Compromis du vente

[Daley]

Hi

I have just had an offer for a house accepted in France and I now have to sign the compromis du vente.  I have two options: go in person(could be expensive) or have the notaire sign on my behalf(not sure of costs).  I have two questions, has anyone taken the latter option themselves and were you able to transfer the money by bank for the deposit?

Many thanks

Dale

[Will]

It is normal practice, if you are not going to be in the area, for the agent or notaire who compiles the document to send it to you by recorded post for signature. You sign it, return it by recorded post, and when all parties have signed you then receive your official copy of the document. You then have seven days from receipt of the signed compromis before it becomes completely legally binding on you, and your deposit should reach the notaire's account by the end of that seven day period. So you should have plenty of time to arrange a transfer through your bank or a currency broker. Most agents have a secure account for deposits, but it is recommended you send it straight to the notaire.

I think this option will be easier for you.

The final Acte de Vente is the one that you have to sign in person or arrange for a proxy (who can be one of the notaire's staff).

 

[Judie]

Can I add just a slight correction to Will's post.

The deposit usually needs to be with the Notaire ( or agent, if they accept deposits ) within 10 days after the end of the 7 day cooling off period. This period of time is not set in stone, but is advisable. [:)]

[Iceni]

We bought direct from the seller and informed him and the notaire that we did not intend to travel to France to sign the C de V. So it arrived and was returned by reg post - absolutely no probs. Cannot recall the details of how and when exactly we transferred the deposit.

Good luck.

John 

[Daley]

Many thanks, that has saved me a few hundred pounds [:D]

Dale

[woody234]

where in france have you brought dale

[Daley]

Hi

About 3km south of Beaune.

Cheers

Dale

[Madeira Jon]

Beaune Ahhhhhhhh.....fantastic wine!

[Pool Girl]

We're at exactly the same point, the CdeV has been sent by recorded delivery and we would have sent it back except we have decided on a very quick visit to triple check we can cope/afford the work that needs doing, so DH will hand the CdV to the agent tomorrow (as long as the house is as we last saw it with no leaky roof etc!), I've stayed at home and have done my initialing and signing as indicated.  The trip will cost £200 but worth it as we have only seen the house for an hour on a two day trip where we viewed 10!

We had been wondering about the timing of the deposit, so thanks for that information!

[anniefromwales]

Depending on how you are going to pay the deposit, don't leave it too late to set things in motion because if you have to transfer money quickly, it can work out a lot more expensive than if you have a more flexible timescale. After I had signed my compromis de vente I thought I had lots of time and didn't even think about sending the deposit for a week or so, then I looked into it and realised that for me, using a money tranfer company would be by far the best value option. By the time I had signed up and got it all organised I think my deposit got there the day before its due date.

[PaulT]

[quote user="anniefromwales"]Depending on how you are going to pay the deposit, don't leave it too late to set things in motion because if you have to transfer money quickly, it can work out a lot more expensive than if you have a more flexible timescale. After I had signed my compromis de vente I thought I had lots of time and didn't even think about sending the deposit for a week or so, then I looked into it and realised that for me, using a money tranfer company would be by far the best value option. By the time I had signed up and got it all organised I think my deposit got there the day before its due date.[/quote]

But you can sign up with any number of FX dealers before you even find the house you want.

When it comes to sending over the final amount, i.e. the big chunk, do haggle with them and do not take the rate that they offer.

Paul

[anniefromwales]

Indeed you can ... but in my case it was a bit of an impulse buy! came over in the campervan for an extended holiday with the intention of getting a feel for what my money might buy me and sussing out which part of France I might move to in a few years time, went back two months later with a signed compromis in my rucksack. It's worked for me but I can't believe I got away with it and would not recommend it.

[Daley]

Hi

I have now received the CdV in the post(normal post) from the Notaire.  I have to send it back normal post and he will send me the final version with both parties signatures by registered post.  I then have my seven days to withdraw.  I transferred the deposit last week from my German bank account.  For the final payment, I have my capital in sterling so I am using a FX company recommended by my mortgage broker to send the remaining monies to the notaire.   We are going over to Beaune for the final signing over of the house, as the house will be sold as seen.

