What are the 10 steps of buying a property?
We detail all the phases of the project to best support you!
Define your budget
Before you even start your real estate search, you must carry out a mortgage simulation with a broker or credit organization. You will thus know your borrowing capacity and you will be in a position to estimate your budget for the purchase of your property. Note that your debt ratio must not exceed 35% of your monthly income for your credit application to be accepted by a bank.
Refine your search criteria
What are your needs and desires? Brightness, office space for teleworking, furnished or renovated housing, minimum surface area, balcony, parking space, elevator, proximity to transport, number of rooms, schools in the neighborhood: these are all essential criteria that make it possible to effectively target the properties to be visited. However, be flexible so as not to close yourself to rare and interesting goods.
Search for the property of your dreams
The third step in buying real estate is to sort through the ads and visit the properties that interest you. This is the most time-consuming phase of a real estate acquisition since you must be constantly on the alert and travel for each visit. It remains a privileged moment of exchange between the seller and potential buyers and a way to gather a lot of information. However, if you use a real estate hunter, you can delegate this part to him.
Make an offer to buy
If you have fallen in love with a property, make an offer to buy quickly with the seller after the visit. You must fill in your contact details, those of the seller, the address of the property as well as its description, your financing conditions and the purchase price on which you are positioning yourself. You can also add a validity period to the purchase offer (period during which the seller can accept or reject the offer, or make a counter offer). Do not hesitate to reassure him by attaching your bank's financing simulation and/or a cover letter.
Call on a good notary
Good news, the purchase offer is accepted by the seller. The next step in buying a property is to find the best notary to draft the sales agreement and the authentic instrument. Ask your loved ones, or have the seller's notary accompany you since the costs will be the same in both cases.
Sign the sales agreement
The sales agreement (also called promise of sale) is a preliminary contract to be signed at the notary or in a real estate agency. This document mentions the terms and conditions of the sale between the buyer and the seller. For this stage of buying real estate, you have 10 days to withdraw, all free of charge and without having to justify yourself. After this period, a penalty may be requested.
Secure your real estate purchase
If you are buying a condominium, use this time to read the regulations, the last 3 minutes of the General Assembly, real estate diagnoses, utility calls, etc. To buy a detached house, take the time to study the mandatory diagnoses, but also to contact the city's urban planning department.
Negotiate your financing
Once the sales agreement is signed, you have 60 days to get the best mortgage offer. Involve the competition, prepare your file correctly with all the mandatory supporting documents and negotiate the most attractive conditions. Once the mortgage offer is signed and returned, all you have to do is wait for the notary!
Proceed to the signing of the authentic act at the notary
You will finally become an owner and receive your keys! The penultimate stage of a real estate purchase, the signing of the authentic act takes place within 3 months following the signing of the sales agreement. On D-day, you will have to pay the notary's fees and pay the purchase price of the property.
Move in or rent
You are officially the new owner of the apartment or house. You can start any work, organize your move in or rent out as part of a rental investment.
You now know all the steps of a real estate purchase! If you want to find the rare pearl in Paris and delegate some of the phases mentioned above to a real estate hunter, contact our experts Tell me about Paris and explain your needs to them.
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After several months of research (in a very targeted neighborhood), I decided to call on Parlez moi de Paris to get out of this spiral of visits that were not successful. An investment that proved to be very effective since I made an offer at the end of the 5th visit.
Great experience with Parlez moi de Paris. Patrick is a professional who accompanies his clients very well in the search for their future place to live. Very attentive, he creates a favourable environment that encourages exchanges with the various stakeholders.
We have established a partnership with Parlez moi de Paris for all the acquisition searches in Paris of our clients that we cannot support. I guarantee the seriousness, the sympathy and the expertise of Patrick and his teams. The research mission is carried out with efficiency and kindness. I recommend.
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