What are the 10 steps of buying a property?

In this article, we'll break down the property-buying process into 10 simple, clear steps, to guide you through each phase and help you prepare as best you can to become a homeowner. Whether you're a first-time buyer or already have some experience, this article will provide you with all the information you need to navigate your real estate project serenely.

1. Defining your property purchase project

The first step to a successful property purchase is to clearly define your project. This means thinking carefully about your housing needs and expectations.

Establishing your needs

Before you start visiting properties, take the time to list your essential search criteria. What type of property are you looking for? An apartment, a house, a studio? Where would you like to buy? City, suburb, countryside? Is proximity to public transport, schools, shops and green spaces important to you? Also consider the size of the property: how many rooms and square meters are suitable for you? Do you need a garden, balcony or parking space?

List the essential and optional features. Be careful not to look for a five-legged sheep. To make sure your search is realistic, talk to a real estate agent or hunter. They can give you their point of view and advise you to avoid wasting time on useless research.

Define your budget

Once you've identified your needs, you need to assess your purchasing capacity. To do this, it's crucial to define a total budget including the price of the property, notary fees, agency fees (if any), and any work to be carried out. You should also calculate the possible monthly repayments based on your personal contribution, your borrowing capacity and the term of your loan.

This will enable you to determine the maximum amount you can invest, so you can concentrate on properties that match your financial means.

For this stage, if you want to be effective, it's important to submit your estimate to a professional who will advise you on the consistency of your forecast with the reality of the real estate market.

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Taking the time to clearly define your buying project is essential to effectively guide your search and avoid wasting time on properties that don't match your criteria or budget.

2. Check your borrowing capacity

Once you've defined your purchase project, the next crucial step is to check your borrowing capacity. This will tell you exactly how much you can borrow to finance your property purchase, based on your income, expenses and personal contribution.

Consult a financial advisor or use online simulators

To begin with, we recommend that you make an initial estimate of your borrowing capacity. You can use online simulators provided by banks or specialized real estate websites. These tools will give you a rough idea of how much you can borrow, based on your income, loan term and interest rate. However, these simulations are no substitute for professional advice.

For a more precise and personalized assessment, make an appointment with a financial advisor or mortgage broker. He or she will be able to analyze your financial situation in detail (income, existing debts, debt ratio, savings, etc.) and suggest the best financing options for your profile. He or she will also be able to tell you about any financial assistance available (zero-rate loans, local grants, etc.) that could reduce the cost of your loan.

Getting an agreement in principle from the bank

Once your borrowing capacity has been checked, we strongly recommend that you obtain an agreement in principle from the bank. This is a non-binding confirmation from the bank that it is prepared to grant you a loan under certain conditions (amount, interest rate, term, etc.).

To obtain this agreement, you'll need to provide the bank with a number of documents, such as pay slips, bank statements, tax returns and an estimate of your monthly expenses. The agreement in principle will enable you to strengthen your position when negotiating with the seller, by proving your solvency and seriousness. It is also a guarantee of security for you, as it assures you that your purchase project is financially feasible.

By taking the time to check your borrowing capacity and obtain an agreement in principle, you can better target your property search and avoid committing yourself to properties beyond your financial means. This is a key step in approaching your property purchase with peace of mind and confidence.

3. Find the ideal property

Once your borrowing capacity has been determined, it's time to start looking for the property that suits your needs and budget. This is an exciting stage, but it can also be time-consuming and sometimes frustrating. To maximize your chances of finding the property of your dreams, it's essential to use all the tools at your disposal and to prepare your visits carefully.

Use real estate websites, agencies and personal networks

The search for the ideal property involves careful exploration of the real estate market. Real estate websites (such as SeLoger, Le Bon Coin, Bien'ici, etc.) are excellent starting points for obtaining an overview of available properties in your desired geographical area. You can filter listings by property type, price, surface area, number of rooms and other criteria specific to your needs.

You can also set up alerts to keep you informed as quickly as possible of new properties coming onto the market.

At the same time, it's a good idea to get in touch with local estate agents. Real estate agents often have a portfolio of exclusive properties that are not necessarily published on online platforms. What's more, their expertise and knowledge of the local market can help you refine your search and better assess the fair price of properties.

