Buying a house or an apartment on the Côte d‘Azur can sometimes cause some healthy stress. Especially if you have found exactly that good apartment via our site and service, but you are six weeks later in France to view the location. Without making it into a sales story, the fact is that new construction in the South of France is 80% sold before the first excavator arrives. It is therefore important to be able to decide quickly.
Buying on the Côte d‘Azur starts with a remote reservation
Anyone who knows the region or the neighborhood insufficiently would of course prefer to come and see for yourself. After all, it’s not a baguette you buy. Fortunately, there is Google Earth and Street View that allow you to scroll through the neighborhood. And then you can do two things: wait until you get there. Or start the reservation process in advance.
Unfortunately, we have seen too often that if customers arrive hopefully a month later, the sought-after apartment has been sold, or is at best under option. By initiating the reservation process for purchases in the South of France, you will save important time and block sales by other agents and brokers. You do not run any risk because as a prospective buyer you are protected by law. This is also all clearly described in the reservation contract.
What is the method to save time when buying a French Riviera apartment
First of all, as with any purchase, money talks. Once we have registered your name as a potential buyer, you will receive a reservation contract from us and the bank details of a third party account which is managed by the notary. The notary in France is no more than a tax official who ensures that your file is in order and that the transfer tax on your purchase is properly paid. A notary receives only a fraction of the amount you pay in notary fees. It is just enough to cover the file and office costs.
First you transfer the required 3 or 5% as a deposit on your apartment. Do not forget to include your name, the name of the program and the number of the apartment. With a screenshot as proof, we report to the notary and the project developer that your papers are coming. You do this in week 1.
After explaining the required documents by us, fill in the papers according to instructions. Also mention that you need a mortgage, that gives you an extra month and a resolutive condition. Make a scan of all papers and send it to us. Then you send all the papers after the project developer. With the speed of paper mail, this can take up to two weeks, especially if you send it later in the second week. Because the project developer has now received the money and a scan of your file, you are in no hurry. In the third week, your paper file arrives at the project developer.
New construction purchase and reservation South of France
Now your file is processed at the project developer. They look at the correct name, payment and the chosen apartment. If everything is correct, they put a stamp and signature under the contract you have already signed. This can take 1 to 2 weeks, depending on the number of sales. You will then receive a DHL package with all paperwork signed at your home address. From the moment you have signed for receipt, a further ten working days will commence. You can cancel everything in those ten days and your deposit will be returned by the notary. No risk, but you save more than a month extra time.
If you have not yet gained enough time to come to the Côte d´Azur after more than a month, you will stay on track with the mortgage application route. Even if you do not need a mortgage, the application for financing gives you another 30 days after those ten days to make the decision final. By then, we are now more than 2 months later, you can still decide whether or not to buy. You have been able to view the apartment and the location and everything continues to roll according to plan.
Two months later you will receive an invitation to sign the final purchase contract with the notary. You then transfer 25% of the purchase price a week before that date, with which you have already paid a total of 30%. During the construction work you will always receive a reminder of the progress and the next installment of payment.
For more questions about this way of booking remotely, you can always contact us.