salescan advise you on which banks we think are most user-friendly to overseas clients.

No. The only time you need to be physically present is at final settlement. And if you can't attend final settlement you can give your notaire (or a friend) power of attorney, to act on your behalf.

The only documents that need the buyer's signature are the compromis de vente (agreement of sale) and the documents presented by the Notaire for signature at final closing. (Of course if you are financing the purchase your lending bank will have documents that require the borrower's signature.) A Notaire can send you a compromis de vente and you may return it by international courier. Thus the only time you actually need to be in France is when you are inspecting properties. After you return to your home country JUST FRANCE Sales' bilingual staff can help you negotiate a final purchase price, either by communicating with your Notaire or directly with the seller.

JUST FRANCE Salescollaborates with certain real estate agencies (agences immobilières) in France that in our view are serious companies offering a high level of professional services. These agencies, which are accustomed to working with English-speaking clients, are concentrated principally in Paris, Provence, the Côte d'Azur, Southwest France, the Loire and Burgundy.

A substantial percentage of our properties are offered by private owners, many of whom we have come to know through JUST FRANCE, an internationally known property rental agency and the original parent company of JUST FRANCE Sales. Thus it is not surprising that JUST FRANCE Sales is often the first to know - well before local real estate agencies - that a property is coming on the market for sale. Generally, the private sale is eventually consummated with the help of a local French agency at no extra cost to the buyer.

Compromis de vente, the agreement of sale and the principal document in the sales process.

Notaire, the French lawyer, trained specifically in French real property law, who prepares the compromis de vente and all other documents, including the final sales deed, relating to the transfer of real property in France.

If you plan to finance your purchase, a third word:

Prêt immobilier, mortgage.

Yes. There are licensed construction engineers and appraisers in France who will perform expert appraisals and building inspections and issue a written report. Fees for this service generally run in the 750-1,500 € range. An independent appraisal or engineer's inspection is a fairly common practice in France, and is especially advisable for older properties.

Yes. There is a seven-day cooling-off period that begins the day after both parties have signed the compromis, and terminates seven calendar days later. During the cooling-off period the buyer can rescind and receive a full refund.

You may fund your French bank account with an international wire transfer from your home bank, and the French bank in turn may wire funds to the Notaire on your behalf. Or you may direct your bank in your home country to wire funds directly to the Notaire.



If you obtain a mortgage, the lending bank transfer these funds directly to the Notaire.

No. But you should retain your own Notaire, as you are permitted to do by law. The good news is that it costs nothing more to have your own Notaire represent your interests. The fees due to the buyer's Notaire are included in the closing costs.

Fees to JUST FRANCE Salesare included in all prices quoted for properties we represent. There are no extra charges apart from fees for special services that lie outside the normal acquisition process.

This website has a direct link for current conversion rates from the € to major currencies. You may also find currency rates daily in major newspapers such as The Wall Street Journal, The New York Times and Financial Times.

For the US dollar, the euro is quoted in terms of how many dollars it costs to buy one euro. Thus a rate of 1.35 means it cost $1,350 to buy 1 €, or $1,350 to buy 1,000 €.

Likewise for the British pound: If the pound rate is quoted at .6950 to the euro, this means it will cost .6950 pence to buy one euro, or £ 695 to buy 1,000 €.

Bear in mind these are official rates that are available only to banks. Rates for consumers are slightly higher - e.g., where the banker's rate is 1.35, the consumer will pay around $1,360. The rate may be considerably higher if you deal with a local bank that is unaccustomed to doing foreign currency transactions .

Ten percent.

Closing costs - the fees to be paid at final settlement to take possession of the property - run about 6.25 to 8 % of the purchase price on properties more than five years old. Closing costs include everything you will need to pay to take ownership of the property - Notaire fees, administrative and filing costs, transfer taxes, etc.

