Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
How is a real estate purchased completed in France? Do I need to be in France for the final signing?
Prior to the signing of the final purchase agreement, the notaire will send the buyer a completion statement showing the balance of the purchase price and all other fees and taxes required to complete the purchase. The buyer will need to get those funds into the escrow account of the notaire in time for the date fixed for the signing of the deed of sale, the acte de vente.
The buyer can either be physically present to sign the acte de vente, or arrangements can be made for a Power of Attorney to enable another person to sign on the buyer’s behalf.
When the acte de vente has been signed, the notaire distributes the funds to the respective parties: the purchase price to the seller, the taxes to the state, fees and charges owed to the building management, commissions to the real estate brokers, and keeps the amount of his own fee.
Have a question you want answered about this topic? Ask Miranda.
Contact Paris Property Group to learn more about buying or selling property in Paris.