Cheers

Dale

[PaulT]

[quote user="Daley"]

Hi

I have now received the CdV in the post(normal post) from the Notaire.  I have to send it back normal post and he will send me the final version with both parties signatures by registered post.  I then have my seven days to withdraw.  I transferred the deposit last week from my German bank account.  For the final payment, I have my capital in sterling so I am using a FX company recommended by my mortgage broker to send the remaining monies to the notaire.   We are going over to Beaune for the final signing over of the house, as the house will be sold as seen.

Cheers

Dale

[/quote]

If I were you I would send it back recorded.

I most certainly would not use an FX recommended by a mortgage borker. Indeed get them to give you a rate but use others. Is your mortgage broker impartial? If you were buying a TV would you go in to a shop that someone has told you to use or would you check prices and service etc from other shops? And remember, a small difference on a lot of money = a big difference in how much it will cost you in Sterling.

Paul

[Daley]

Hi

Is anyone impartial?  I have the removal company recommending a company, the mortgage broker, magazine articles.  Of course I will shop around and register with a few and see who gives me the best deal.

Thanks

Dale

[Will]

Just remember that the best deal is not necessarily the cheapest. When, as at present, even major banks are in trouble I would be wary about entrusting a lot of money to a private company that may not have a good financial backing or enjoy the same safeguards and controls as banks. Some exchange companies have been known to hang on to the funds until the last minute, if this looks like working in their favour, and this has been known to cause panic leading up to the signing date when the funds don't arrive in the notaire's account until signing day - and even, in some cases, causing signings to be delayed or rescheduled (with all the hassles of making new travel arrangements or fixing up a proxy). Do ask the company some pertinent questions.

I would say that following recommendations from other professionals, e.g. mortgage brokers or estate agents, is not a bad move; they know that the exchange company they recommend is likely to be safe and efficient.

 

[AnOther]

Unfortunately you've picked what is about the worst possible time to be buying € but I guess you don't need me to tell you that do you [:(]

Bon chance and all the best for your move.

[odile]

Pool girl - how brave you are! I just don't know how you have the courage to buy a house you've only seen for a few hours - among 10 others. do you know the area well, the neighbours, the climate, the geology? i don;t want to put a dampner, but I really can't understand the rush. IMO it would be so much better to spend a bit more money on another visit to the area and the house. It would be very little compared to, well, making a mistake, perhaps.

[OldyamYams]

Hi

We went over for a week with appointments to see 20 houses, the one we are waiting for the C O V to come through was I think no.12.

We got out of the car with the agent and knew straight away that this was the one for us.

I think it has a lot to do with how you feel when you first see 'the one'.

We have only seen this house for about 3 hours, so I say if you thinkit's right for you go for it.

Dave

[odile]

OldYamYams -  I really and sincerely hope you will be very happy. But I just don't understand how you can do that. Like you I really believe in the 'feel' of a house- but there is so much more to a house than just the house. As said before, the neighbours for instance. This and other forum are full of people who have to share their environment with neighbours from hell. And again schools, doctors, transport, etc. I think you are VERY very brave - and honestly wish you the best.

[OldyamYams]

Dear Odile Thanks for your best wishes.

I can't see how you can possibly know what the neighbours are like until you actually live there. I can't believe that the vendor is going to tell you that "The neighbours are terrible they are the neighbours from hell, the worst people you could ever meet". However in our case the farm house next door, which is empty and being renovated is owned by the family who sold the house to our vendors who assure us that they get on very well with them.

Malcolm and Carol the vendors have given a tremendous amount of help with things like, their English speaking Doctor, insurance agent,local tradesmen and details of expat groups etc. in the area.

So as far as it is possible to know the future we feel that we are making the right choice.As I said in my first post if you feel that this is it and it feels right, go for it!

After all   'Faint heart never won fair maiden'.

Regards

Dave

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[AnOther]

Moved post to other thread

http://www.completefrance.com/cs/forums/1475161/ShowPost.aspx