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paying for property purchase in Nice

Posted by Nice2004 - Created: 13 years ago
0 0

Hello,

We live in the UK and are in the process of buying an apartment in Nice. We are supposed to sign the "acte" at the end of the month (although it might be delayed...) and we have the money sitting in our Societe Generale account in Paris.

I'd like some advice on how to pay the final amount for the house + notaires fees. I know we can do it by bank transfer or bankers draft, but I wanted to know how long french banks normally take to do this? If we visit the bank the day before signing the acte will they be able to transfer the money to the Notaire for the next day, or give us a bankers draft the next day?

Also does it make any difference that our account is held at a branch in Paris as opposed to Nice?

Any advice gratefully received! Thanks

Nice2004

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4 replies (Showing replies: 1 to 4)

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Posted by dublinmike-182617 - 13 years ago

the thing to do here is transfer your money including all fees to the notaires bank account, they have a special one for all this.On the day you sign, the notaire will need that money available to carry out the transfer properly, the only way he/she knows this is to have in to hand.A few months later you will no doubt receive a cheque for and interest and the balance, there usually is a balance due to rounding up of taxes at the estimation stage, and a small fund to cover last minute hitches.if you need an english speaking notaire recommendation drop me a mail.

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Posted by meagherp - 13 years ago

Only problem I had was the notaire would not accept a non french bank transfer or draft. even from Barclays Paris branch. Had to be a french bank, so you're OK. My notaire refund chq took 6 months.Peter

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Posted by Mogli-193933 - 13 years ago

Hi

Regarding final payment, I'm not sure, since you seem to be paying cash.

Normally, if you buy with a mortgage, the bank sends some info to the Notaire in advance of the big day. Then, after signing the Acte de Vente, the notaire contacts your bank and confirms that the transfer should go ahead.

The fact that your account is in Paris, rather than Nice, shouldn't make any difference.

Regarding Notaire payment (Frais de Notaire), this will be deducted from the deposit you gave over when you signed the Compromis de Vente. I guess it was in the region of 5-10% of the apartment price?

The Frais de Notaire is usually around 6-9% of the price, depending on the value of your property.

After around a month you will receive a cheque for your re-imbursement, or a request for a top-up. This won't come as a surprise though - you can raise it with the notaire at the time of signing.

Hope that helps..

 

 

 

 

Those are my principles, and if you don't like them... well, I have others. (Groucho Marx)

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Posted by Nice2004 - 13 years ago

Sorry! My message seems to have gone through twice!

Nice 2004