The stages of a real estate purchase: a complete guide

Buying real estate is a large-scale project that requires careful preparation. Whether you are a first-time buyer or simply looking for new opportunities, understanding the different steps will allow you to better navigate through this process. Here is a comprehensive guide that will help you succeed in your Buying real estate in France, from the search for your property to the signing of theauthentic act.

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1. Prepare your real estate project

Before you start looking for your property, it is essential to properly prepare your real estate project. This preparation starts with defining your needs, but especially with assessing your finances. The objective here is to know what type of property you can buy according to your financing capacity.

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Evaluate your borrowing capacity

The first step in preparing is knowing your borrowing capacity. This involves calculating your Debt ratio, an essential criterion to determine if you are eligible for a Real estate loan. This rate should generally stay under 33% of your monthly income. Banks will use this information to define how much credit you can get.

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Set a budget for the purchase

Depending on how much you can borrow, you can determine the selling price maximum you are willing to pay for a property. Remember that the selling price is only part of the total cost of buying real estate. You will also need to take into account the notary fees, application fees for Real estate credit, as well as borrower insurance.

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2. Look for the ideal property

Finding your property is an exciting step, but it also requires good organization. It is likely that as you search, you will come across a property that will be your real one. Crush. When that happens, it's important not to get carried away by the emotion. Take the time to analyze all legal and financial criteria before making a Purchase offer.

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Call on a real estate agent

If you don't want to get lost in the multitude of online ads, a real estate agency can be of great help to you. In fact, the real estate agents know the local market and can offer you properties that they have in an agency and that match your criteria.

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In addition to the research, they will assist you in negotiating the selling price and drafting the necessary documents, such as thePurchase offer.

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Call on a real estate hunter

Finding the ideal property can quickly become a real headache, especially for first-time buyers. One Real estate hunter is a research professional who can save you valuable time.

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As a real estate expert, he has a large network with agencies and other real estate agents. They know how to find goods outside of conventional circuits and how to best negotiate the selling price. He does not have any goods in stock but has access to all the goods on the market.

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Call on a Real estate hunter allows you to precisely target your expectations while saving you from unnecessary visits. In addition, they assist you in optimizing your file and protect you against the risk of scams. It is personalized support for a real estate project stress-free and faster.

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Verify legal information

When you visit a property, it is important to check certain legal documents. For example, ask to see the condominium regulations. This document will inform you about the rules and charges related to the building. You can also ask to consult the Minutes of the last general meetings to find out if there are any work projects or problems in progress in the building.

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3. The offer to purchase and the promise to sell

Once you have found the property that suits you, you must formalize your desire to buy with a Purchase offer. This document indicates your proposal for selling price and may include specific conditions such as a suspensive condition related to obtaining Real estate credit.

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The sales promise: a serious commitment

After the acceptance of the offer, you will enter the phase of Promise to sell. This document, which marks an initial commitment between the buyer and the seller, sets out the conditions of the sale. One of the elements to check in this document is the presence of suspensive conditions, which allow the buyer to withdraw if certain conditions are not met, such as not obtaining the mortgage.

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4. The sales agreement: the key step

Once the Promise to sell signed, you will move on to the next step: the Sales agreement. This document is much more engaging than the promise to sell. By signing this compromise, you and the seller agree to finalize the transaction under certain conditions.

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The security deposit

When signing the Sales agreement, you will have to pay a security deposit. This generally represents between 5 and 10% of selling price. This amount will be deducted from the final purchase price, but it may be lost if you withdraw after Withdrawal period.

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The withdrawal period: your right to think

After signing the sales agreement, you have a 10-day withdrawal period. This deadline allows you to cancel the sale without justification, provided that you respect this deadline. It is a fundamental right that protects buyers as part of their real estate project.

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5. Obtaining financing: real estate credit

Financing your real estate purchase is often a decisive step. If you do not have the necessary funds, you will have to apply for a Real estate credit. This loan allows you to cover most of the selling price good.

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Choosing the right loan offer

Obtaining a Real estate loan depends on several criteria, including your Debt ratio and the duration of the loan. The credit interest rate is a key factor to negotiate, as it impacts the total cost of credit. Banks will also ask you for borrower insurance, which is often essential to cover the repayment in case of unforeseen circumstances.