There are real estate agencies specializing in atypical properties, high-end properties, ground-floor apartments or apartments with terraces. Contact them too if your search matches these criteria.

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And don't forget to tap into your personal networks: tell your family, colleagues and friends about your search. Word-of-mouth is sometimes an effective way of finding properties even before they are put up for public sale.

The importance of visits and property valuation

A first piece of advice: don't waste your time visiting properties that don't meet all the criteria you consider “non-negotiable” in your specifications. Take the time to question real estate agents or owners during the first contact to check that the apartment corresponds to your wishes.

Visits are an essential step in the property search process. They allow you to get a real feel for the property's condition, layout, exposure and surroundings. When you visit a property, don't just take a quick look; take the time to inspect each room, to check that it's quiet, bright, has a coherent flow of movement between rooms, spaciousness, etc., and to ask questions about any work to be carried out, co-ownership charges, or development projects in the area.

It's also essential to evaluate the property objectively, taking into account its price in relation to similar properties on the market. To do this, you can consult the sale prices of comparable properties recently sold in the same area, or ask a real estate expert for advice. Don't forget that the posted selling price is sometimes negotiable. The selling price is influenced by several factors, such as the state of the market, the location and the condition of the property.

If the apartment needs work, it's important to consult an architect or contractor. They will be able to tell you the budget required and the extent of the work to be carried out.

Don't be content with the real estate agent's opinion, as he or she is generally not qualified to assess the work involved.

Looking for the ideal property takes time, patience and organization. Multiply your search channels, don't overlook any opportunity and, above all, prepare well for each visit. This will increase your chances of finding a property that meets your expectations while staying within your budget.

4. Make an offer to buy

Once you've found the property that meets your expectations and budget, the next step is to make an offer to purchase. This is a key moment in the property-buying process, as it marks the start of negotiations between you and the seller. Writing an effective, well-argued offer to purchase is essential to increase your chances of success, while complying with legal formalities.

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Drawing up an offer to purchase

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The offer to purchase is a written document in which you indicate your intention to buy the property at a given price. It must be carefully drafted to avoid any ambiguity or misunderstanding. The offer to purchase must clearly state your identity, the address and description of the property, the proposed price, as well as the specific conditions of purchase (for example, obtaining a mortgage).

It's also important to include a validity period for your offer, generally five to ten days. During this period, the seller can accept, refuse or make a counter-offer. The offer to purchase a property can be written in the form of a letter or a formal document, and must be signed by the buyer. If the offer is accepted by the seller, it constitutes a moral commitment between the two parties. However, it does not have the same legal value as a compromis de vente, and does not yet commit you definitively.

In fact, once you have signed a preliminary sales agreement (promesse or compromis), you will have 10 days in which to consider whether or not to cancel the sale. Provided you are a private individual purchasing a residential property.

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TIP: to make your offer more attractive and reassuring for the real estate agent and sellers, you can add a few words to describe what you like about the apartment you'd like to buy. We strongly advise you to enclose your financing plan (pre-approval from your bank or mortgage broker). This will reassure sellers and prove your seriousness.

Negotiating the price with the seller

Negotiating the price is a delicate but crucial stage. While some sellers are firm on their price, many are open to negotiation, especially if the property has been on the market for some time or if work is required. Before proposing a price, it's advisable to carefully analyze the local real estate market and ensure that your offer is consistent with the prices charged for similar properties in the same neighborhood.

To support your offer during the property negotiation, you can highlight objective factors such as the condition of the property, any renovations required, and the results of property surveys. If the asking price is really higher than your budget or the market price, don't hesitate to enter into a discussion with the seller or his agent to explain your position and propose a reasonable amount.

When negotiating, it's important to remain courteous and respectful. Show that you are a serious and motivated buyer. Sometimes, aspects other than the price can be negotiated, such as the signing date, conditions of sale (for example, leaving certain equipment or furniture) or deferred enjoyment.

