Notary and the legal framework

You freely choose your notary, with no obligation to use the seller's. Buyer and seller can each have their own notary: this does not increase the fees, because the two notaries share an identical fee. The notary is an impartial public officer who guarantees the security of the deed.

"Notary fees" represent around 7 to 8% of the price for existing property and 2 to 3% for new-build. Their largest share corresponds to transfer duties paid to the State and local authorities (taxes), and not to the notary's fee, which follows a regulated, degressive tariff.

A buyer of a dwelling, if they are not a professional, benefits from a 10-day withdrawal period after notification of the sale agreement or unilateral promise (Article L.271-1 of the French Construction and Housing Code, CCH). During this period, they can withdraw without reason or penalty and recover their deposit.

The bilateral sale agreement (synallagmatic promise) mutually binds seller and buyer: it amounts to a sale as soon as there is agreement on the item and the price. The unilateral promise to sell binds only the seller, who reserves the property for the buyer; the latter holds an option and pays an immobilization indemnity (often 10%).

The pre-dated statement is a document that gathers the financial information relating to a co-ownership lot (current charges, works fund, ongoing proceedings) in order to inform the buyer before signing the sale agreement. It differs from the "dated statement", a formal document drawn up by the managing agent for the notary before the authenticated deed.

If you are selling a co-ownership lot, the ALUR Act requires you to give the buyer, no later than the day the preliminary agreement is signed, the seven categories of document listed in paragraph II of article L. 721-2 of the Construction and Housing Code. If you are letting, it requires a tenancy agreement matching the model contract in decree no. 2015-587 of 29 May 2015, an information notice annexed to it, a technical survey pack, and a closed list of documents you may ask a prospective tenant for.