initial costs

Whether you are buying for cash or with a mortgage there are some costs you are going to have to fund yourself.

The Deposit

As your agreement to the purchase - On the day you sign the Compromis de vente (the sales agreement contract) you will be required to pay your deposit, usually 10 percent of the purchase price for older properties (less for new properties under construction). For properties over 750 000€ a 5% deposit is sufficient. It is advisable to pay your deposit cheque to the notaire or agent who is representing you and never to the vendor. The deposit is held by the notaire/agent until completion.

Notaire

For an existing property, be prepared for 6-7 percent of the purchase price as the cost for the legal fees and land property/registration fees. For a new build property ( a property bought off plan), assume 3 percent of the purchase price. Fees vary slightly from region to region. You can choose your own notaire, or use the same notaire as the vendor - whichever you choose, the cost will be the same. Notaire fees can only be included in the mortgage for French tax payers. If you pay tax in another country, you will have to fund the notaire fees yourself.

Agency Fees

An amount between 5% and 10% may be charged by some agents but our agents tend to charge 5% and will negotiate to make sure a sale does not fall through. There is no hard and fast rule on whether it is the vendor or the buyer who pays the agents fees. If you are raising a mortgage you can include these fees in the mortgage if the agency fees are stated in the Compromis de vente.