You have found the property you want to buy in France. You have negotiated with the estate agent, submitted your offer and finally received the news you have been waiting for.
The seller has accepted.
It is an exciting moment. But once the initial excitement settles, an important question follows. What happens now?
If you are buying property in France for the first time, particularly from the United States or UK, the process after an accepted offer can feel surprisingly unfamiliar. There is the compromis de vente, the notaire, the cooling-off period, the deposit and a considerable amount of paperwork before you receive the keys.
The good news is that the French property purchase process is structured and contains important protections for buyers. Here is what you need to know.
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Your offer is accepted. Are you committed?
Having an offer accepted in France is not simply an informal agreement. When you submit a written offer to purchase, known as an offre d’achat, you are proposing to buy at a particular price and under certain conditions. If the seller accepts without changing the terms, the acceptance can create legal obligations under French law.
This is why you should be careful about submitting written offers before you are genuinely ready to proceed.
A written offer should clearly identify the property, the proposed purchase price, the offer date and how long it remains valid. You should also include relevant information about your financing arrangements and any conditions affecting your decision. If you need a mortgage, that should be clear from the start.
What is the compromis de vente?
Important to know
Once your offer has been accepted, the next major stage is signing a compromis de vente. This is the preliminary sale agreement, and it is one of the most important documents you will sign during the purchase process.
It identifies the buyer and seller, describes the property, confirms the agreed purchase price and sets out the conditions under which the sale will proceed. It will also include information about the property’s legal status, relevant diagnostic reports, financing arrangements and the anticipated completion date.
Once the statutory withdrawal period has expired, the buyer is generally committed to proceeding unless a legal or contractual condition allows the purchase to be cancelled.
Is a compromis the same as a promesse de vente?
Not exactly. A compromis de vente creates mutual commitments: both buyer and seller undertake to complete the transaction. A promesse unilatérale de vente gives the buyer an option to purchase during an agreed period, while the seller commits to the sale. The legal structure is different, and the financial arrangements may vary. Make sure you understand which document you are signing.
Do not treat the preliminary agreement as a formality. Check the exact property and outbuildings included, the agreed price and agency fees, any furniture included, the deposit arrangements, mortgage conditions, mandatory diagnostic reports, easements or rights of way, and the anticipated completion date. If your French is not strong enough to follow the legal detail, arrange an independent translation or professional assistance.
If you are buying an apartment in a copropriété, you will also need to review the co-ownership regulations, recent meeting minutes, building charges and planned works. A beautiful apartment might look excellent value, but significant co-ownership charges could affect your overall budget considerably.
How the 10-day cooling-off period works
One of the most important protections for buyers of residential property in France is the statutory 10-day withdrawal period, known as the délai de rétractation.
For a qualifying non-professional buyer purchasing residential property, this period generally allows you to withdraw without providing a reason or paying a contractual penalty.
When does it start?
The 10-day period does not begin when your offer is accepted. It generally starts the day after the preliminary contract has been properly notified or delivered to the buyer. Where notification is made by registered post, the period starts the day after the first presentation of the letter. If the final day falls on a Saturday, Sunday or public holiday, the deadline extends to the next working day.
Always confirm the exact withdrawal deadline with your notaire, rather than simply counting ten days from the date you signed.
If two people are purchasing together, each qualifying buyer must be properly notified of the preliminary agreement. This is particularly important for couples purchasing from abroad, where documents may be sent electronically or to a shared address. Do not assume notification to one buyer automatically satisfies the requirements for the other.
Can you withdraw during those 10 days?
Yes, if the statutory right applies. You can withdraw without having to justify your decision. However, you must communicate using a legally valid method within the deadline. Ask your notaire to confirm the correct procedure. If you have already paid a deposit under an authorised arrangement, the money must be returned within the statutory timeframe, generally within 21 days from the day after your valid withdrawal.
The 10-day protection applies to qualifying non-professional buyers of residential property. It does not automatically extend to commercial purchases, professional buyers or investment structures. If you are buying through a French SCI or other company structure, seek advice before assuming the standard protection applies.
What the notaire does
A notaire is a legally qualified public officer responsible for authenticating legal transactions including property sales. Their role is far more extensive than simply witnessing signatures.
The notaire checks the identity and legal capacity of the parties, verifies the seller’s ownership, examines registered mortgages or charges, reviews planning information, the cadastral situation and applicable rights of pre-emption. A right of pre-emption allows certain parties, such as a local authority in specified circumstances or the SAFER organisation for rural properties, to purchase ahead of the intended buyer.
