Purchasing a property in France is an exciting and potentially lucrative investment opportunity. The French property market can be quite different to markets elsewhere, and therefore the process of making an offer also comes with its own considerations and challenges. In this article, we’ll provide you with some key information on how to make an offer on a property in France, making sure you don’t overpay for the property and that you avoid unnecessary mistakes along the way.
Before going ahead with making an offer, there are a few steps that you need to have taken. We have written about these in previous articles. These include:
Determining your borrowing capacity and researching your loan options.
Evaluating where in France you wish to purchase based on your individual needs and preferences.
Once you’ve successfully considered and completed the above tasks, you’re ready to start the process of making an offer on a property that you’d like to pursue. Obviously, you do not want to over-pay for the property, nor do you want to go too low, as this could cause you to miss out or not be taken seriously. It’s therefore crucial to determining the appropriate offer amount. For this reason, we always suggest that you are represented by a buyer’s agent such as one of our partners, Milieux Property, or another real estate professional. They have the tools and techniques to calculate what a property is truly worth.
To make an offer officially, we always recommend doing this in writing. Make sure you include the purchase price plus any conditional clauses (eg subject to finance).
A key point that differs between France and the UK is that in France, it’s not possible to make your offer subject to the sale of another property. This, among other reasons, is why making an offer is something that must be taken seriously, as it is legally binding and difficult to exit from once it has been executed.
Importantly, there is a 10-day cooling-off period in which the buyer can walk away without penalty. Additionally, if one or more of the conditional clauses are not met (eg finance is not approved), the buyer may also exit the purchase without any penalty.
Discover our future articles where we look at the steps that follow making an offer.
Conclusion:
Making an offer on a property in France requires careful research, preparation, and engagement with professionals. It’s not the time for making any unforced errors or mistakes. With a great deal of money at stake, we highly recommend engaging a buyer’s agent such as our partner, Milieux Property, or other real estate professionals to guide you through this complicated yet exciting process.
While you’re here, check out some of our other blog posts:
Trusted Partners of Buy Property in France:
If you need assistance with purchasing a property in France, we suggest the team at Milieux Property. They are international buyer’s agents who specialise in buying property in France for English speakers.