Your notary is a bit like your family doctor: for your real estate purchase project, he will always give good advice in your best interests, and will help you avoid pitfalls and blockages.
The purchase of a home is one of the most important acts of a life with heavy financial consequences. Admittedly, information and diagnoses are communicated to the buyer, but the fear of overpaying for the property is present in the mind of any future property owner. So you might as well not add the risk that a clause contrary to your interests will slip into the pre-contract or the sales contract. Better to have your own notary on your side.
The purchaser bears all the expenses known as notary fees, including in particular taxes and notary fees. Schematizing, we can say that the buyer offers the seller the services of his notary!
Real estate: these diagnoses from which the seller cannot escape
Buying or selling your home: the right questions
The buyer is confronted with multiple questions. For example, if he has to sell his current property: does he have to pay capital gains tax on the sale?
Fortunately, if it is a question of giving up one’s principal residence, the capital gain is totally exempt from tax. Similarly, a tenant who sells a second home to acquire or build his main residence escapes capital gains tax provided he completes the investment within twenty-four months at the latest.
Other questions from the seller which call for a precise answer: could I have the sale of my current home coincide with the acquisition of my new home? In other words, is the double purchase/resale operation judicious and easy?
Relay loan or resale purchase: these solutions to acquire a new property
Should I entrust a sales mandate to a real estate agent or try to sell directly by myself? And in this case, how do I estimate the value of the home I want to sell so as not to sell it off or ask for a dissuasive price?
The candidate for real estate acquisition, especially if he decides to buy a property for the first time, has many points to settle concerning the financing of his purchase: what amount of real estate loan can I expect? Can the bank refuse my mortgage application?
Will the surety company want to provide me with its guarantee for my mortgage or will I have to resort to a mortgage, a much more expensive formula? Can I easily obtain borrower insurance at a reasonable cost?
Real estate credit: between surety and mortgage, what choice for the borrower?
Once found the rare pearl, it is not only the price to negotiate. Even if the consumer code protects the buyer, it is better to be careful.
The purchase of real estate is a long-term affair, which is carried out in two stages: the signing of a preliminary contract in the form of a compromise or promise to sell and approximately four months later the final sale at the notary’s.
Indeed, the deed of sale of real estate must be an authentic deed, that is to say drawn up by a notary and then published by this professional at the Land Publicity Service, the national real estate file which lists all the titles of property.
Sales agreement: here are 4 key points to watch out for before signing
A minimum period of one month to find a loan
The period granted to the purchaser to seek a mortgage is at least one month, indicated in article L312-16 of the consumer code.
This period is often much too short. It is prudent that the compromise or the promise of sale gives you a period of at least 60 days to seek a mortgage. Otherwise, refuse to sign, and look for another property.
Two notaries for the price of one
In practice, it is generally the seller’s notary who drafts the promise or the sales agreement and the authentic deed of sale. It also happens that real estate sales professionals impose their notary.
Whether you are a buyer or a seller, you always have the possibility of being assisted by your own notary, at no additional cost because the fees will be shared between them. Moreover, it does not matter where your notary is domiciled: the competence of a notary extends throughout the national territory.
The huge advantage is that in the event of disagreements or possible blockages, each notary can negotiate for the client who has mandated him. Using your own notary is also the guarantee of benefiting from tailor-made advice on any question you may have, in particular on certain clauses and deadlines of the preliminary contract and/or the deed of sale which question you. For
find your own notary, simply ask those around you for the contact details of a good notary or connect to the site of the notaries of France.
Real estate purchase: compromise, promise of sale… Sometimes unexpected consequences