Making an offer to purchase requires careful preparation and a well thought-out negotiation strategy. By drafting a clear offer to purchase and being ready to discuss the price constructively, you maximize your chances of concluding a transaction that suits both you and the seller.

5. Sign the promise to sell

The signing of the “promesse de vente” (or “avant-contrat”) marks an important stage in the property-buying process. This document commits both parties - the seller and the buyer - to concluding the sale, subject to certain conditions. The promesse de vente establishes the basis of the agreement and sets out the essential terms of the transaction, providing legal certainty for both parties.

Explanation of the promesse de vente and its clauses

A promesse de vente is a document by which the seller undertakes to sell his property to the buyer at a specified price, and the buyer, for his part, expresses his intention to acquire the property. This commitment is not definitive, however, as it is subject to a number of specific clauses. The promesse de vente specifies the key elements of the transaction: the sale price, the description of the property, the deadline for signing the final deed of sale, and the various conditions precedent (for example, the buyer's obtaining a mortgage).

Once the “promesse de vente” has been signed, the buyer generally pays the seller a deposit of 5% of the sale price. This deposit, often referred to as an “indemnité d'immobilisation”, serves as a guarantee of the buyer's good faith. It is deducted from the total amount when the final deed of sale is signed. If the sale does not go ahead for reasons set out in the suspensive conditions, this deposit is returned to the buyer. On the other hand, if the buyer withdraws from the sale without a valid reason, this sum may be forfeited.

Withdrawal period and suspensive conditions

Once the promesse de vente has been signed, the buyer has a statutory 10-day cooling-off period. During this period, the buyer can withdraw from the sale without having to justify his decision, and without incurring any penalties. If the buyer wishes to cancel the promesse de vente, he must notify the seller of his decision by registered letter with acknowledgement of receipt before the end of this period. This withdrawal period is a way of protecting the buyer, by giving him or her time to think things over in complete peace of mind.

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The promesse de vente also includes suspensive conditions, which are clauses that can render the sale null and void if certain events do not occur. The most common condition precedent is that of obtaining a loan: if the buyer fails to obtain financing from the bank within a specified period (usually 60 days), the sale is cancelled and the deposit returned. Other conditions precedent exist, such as the absence of pre-emption by the local council.

By signing the promesse de vente, the parties are making a serious commitment to the property purchase process, while providing each other with guarantees and protection against unforeseen circumstances. It is therefore essential to fully understand each clause, and to ensure that all the conditions required to complete the transaction are clearly established. Before signing, don't hesitate to ask your notary for advice to ensure that your interests are fully protected.

6. Obtaining financing for your property purchase

Once the promise to sell has been signed, the next step is crucial: obtaining the necessary financing to complete the purchase. Seeking real estate financing is a process that requires preparation, organization and a certain amount of negotiation to obtain the best loan conditions. It's all about putting together a solid loan file and comparing the different offers available on the market.

Putting together a complete loan file

The first step in obtaining financing is to compile a complete and convincing loan file. This file is intended for the bank or lending institution to assess your solvency and ability to repay the loan. It must contain several key documents, such as :

- Proof of identity (identity card, passport).

- Proof of income: pay slips for the last three months, tax returns and, if applicable, an employment contract if you have an open-ended contract, or balance sheets if you are self-employed.

- Your bank statements for the last three months, to show how well you manage your accounts.

- A statement of existing charges and debts, such as outstanding loans.

- The preliminary contract or promise of sale for the property you wish to buy.

- Your personal contribution: proof of the sums available in savings or other assets.

- Documents relating to loan insurance, such as information on your state of health.

Preparing a complete, well-organized application demonstrates your seriousness and ability to manage your financial project. A well-prepared file will also save time in processing your application and maximize your chances of getting a positive response from the bank.

Compare loan offers and choose the best one

Once you've put together your loan application, you can compare the mortgage offers available on the market. Each bank offers different interest rates and conditions, depending on your borrower profile, loan amount and repayment term. To find the most advantageous offer, you can use online comparators, consult several banks, or use the services of a mortgage broker.

