New discounts have been introduced that apply to the work the notaire performs as part of the purchasing process in France. The main role of the notaire is to uphold French law throughout property transactions, and as such he works for neither the buyer nor the seller; the notaire is there to make sure the legal process of buying in France is carried out properly. You will usually only need one notaire, but you are at liberty to choose a separate one if you wish – the fees will be no higher, but rather split between the two of them.
Notaires will now be able to offer a discount on their fees – excellent news for anyone buying in France.
The notaire will oversee the signing of both the Compromis de Vente and the Acte de Vente. You do not have to be present for either of these as they can be carried out by proxy. Having said that, it is often an enjoyable occasion with much hand shaking going on when you finally sign and are given the keys to your new lovely French property! These new discounts will come into effect from May 1st 2016, and should work in your favour as the notaires will be able to offer a discount on their fees – excellent news for anyone buying in France.
For any sale over €150,000, notaires will be able to give a discount of up to 10% on their fees. It’s important to note, however, that they are not obliged to inform the buyer of this – so you will need to establish the correct fees ahead of the process, preferably in writing. Your property agent should help you with this. The new discounts only apply to the notaire’s fee for the actual work he does, and all taxes and charges administered by the government will still apply. The notaire’s total fee embraces a whole package: conveyancing, land registry, searches, taxes and charges – plus his fee for the work he does. Still, this new discount can only help the property market in France; in a market which has to date seen few price rises, this will likely serve to kick start the property market this year.
The notaire can advise on inheritance and tax matters, so it may be beneficial to ask if this can be done at the same time when buying in France.
When thinking about notaires, don’t forget that the notaire can advise on inheritance and tax matters, so it may be beneficial to ask if this can be done at the same time when buying in France. For peace of mind we advise employing the services of a solicitor in the UK who specialises in French law. He will be able to help with all aspects of your purchase and will have up-to-the-minute information on these new notaire’s discounts. Please ask us for our recommended experts in this area.