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6. The signing of the authentic act at the notary

Once all the procedures have been completed, comes the final step: the signing of theDeed of sale. This legal document is drawn up by the notary and officially acts of transfer of ownership from the seller to the buyer. This is when the total transaction amount, including notary fees, is set. THEauthentic act also gives you the opportunity to take possession of the property once the sale is concluded.

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The role of the notary

The notary verifies the legal compliance of the sale. It ensures that all information is accurate and that the parties respect their commitments. At this point, you will need to set the notary fees, which include taxes and notary fees. These generally represent between 7 and 8% of the selling price.

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7. Ancillary costs to be expected

In addition to the selling price And notary fees, you will also need to take into account the application fees for your Real estate credit and borrower insurance. Another cost that should not be overlooked is the property tax. This is due each year by the owner of a property and varies according to the location of the property and its cadastral value.

Notary fees include:

• Transfer taxes, which are a tax collected by the State;
• Management fees and notary fees;
• Ancillary costs for verifying legal documents, such as Minutes And the condominium regulations.

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8. Withdrawal: a last step before signing

It is important to know that if you change your mind after signing the Sales agreement, you have the option of retracting for a 10-day withdrawal period. This deadline is a fundamental right of the buyer. If you can't get your Real estate loan or if essential information has been hidden from you, this delay allows you to reconsider your decision without penalty.

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Conclusion: the real estate project is becoming a reality

Buying real estate is an ambitious and exciting project. By following the steps mentioned in this article and taking care to fully understand each approach, you can succeed in your Buying real estate and fulfill your dream of becoming a homeowner.

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From the search for the property to the signing of theauthentic act, each stage of your real estate project brings you closer to the realization of your main residence. Let yourself be guided by professionals like a hunter realty and benefit from expert advice to successfully complete your project.

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FAQ - Buying Real Estate

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1. Buying real estate: what are the main key steps?

Buying real estate involves several essential steps:

• Property search : After defining your criteria (budget, location, type of property), you can either consult the online ads, or use a real estate agency to help you find properties that meet your expectations. This is also when you can have a genuine Crush.
• Purchase offer : Once you have found your property, you formulate a Purchase offer. This offer is a price proposal to the seller and can be accepted, rejected, or negotiated.
• Sales agreement : When you have agreed with the seller, you sign a Sales agreement. This document formalizes the agreement between the two parties and binds you under certain conditions, in particular the Suspensive condition linked to obtaining the Real estate loan.
• Signature of the authentic act : This final stage takes place at the notary. It is the signature ofDeed of sale which formalizes the transfer of ownership.

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2. What is the minimum time between compromise and sale?

The minimum amount of time between the signing of Sales agreement And that ofDeed of sale is generally 3 months. However, this period may vary depending on the property and the financing conditions. The Withdrawal period of 10 days allows the buyer to reconsider his decision after signing the compromise. It is only once this period has elapsed that the notary can begin the steps to organize the signing of the authentic act.

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3. Who decides on the date of signature at the notary?

La date of signature Of theauthentic act is agreed upon by mutual agreement between the buyer, the seller and the notary. In general, the notary offers a time slot compatible with the availability of both parties. This date is often chosen after all conditions, such as obtaining the Real estate loan and the regularization of certain documents (such as the condominium regulations), are filled.

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4. Who pays for the sales agreement at the notary?

Payment of fees relating to Sales agreement varies according to the agreements made between the buyer and the seller. Generally, the costs associated with drafting the sales agreement are borne by the buyer, although this can be negotiated. These costs often include fees for the notary or for thereal estate agent whether it played a role in the transaction.

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5. What are the 4 axes of the purchasing criteria?

When buying real estate, it is essential to define your purchase criteria. Here are the 4 main axes:

• The budget : You need to make sure that your gearing is compatible with the amount of your Real estate loan. Don't forget to include notary fees and other ancillary costs in your calculations.
• The location : The proximity to transport, schools, shops or even public services can influence your choice. The location also impacts the selling price good.
• The characteristics of the property : The type of property (apartment, house, main residence) and its characteristics (number of rooms, area, general condition) are essential in the choice.
• The legal aspect : Check the condominium regulations if it is an apartment or a condominium residence. Also, ensure the compliance of legal documents such as Minutes general meetings and the absence of hidden charges.

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