When comparing loan offers, don't just focus on the interest rate (nominal rate). Also take into account the Annual Percentage Rate (APR), which includes all ancillary costs associated with the loan (administration fees, insurance costs, guarantee fees, etc.) and reflects the total cost of borrowing. In addition, pay close attention to the terms of borrower's insurance, early repayment charges and flexible repayment terms (payment modulation, deferment of monthly payments, etc.).

Don't forget to negotiate with banks to obtain more favorable terms. If you're a good customer with a stable financial situation, some banks may be willing to adjust their conditions to attract you. Don't forget to check out the financial assistance available, such as the Prêt à Taux Zéro (PTZ) for first-time buyers.

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Obtaining the best possible financing is a decisive stage in the success of your property purchase. Putting together a solid, well-prepared file, then comparing and negotiating loan offers, will not only enable you to finance your project on the best possible terms, but also allow you to embark on this new stage of your homeowner's life with peace of mind.

7. Take care of the administrative formalities

Before finalizing the purchase of a property, it's essential to take a number of administrative steps to ensure that the property you wish to acquire is in good condition and complies with legal standards. These steps also enable us to check that there are no problems of any kind, including legal ones, which could complicate the transaction in the future. This stage includes reading the mandatory technical diagnostics and checking co-ownership documents (if the property is located in a condominium).

Mandatory diagnostics (DPE, lead, asbestos, etc.)

In France, all sellers are required to provide the buyer with a dossier de diagnostics techniques (DDT) before signing the promise to sell. This file contains a number of mandatory diagnostics to assess the general condition of the property and its installations:

Energy Performance Diagnostic (DPE)

The DPE indicates the property's energy consumption and its impact on greenhouse gas emissions. The DPE is represented by a label ranging from A (very economical) to G (very energy-intensive). It can be used to estimate future energy costs and identify any energy improvement work required.

Since the entry into force of the new regulations on the energy performance of housing, properties rated F or G on the Diagnostic de Performance Énergétique (DPE) have been considered “thermal wasteland” and subject to restrictions on letting.

From 2025, G-rated properties will no longer be available for letting, followed by F-rated properties in 2028 and E-rated properties in 2034. For landlords, this means the need to carry out energy improvement work to meet environmental standards in order to continue offering their property for rent. These measures aim to improve the quality of housing and reduce the environmental impact of France's housing stock.

Lead diagnosis (CREP)

Mandatory for properties built before January 1, 1949, this diagnosis is designed to detect the presence of lead in paint, a material that is potentially hazardous to health, especially for children.

Asbestos diagnosis

For properties where the building permit was issued before July 1, 1997. This diagnostic tests for the presence of asbestos in building materials, a product banned because of its carcinogenic effects.

Termite and parasite diagnosis

Indispensable in certain high-risk areas, this diagnosis is designed to identify the presence of termites and other wood parasites likely to weaken the structure of the property.

Gas and electricity diagnosis

Mandatory for domestic gas and electricity installations over 15 years old, to check compliance with current safety standards.

State of risks and pollution (ERP)

Informs the buyer of any natural (floods, earthquakes), mining, technological or pollution risks to which the property may be exposed.

These diagnostics, carried out by certified professionals, are the responsibility of the seller and must be presented to the buyer before signing the preliminary sales agreement. As a buyer, it's important to study these documents carefully in order to assess the condition of the property, identify any defects or risks, and anticipate the cost of any work or renovation required.

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Verification of co-ownership documents (if applicable)

If the property you wish to buy is part of a co-ownership (an apartment, for example), it's important to check all documents relating to the management of this co-ownership. These include

Co-ownership regulations

This document defines the rules governing the building, the rights and obligations of co-owners, and the distribution of charges among them. It's important to read them carefully to make sure they meet your needs and expectations.

Minutes of general meetings

These are the minutes of co-owners' meetings, and provide a record of decisions taken concerning the management of the building (works, budgets, changes to regulations, etc.), as well as anticipating any future costs or charges.

They also provide a history of the building. Reading them will enable you to check that there are no existing problems in the condominium, such as noise or odor nuisances, recurrent leaks, structural problems, etc.

The descriptive statement of division

Included in the co-ownership regulations, this document breaks down the building into lots (apartments, cellars, parking spaces, etc.) and allocates a share of the common areas to each lot. It's important to ensure that the property you're buying is described in this document.

