Issue No. 13

t and agent
The signing is followed by a 10 day
“Cooling Off” period. This period starts at
midnight on the first day after the signing
(unless that is a Sunday) and includes
weekends and Bank holidays. During this
time the buyer can withdraw from the sale
without loss of the deposit.
Notice of withdrawal must be made in
writing and sent by recorded delivery to
either the notaire or the agency depending
on who drew up the compromis. This is a
rare occurrence.
2. THE ACTE DE VENTE
This is it! The big day!
All parties meet in the Notaire's office. The
balance of the money must have been
transferred to the Notaire account 48 hours
beforehand so all will go according to plan.
You will need to supply an “Attestation
d'Origine des Fonds” to comply with
French anti-money laundering laws and
this can be obtained from your bank or
currency provider (it doesn’t matter which
country they ‘re based in – they will all be
able to do this).
The Notaire will read through the Acte de
Vente adding in the results of his searches
made during the delay after the compromis
and the names of previous owners – the
paper trail that makes buying property in
France so safe. The Acte itself is in two
parts; the first is a confirmation of the
parties and property while the second is the
“Annexes” or standard clauses. Until
recently, at this stage the paper shuffling
started with all parties signing or initialling
every page as required. Most Notaires
these days use an “electronic signature”
with a computer screen and electronic pad
that is signed twice by each person and the
results electronically printed on to the
document in the right places. No more
writer's cramp!
The notaire will give an “Attestation” to the
buyer and seller. For the seller it allows
them to cancel their insurances etc. and for
the buyer it is proof of ownership while the
Notaire registers the transfer with the land
registry. During the next three to six months
the new owner will receive a certified copy
of the Acte.
Signing done - the keys are handed over.
The proud new owner can now “live the
dream” and it really is time for those
Champagne corks to pop.
As always comments and questions can be
passed through the team at The Good Life
France or directly to me: tsage@leggett.fr