Buying your first property in Paris is exciting — and daunting. Between the compromis de vente, the notary fees, and the mountain of diagnostics, it's easy to feel overwhelmed. Here's a practical legal checklist to guide you through the process.
Before You Sign
1. Get Pre-Approved for Financing
French banks typically require a plan de financement before issuing a formal loan offer. Know your budget before you start visiting properties. The standard borrowing limit is 35% of your net monthly income.
2. Understand the Fees
Budget for approximately 7-8% of the purchase price in notary fees and taxes for older properties (2-3% for new builds). This is on top of any agency fees, which are usually borne by the buyer.
3. Review the Co-Ownership Rules
If you're buying an apartment, request the règlement de copropriété and the minutes of the last three general assemblies. These documents reveal planned works, ongoing disputes, and financial health of the building.
The Compromis de Vente
This preliminary contract is binding. Once signed, you have a 10-day cooling-off period (délai de rétractation) during which you can withdraw without penalty. After that, pulling out will cost you the deposit — typically 5-10% of the price.
Key conditions to include:
- Financing condition (condition suspensive de prêt)
- Satisfactory results from mandatory diagnostics
- No pre-emption by the municipality
Closing the Sale
The final act of sale (acte authentique) is signed before a notary, usually 2 to 3 months after the compromis. The notary handles the transfer of funds, registration, and tax payments. You receive your keys on signing day.
Planning to buy? Our real estate team reviews purchase agreements and advises buyers at every stage. Book a consultation to make sure your investment is legally sound.