- Energy performance, through the diagnostic de performance énergétique (DPE)
- Asbestos and lead
- Electrical and gas installations
- Termites and other specified risks
- Natural, technological and environmental risks
- Sanitation arrangements
- Other diagnostics required by the property’s age, location and characteristics
The notaire's legal checks do not replace a professional building inspection. They do not inspect the roof, test the plumbing or identify hidden structural defects. If you want a professional assessment of the property's physical condition, arrange an appropriate survey. This is particularly important for older French houses, rural properties or buildings that have undergone significant renovations.
You can appoint your own notaire as a buyer. If the buyer and seller each use separate notaires, they work together and the regulated notarial remuneration is generally shared rather than charged twice. For international buyers, a notaire comfortable with overseas clients can be helpful.
What happens to your deposit?
When signing the preliminary agreement, buyers are often asked to pay a deposit. Under a compromis de vente, this is commonly called a dépôt de garantie. A deposit of around 5% to 10% of the purchase price is common, although there is no universal requirement. The amount depends on the agreement.
The deposit is commonly held through the notaire or another legally authorised arrangement. It should not be transferred into the seller’s personal bank account. Legal restrictions also apply to receiving funds during the statutory withdrawal period.
What happens at completion?
If the sale proceeds, the deposit is credited towards the agreed purchase price. If you paid 15,000 € on a 300,000 € purchase, that amount is deducted from the balance due. You will still need to budget separately for taxes, notarial costs and any other amounts due at completion.
If you exercise a valid statutory withdrawal right, the deposit must be returned under the applicable rules. If the sale cannot proceed because a properly drafted condition suspensive was not satisfied, the deposit is generally returned, provided the legal and contractual requirements have been met. If you simply refuse to complete after the withdrawal period with no valid protection, you may face contractual penalties or other remedies, depending on the agreement.
Buying with money from the USA or UK
This is one of the most overlooked aspects of buying property in France, and it matters from the moment your offer is accepted.
You might agree to purchase a house for €300,000, but if your savings are held in US dollars or British pounds, you do not know the final cost in your home currency until you exchange the money. And during the period between offer accepted and completion, exchange rates can move significantly.
How much difference can exchange rates make?
Imagine you are buying a property for 300,000 €. If the exchange rate is 1.15 € to £1, the purchase costs approximately £260,870. If the pound weakens to 1.10 €, the same property costs approximately £272,727. That is a difference of nearly £12,000, with no change to the agreed euro price. These are illustrative rates, not current quotations, and exclude transfer charges and exchange-rate margins.
For American buyers, the same logic applies to dollar-to-euro movements. And remember that you will also need euros for the deposit, taxes, notarial costs and potentially renovation and moving expenses.
Ideally, start thinking about your currency arrangements before you submit an offer. Once accepted, you will need euros for the deposit relatively early, then the remaining purchase funds before completion. Depending on your provider, eligibility and circumstances, a forward contract may allow you to agree an exchange rate for a future transfer. This can provide certainty about costs, but involves contractual commitments and risks you need to understand fully. The important thing is to plan ahead, not leave a large currency exchange until a few days before completion.
How does Ibanista help?
At Ibanista, currency transfers are one of the main ways we support international buyers moving money to France. We help clients understand their options, plan around completion dates and manage the practical process of sending funds internationally. Whether you are preparing to send your deposit or arranging the final balance for your notaire, our team can help with a dedicated point of contact.
What if something goes wrong?
Not every French property purchase proceeds as planned. A mortgage application might be refused, the notaire might uncover a legal issue, a required document might take longer than expected, or the seller may need more time. This is where the conditions written into the preliminary contract become important.
For American buyers, the same logic applies to dollar-to-euro movements. And remember that you will also need euros for the deposit, taxes, notarial costs and potentially renovation and moving expenses.
What is a condition suspensive?
A condition suspensive is a contractual condition that must be satisfied for the sale to proceed. The most common example is the mortgage condition. If you are purchasing a qualifying residential property with a mortgage, the preliminary agreement must normally include a financing condition specifying the loan amount, maximum interest rate and applicable deadlines. The period allowed for obtaining the mortgage cannot be shorter than one month. In practice, 45 to 60 days is common.
If you make the required applications and cannot obtain financing, the condition may allow the sale to be cancelled without the normal contractual penalty. But you must comply with the requirements and deadlines specified in the agreement. You cannot decide not to apply and assume you are automatically protected.
