Dan Chase Posted August 4, 2011 Share Posted August 4, 2011 Hi All,Were off en vacance to the sunny south next week and have spotted a property we are rather keen on buying and have arranged a viewing. If we like the property and decide to go for it, assuming our offer is excepted, whats the time-line for signing the compromis de vente and paying the 10% deposit?Thinking that we may well be in France for a good 10 days after viewing I have spoken to my bank and they can arrange a bank transfer over the phone, but I`d probably rather sort that bit out once back in the UK.Also, bank can only offer current exchange of 1.08. Anyone reccommend one of those exchange companies for a better rate?Thanks, Dan. Link to comment Share on other sites More sharing options...
EuroTrash Posted August 4, 2011 Share Posted August 4, 2011 How soon you can sign the compromis depends entirely on how quickly the notaire can be persuaded to prepare the documentation. When I bought, the paperwork was ready in about a fortnight but that was with the seller pushing hard. You don't need to pay the deposit at the same time as the compromis is signed but it has to be received by the notaire withn a short period (2 weeks??) otherwise in theory the compromise is void. Link to comment Share on other sites More sharing options...
andyh4 Posted August 4, 2011 Share Posted August 4, 2011 ..................and it's August so do not expect the notaire to do anything at all. Link to comment Share on other sites More sharing options...
Pommier Posted August 4, 2011 Share Posted August 4, 2011 If you're viewing with an agent he'll probably do the compromis himself, so it'll happen very quickly. Link to comment Share on other sites More sharing options...
NormanH Posted August 4, 2011 Share Posted August 4, 2011 The 10% is pretty negotiable.I just sold a property and the agent accepted a ridiculously low figure as a deposit (500 Euros which obviously didn't represent anything like 10% even on one of my 'barrels') without even checking with meYou can always try: the market is not that buoyant at the moment... Link to comment Share on other sites More sharing options...
mint Posted August 4, 2011 Share Posted August 4, 2011 [quote user="andyh4"]..................and it's August so do not expect the notaire to do anything at all.[/quote]No, andy, there are always exceptions to the rule. Signed for final Acte Authentique for our first house on 15 August. But the notaire did seem more than half asleeep.And the compromis for the present house was ready from viewing to the signing date in just under 10 days.Depends how keen the seller, agent, etc are. Link to comment Share on other sites More sharing options...
Mr Ice-ni Posted August 4, 2011 Share Posted August 4, 2011 So tell all, where is this $100 property?John Link to comment Share on other sites More sharing options...
Dan Chase Posted August 5, 2011 Author Share Posted August 5, 2011 Darn it, 10% not 10$!!!!!!!!!!!!!!!!!!!!!!!!!!! just hit the wrong key - so much to do and so little time..... Link to comment Share on other sites More sharing options...
Pads Posted August 5, 2011 Share Posted August 5, 2011 there you go...you do sound like your chasing your tail .... ;) you should be getting a much better rate at the mo than 1.08 google the exchange companies and talk to a few Link to comment Share on other sites More sharing options...
Will Posted August 5, 2011 Share Posted August 5, 2011 To answer your question, the deposit should be with the notaire before the end of the so-called 'cooling off period' after signing the initial contract (compromis de vente). Some agents may offer to hold the deposit, but most prefer not to, and it's safer to send it to the notaire. If you do give it to the agent, make sure you get a proper receipt. Link to comment Share on other sites More sharing options...
Sprogster Posted August 5, 2011 Share Posted August 5, 2011 The deposit is due to the Notaire at the end of the seven day cooling off period. I paid mine a few days earlier and caused some amusement in the process, as apparently this was unheard of according to the Notaires office involved!The timing all comes down to the efficiency of the Notaire and if the purchaser and vendor uses their own respective Notaire it can take even longer. Link to comment Share on other sites More sharing options...
PaulT Posted August 16, 2011 Share Posted August 16, 2011 For the foreign exchange register with a number of FX dealers and play them off one against another.When we bought I phoned around and also registered with one that shows the rates on line. The on-line one was showing the best rates. Phoned one FX company and they quoted me a figure and asked how that was. "Rubbish" I told them and quoted the on-line rate. Was asked if I was just investigating and told them that I would buy that day at the right price. "Hold the line a minute" and a little while later he came back with a rate that was far superior to the on-line rate. He told me and I do not know if it is true, assume it is not, that they can sometimes tag on to a far larger deal and hence get a superior rate. Did the deed and was very happy with the rate.Paul Link to comment Share on other sites More sharing options...
Bordering Posted September 16, 2011 Share Posted September 16, 2011 The deposit isn't 'set in stone'. I wasn't asked for one at all. Once you've signed the compromis you're legally obliged to complete and there's no getting out of it (except perhaps by buying your way out). If you're worth suing, they'd probably do it if necessary. Link to comment Share on other sites More sharing options...
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