Building maintenance booklet

This document lists the work already carried out on the building, as well as that planned or to be planned. It provides information on the general condition of the condominium, and enables you to plan for future expenses.

Co-ownership charges

It's essential to know the amount of current condominium charges (maintenance of common areas, heating, elevator, etc.) and to check whether there are any exceptional charges to come (major works, renovations, etc.).

Carrying out these administrative formalities with care is crucial to avoid unpleasant surprises and ensure that the purchase is made in complete transparency. Don't hesitate to ask your notary for advice on checking these documents and helping you make an informed decision.

8. The pre-signing visit before the deed of sale

The pre-signature visit, also known as the “visite de contrôle” or “visite de pré-état des lieux”, takes place just before the signing of the deed of sale at the notary's office. This final visit to the property is a step not to be overlooked, as it enables the buyer to ensure that the property is in the condition agreed at the time of the promise to sell, and that no damage or alterations have been made since the signing of the preliminary contract. It offers a final opportunity to check that everything is in order before irrevocably finalizing the purchase.

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Objectives of the pre-signing visit

The main aim of this visit is to check that the property still corresponds to what was presented during previous visits, and to ensure that all contractual elements have been respected by the vendor. It is important to check that the property has not suffered any further deterioration, that no equipment or installations have been removed or damaged, and that any work agreed has been carried out. For example, if the seller has undertaken to carry out certain repairs or remove furniture prior to the sale, this visit will enable us to check that these commitments have been honored.

Tips for the pre-signing visit

During the pre-signing visit, take the time to go through each room and each piece of equipment, referring to the items mentioned in the promesse de vente or compromis de vente. Make sure that all installations (electricity, plumbing, heating, etc.) are working properly and that all equipment is in good working order. It's a good idea to test windows and doors, check the condition of walls, floors and ceilings, and make sure there's no new damage or mold problems.

Also check that all the items mentioned in the inventory list are present and in order (for example, kitchen equipment or furniture included in the sale). If you notice any defects or anomalies not previously noted, report them immediately to the seller and the notary. These observations may be recorded in writing and incorporated into the deed of sale, or may be the subject of renegotiation, or even a deduction from the sale price if repairs are necessary.

In the event of problems during the pre-signing visit

If the visit reveals problems not previously reported, the buyer has the right to ask for explanations and negotiate a solution with the seller before signing the deed of sale. In this case, we advise you to contact your notary and discuss with him or her how these problems can be resolved.

In short, the pre-signing visit is an essential step in securing your property purchase. It allows you to check the condition of the property one last time before making a final commitment. For the buyer, this visit is a final opportunity to guarantee that all the commitments made in the promise to sell have been respected, and that the purchase will take place under the best possible conditions.

9. Sign the deed of sale at the notary's office

The signing of the deed of sale at the notary's office is the final stage in the property transaction, marking the transfer of ownership of the property from the seller to the buyer. This is a crucial moment, as it seals the final agreement between the two parties and requires meticulous preparation to ensure that all elements comply with legal requirements and that everyone's rights are protected.

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Preparing and reading the deed of sale

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Before signing the deed of sale, the notary plays a central role in checking and preparing the necessary documents. The deed of sale is a legal document that sets out in detail all the conditions of the sale: description of the property, selling price, payment terms, distribution of charges, any easements and legal guarantees. The notary also ensures that all preliminary steps have been taken, such as verifying the existence of pre-emption rights, checking mortgages, or consulting town planning documents.

Before signing, the buyer should take the time to read the deed of sale carefully in the presence of the notary, who is there to explain each clause and answer any questions. It's important to fully understand the implications of each provision, particularly those concerning easements, co-ownership rules and any future charges. Once all parties have understood and accepted the terms of the contract, the deed of sale is signed by the buyer, seller and notary. At this point, the buyer officially becomes the owner of the property, and the transfer of ownership is recorded in the property register.