Obviously closing costs do not include (a) the 90 percent balance of the purchase price which must be also be tendered at settlement, and (b) a loan acquisition fee if you are financing part of the purchase.

Closing costs on a property less than five years old are about 2.5 to 4 % of the property price.

No. Property taxes in France are generally lower - in some cases considerably so - than those paid by property owners in the United States.

By way of example, annual taxes (including property taxes and a local inhabitant's tax) on a property valued at € 600,000 in Provence in the département of Vaucluse are around 1,600 € annually. Taxes will vary according to the local jurisdiction.

No. Take, for example, the cost of a homeowner's insurance policy on a 300 m2 (3,200 sq. ft.) house in Provence with a pool that is worth € 700,000 and has contents insured for 100,000 €. The annual premium is around 900 €. The premium for an apartment of 100 m2 (1,075 sq. ft.) in the 7th arrondissement of Paris with contents insured for 50,000 € is 1200 €.

No, it is not hard to obtain a mortgage. Bear in mind that as most lenders will require life insurance on the loan, older buyers may have to meet certain medical requirements and may have slightly higher payments.

As in any country, a French bank wants to see documentation of the buyer's credit-worthiness. Click here for details on how JUST FRANCE Sales can assist in the mortgage application process.

Yes, the loan must be from a French bank. A strategy overseas buyers can use to avoid applying for a mortgage with a French bank is to take a second mortgage on an existing property in the buyer's home country, and then use the proceeds to pay cash for the French property.

Interest rates are currently around 4.5-5.25 percent on a fixed-rate loan. This rate does not include the cost of life insurance on the loan.

The minimum down payment will vary according to your credit-worthiness. It can be as low as 10 percent, and as high as 50 percent. Generally French banks are stricter with overseas borrowers, requiring a higher percentage down payment and a shorter payoff period than they might grant to a French borrower. The average buyer can count on a down payment of at least 20 percent.

Yes, a mortgage contingency clause is a common feature of the compromis de vente.

You can arrange for the lending bank to make automatic monthly withdrawals from your bank account. The lending bank and the French bank where you have your checking account may or may not be the same institution.

Generally a buyer has 45 calendar days from the signing of the compromis de vente in which to obtain mortgage commitment from a lender. A buyer can try to negotiate a longer period, but few sellers will be interested in granting an extension unless there are extenuating circumstances.

If your mortgage application is not approved within the agreed-upon period, your deposit (generally 10%) is refunded and the sale is voided. Of course this assumes that you have a mortgage contingency clause (clause suspensive) written into the compromis.

As part of its post-acquisition services JUST FRANCE SALES can advise you on how to furnish, equip and decorate your property in order to maximize its rental potential. We can also advise you on how best to market the property for rentals, whether through rental companies, your own web page or print advertisements. We have a close working relationship with JUST FRANCE, a highly respected international property rental company and the original parent company of JUST FRANCE Sales. In addition to JUST FRANCE we can suggest other established agencies whose portfolios are appropriate for your particular kind of property.

Yes, and the premium costs are not unreasonable.

The answer to that question depends on a multitude of factors too lengthy to detail here. Among the most critical factors are location, the number of bedrooms and bathrooms, size of the living space and quality of the decor and amenities.

For Paris apartments, other critical factors will be floor, whether the building has an elevator, proximity to metro station and wether it gets lots of light. For country properties, factors are the size, privacy and quietness of the terrain, swimming pool, view and absence of nuisances.

For more detail, see our discussion of Property Values in France.

Where the property is situated in France (for example, Paris versus a remote village in Languedoc) will have a significant influence on its rentability. Assuming the property is in an area that traditionally attracts a rental clientele, the one rule of thumb JUST FRANCE has discovered over more than a decade of renting properties in France is:

In general, the greater the investment an owner makes in a property to increase its comforts, visual appeal, charm and modern conveniences, the greater will be the percentage return on investment, the quality of rental guests and ease of renting and maintaining the property.