If you are buying entirely with your own funds, this must be addressed correctly in the preliminary contract. French law contains specific requirements. You should not assume you can later rely on a mortgage condition if the agreement states you are buying without financing. A change in exchange rate does not ordinarily give you an automatic right to cancel. That is another reason to plan your currency arrangements early.
What about completion delays?
The anticipated completion date is stated in the preliminary agreement, but the legal consequences of missing it depend on the contract and circumstances. Parties can often agree to extend the date. If the completion date is important because you have booked removals or given notice on your existing home, make sure your notaire understands your circumstances. Avoid irreversible arrangements until the completion date is sufficiently certain.
How long does it take to complete?
For a straightforward purchase, allow several months between offer accepted and receiving the keys. The exact timeline depends on how quickly the preliminary agreement is prepared, whether you need a mortgage and whether any legal or administrative issues arise.
| Stage | Typical timing |
|---|---|
| Offer accepted | Day 1 |
| Preliminary agreement signed | Often within a few weeks |
| Statutory withdrawal period | 10 days from legal notification date |
| Notaire checks and financing | Usually several weeks |
| Mortgage condition period | At least one month (often 45–60 days) |
| Final funds transferred | Before completion, as instructed by notaire |
| Acte authentique signed | Often around 2–3 months after preliminary agreement |
| Keys handed over | Normally on completion day |
The final signing: Acte authentique
The final stage of the purchase is signing the acte authentique de vente, the official deed of sale authenticated by the notaire. This is when ownership formally transfers.
Before the signing, the notaire will prepare final documentation and confirm the amount you need to transfer, including the balance of the purchase price and associated costs. International transfers should be arranged with sufficient time for banking and compliance checks. Do not assume a transfer will arrive instantly.
Property transactions can be targeted by payment fraud. If you receive an email asking you to send a large sum to a bank account, verify the details independently. Use a telephone number you have already confirmed belongs to the notaire's office. If bank details change at the last minute, treat it as a reason for additional verification. Never transfer property funds to new account details without checking them directly.
Arrange a final property visit
Before completion, visit the property to confirm it is in the expected condition, that agreed items remain and that no unexpected damage has occurred. If the property was to be sold vacant, confirm the seller has moved out. Raise any issues with the notaire before signing.
When do you receive the keys?
In a standard purchase, the keys are handed over when the acte authentique is signed and the sale is completed, unless a different arrangement has been agreed. The administrative process continues after signing: the notaire still needs to complete post-sale formalities and register the deed. You may receive an initial certificate confirming ownership before the final registered copy, which can take additional time. But you do not normally have to wait before moving in.
Ibanista Currency
Buying in France With Money From the USA or UK?
At Ibanista, we help international property buyers arrange currency transfers, understand their options and plan payments around French property completion dates. Whether you are sending your deposit or arranging the final balance for your notaire, we can help.
Find Out More About Sending Money to FranceFrequently asked questions on buying a house in France
The next stage is usually preparation and signing of a preliminary agreement, such as a compromis de vente. After the applicable withdrawal period, the notaire carries out necessary checks, financing and contractual conditions are addressed, and the parties prepare for the final signing of the acte authentique.
An accepted written offer can create legal obligations. Once the seller accepts without changing its terms, the seller is generally committed. Qualifying non-professional residential buyers subsequently benefit from statutory withdrawal protection under the applicable rules.
A compromis de vente is a preliminary sale agreement under which buyer and seller undertake to complete a French property transaction, subject to the applicable withdrawal rights and contractual conditions.
It generally starts the day after the preliminary contract has been properly notified or delivered to the buyer. The exact deadline should be confirmed with your notaire rather than simply counting ten days from the signing date.
A deposit of around 5% to 10% of the purchase price is common under a compromis de vente, although the amount depends on the agreement and is not universally required.
Yes. If your funds are held in pounds or dollars, changes in the exchange rate can significantly affect the amount of your home currency required to complete. Currency fluctuations do not ordinarily provide an automatic right to cancel.
If the contract contains an applicable mortgage condition and you have complied with its requirements, refusal of financing may allow the purchase to be cancelled without the normal contractual penalty.
Yes. Certain stages can be handled remotely, and the final deed may be signed through an appropriate power of attorney or another legally authorised procedure arranged with the notaire in advance.
In a standard purchase, the keys are normally handed over when the acte authentique de vente is signed and the sale is completed, unless a different arrangement has been agreed.
Many straightforward transactions complete around two to three months after the preliminary agreement is signed, although financing, legal checks and administrative delays can extend the process.