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Details of notary fees and how they are calculated

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In addition to the purchase price of the property, the buyer must pay notary fees, often referred to as “frais d'acquisition”. These fees, which are payable by the buyer, cover both the notary's remuneration (known as emoluments) and the various taxes and duties owed to the State. In France, notary fees for the purchase of an old property generally amount to between 7% and 8% of the sale price, whereas they are reduced to around 2% to 3% for a new property.

Notary fees break down into three main parts:

- transfer duties or registration fees (which account for the majority of fees, around 5% to 6% of the sale price) are paid to the French Treasury and vary according to the location of the property.
- the notary's fees, which correspond to the notary's remuneration for his work in examining the file and drawing up the deed. These fees are calculated in proportion to the price of the property, according to a sliding scale set by decree.
- disbursements, which are sums advanced by the notary on behalf of the buyer to cover various administrative expenses and costs linked to formalities (cadastral extract, registration fees, etc.).

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It is advisable to ask for a detailed estimate of the notary's fees before signing the deed of sale, to avoid any surprises. The notary is required to provide a provisional “note de frais” summarizing all the elements that make up these fees.

Signing the deed of sale at the notary's office is a formal but essential step that guarantees the legal security of the transaction. Thanks to the notary's expertise, all the necessary checks are carried out and the rights of both parties are protected, ensuring a worry-free property purchase.

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10. Move in and finalize the formalities

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Once the deed of sale has been signed and the property is officially in your possession, the final step is to organize your move and finalize all the administrative formalities required to settle into your new home.
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Organizing your move

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The first step is to plan your move efficiently, to avoid any unnecessary stress. Start by drawing up a list of tasks to be carried out: sorting your belongings, packing them, choosing a moving company or renting a truck if you're planning to move yourself. Compare several movers' quotes to choose the one that offers the best value for your needs. It's also advisable to book your move several weeks in advance, especially if you're planning to move during periods of high demand (weekends, school vacations).

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To make your move easier, remember to label your boxes by room and protect fragile objects. Inform your family and friends of your move, and ask them for help if necessary. Finally, don't forget to schedule a cleaning day in your old home, especially if you're leaving a rental where an inventory of fixtures will be carried out on departure.
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Change of address and updating contracts (insurance, energy, etc.)

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Once you've planned your move, it's crucial to notify all the relevant organizations and service providers of your change of address, to avoid any interruption of service or loss of mail. Start by contacting the postal services to have your mail forwarded to your new address. You can also use La Poste's temporary online forwarding service for up to twelve months.

Next, inform your energy suppliers (electricity, gas, water) of your move. It's important to cancel the contracts for your old home and take out new contracts for your new address, taking care to compare offers to get the best rates. Read the water, gas and electricity meters in your old home on the day of your departure, and in your new home on the day of the pre-signature visit, to avoid any misunderstandings about bills.

And don't forget to update your home insurance policies, informing your insurer of your change of address and adjusting cover if necessary to cover the specific features of your new home.

IMPORTANT: you must take out your home insurance just before signing the deed of sale.

You'll also need to notify your change of address to various administrative bodies, such as your employer, bank, mutual insurance company, social security and tax authorities. You can simplify this process by using the online change of address service on the government website, which allows you to notify several organizations at once.

By finalizing these steps and organizing your move carefully, you can ensure a smooth, stress-free transition to your new home. Anticipating these steps allows you to start this new phase of your life with peace of mind, enjoying your new home to the full.

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Preparing for your property purchase: the importance of each stage

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Buying real estate is an important step, and one that requires thorough preparation and knowledge of every stage of the process. From defining your purchasing project to moving in, each phase has its own importance and plays a key role in avoiding mistakes and unpleasant surprises. By following these 10 steps, you put all the chances on your side to make your purchase a success, avoiding common pitfalls and ensuring that your investment is secure.

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It's essential to be well informed, and not to hesitate to call on professionals such as property hunters, real estate agents, financial advisors, notaries or credit brokers. These experts can accompany you every step of the way, providing personalized advice and helping you make the best decisions for your needs and situation. By surrounding yourself with the right people, you can realize your real estate project with confidence and peace of mind.

Learn more:

• Off Market in Paris: what reality ?
• Buying with a real estate hunter in 8 steps

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