The process of buying a house in France is quite different to that in the UK - for one thing, it varies depending upon whether the property is new or old.

Old Property

On agreeing a price you sign a 'compromis de vente', an agreement to purchase that is legally binding.

Many of these are provided in standard formats by estate agents; however it is important that you know what you are signing. And be aware that even standard forms may have been amended by hand.

In England, people are used to making offers and agreeing to buy long before the final legal commitment; in France this is not the case.

You should fax the 'compromis de vente' to a French-speaking UK solicitor who is a specialist in French property matters.

Peace of mind

He or she cannot replace the services of a French notaire, the legal officer in France who carries out the conveyancing, but they can provide you with peace of mind as they will oversee the purchase and look out for your interests.

The French estate agent may specify which notaire is to carry out the legal conveyancing but you can request a different notaire to act on your behalf and the two will split the fees between them.

The legal costs of purchasing an older house (including the French equivalent of stamp duty)will add 8-10 per cent to the purchase costs. This is reduced to 3-5 per cent for new properties.

This cost cannot usually be mortgaged so the buyer must come up with it in cash - on top of the mortgage deposit.

New Property

If you see a new property you like it is important to act quickly.

Some developments sell quickly, particularly leasebacks, so to get the property of your choice you need to follow the French system.

Some developers will give you a verbal option for a few days against a property, others won't, particularly if the development is near the end of its sales.

However a verbal option isn't worth the paper it is not written on and for safety's sake you should sign a reservation contract as soon as possible to ensure the property is taken off the market.

All French buyers do this and it takes a little time for foreigners to understand the strong consumer law that protects purchasers of property in France.

Cooling off period

A reservation contract, signed by you, is sent to the builder for signing and will come back to you by registered post in a few weeks. Upon receipt you have a seven-day cooling off period during which you can change your mind about the purchase.

In addition, every reservation contract has a ‘mortgage clause' so if you cannot obtain a mortgage the contract is null and void. In these circumstances your deposit will be returned.

Finally, two or more months after signing the reservation contract the Acte de Vente is signed and the property is yours. Be aware, though, that the development may only be up to foundations stage by this time. This is usual practice in France.

Deposit

The deposit (typically 5 per cent) is normally paid at the same time as signing the reservation contract. However, you should never pay the builder direct. Instead pay the notaire who will put the money in a safe escrow account.

When the Acte de Vente is signed, the second payment - usually a further 25 per cent, again paid to the notaire - normally falls due.

Further stage payments are made to the notaire over the build cycle of the property and these are normally met by the bank.

Interest is due on the increasing bank borrowings over this period but this should be offset by the increase in the property's value over this period.