Jump to content

Acte Authentique de Vente


Recommended Posts

Can anybody tell me how long we should expect to wait until we receive the Deed of Sale. We sent our 10% back in June and have not heard anything since, although we have sent several e-mails. (We are buying an old farmhouse and have be told that this will take longer than purchasing a house because other farmers have to be offered the land, though, why the old farmer does not do this before he puts the house on sale, I do not know). Also:

(1) When we receive this document how much time are we allowed to have the same checked over by our solicitor.
(2) Can we set a date for final completion, or is it by mutal agreement .
(3) The sale price includes Notaires/Agent fees but what about land registery fees, how much should we expect to pay on a property and how is it arrived at?

Anything else we should know about?

Thanks

Gemma1

Link to comment
Share on other sites

The way the French system works is that areas of land over 2500m2 have to be offered to SAFER (an agricultural organisation) and this is done when an offer to buy is received, rather than when a property is first offered for sale.

For a normal property sale, the time taken is variable but on average about three months between signing the compromis and the final acte de vente. As you say, for larger agricultural properties, it can add a month or two.

Once the compromis is signed, the sale is legally binding, so the time to check the conditions is before this, otherwise you lose the deposit if you pull out - unless you make the sale subject to conditions, like you obtaining finance. planning permission etc.

If notaire's fees are included, this should cover all legal fees. Notaires are lawyers acting for the government rather than solicitors for the individual parties. Otherwise you should budget about 10%-12% of the purchase price to cover land fees, the French equivalent of stamp duty etc.

Hope this helps







Bill



http://www.letheil.com
Link to comment
Share on other sites

>Can anybody tell me how long
>we should expect to wait
>until we receive the Deed
>of Sale.

This does not exist as such in France. The 10% deposit is paid at the time of signing a compromis or promise of sale. This is a legally binding document and as such should contain any "get out" clauses or other items that are important (if the sale includes extra items like carpets, for example).

>We sent our
>10% back in June and
>have not heard anything since,
>although we have sent several
>e-mails. (We are buying an
>old farmhouse and have be
>told that this will take
>longer than purchasing a house
>because other farmers have to
>be offered the land, though,
>why the old farmer does
>not do this before he
>puts the house on
>sale, I do not know).

He can't. This "offer" must go via the SAFER at the time of sale and they invariably take two calendar months to do anything.

It is common to stipulate a date for final signing in the compromis however.



> Also:
>
>(1) When we receive this document
>how much time are we
>allowed to have the same
>checked over by our solicitor.

None, unless you have thought of this beforehand. The final contract of sale will be presented to you on the day of sale, when you will be expected to pay. At that time it is quite common for the contract to be re-written several times to account for minor changes.

>(2) Can we set a date
>for final completion, or is
>it by mutal agreement .

Any final date should have figured in the compromis to be binding. If there was nothing in the compromis then you must agree something with the vendor.

>(3) The sale price includes Notaires/Agent
>fees but what about land
>registery fees,

In that case, as Bill said, you should have no more to pay. This is an unusual pricing arrangement however.
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...