Buying real estate is a very important process that can get complicated if you don’t know the steps to follow. Even if you have the will to find the perfect property, you may need the services of professionals such as a real estate agency and a notary for the formalities.
1 st step : Looking for the right property
There are several ways to search for a property today. Viewing advertisements in newspapers or online, professional websites, through a real estate agency or even word-of-mouth, etc.
Then it is important to identify the type of property that will best meet your expectations. Several factors must be taken into consideration such as:
- The different types of real estate on the market
- The price/Budget
- The location
- The Environment
- Facilities and shops nearby
2nd step : Hire a professional real estate agency
If you want to make a safe real estate transaction, it is highly advisable to hire a real estate agency. Indeed, the services of an agency will be beneficial to you because it will act as a key intermediary during your procedures. His main task is to assess the property for sale at its true price. The agency will also assist you during the negotiation and the purchase procedure. Given their experience, real estate agencies will guide you so that you can make the right choice. It is from these precious tips that you will be able to make up your mind.
3rd step : The documentations
Once the ideal property has been chosen, it is essential to check with your real estate agency that all the documents are in order. Make sure that the description of the property matches the advertisement. You also need to check the seller’s title deed. Possession of such a document means that the seller is indeed the owner and is entitled to sell his property to you. An agency will take care of verifying all this information beforehand in order to avoid these little hassles.
4th step : Expenses to be expected during a real estate purchase
The costs to be expected when buying real estate are: registration fees currently set at 5% (free in some cases for a first purchase), notary fees established according to a specific scale and registration fees. agency amounting to 2% plus 15% VAT on these 2%. In some real estate projects, all of these costs are often already included in the developer selling price, or at least the agency fees, and notary fees are sometimes set at a fixed rate of 1% plus VAT.
When buying real estate in a project (a morcellement for example) via a real estate agency will not therefore generate an additional charge for the purchaser since it is the developer who in most cases pays the intermediary agency.
5th step : The provisional sale agreement in real estate
When the seller and the buyer have reached an agreement on the sale, they can sign a promise to sell before signing the final deed of sale. This document is not obligatory, but it is recommended to express the mutual agreement of the seller and the buyer. It determines the precise conditions under which the sale of housing will take place. Generally a contribution of 25% of the total amount of the property is requested during this signature. The amount of the initial contribution and other payment terms may be different and flexible, depending on the terms of the sales contract.
