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How to buy property off plan through Franska Hus – FH Propriétés

There are many companies in the French real estate business which offer their clients the possibility to buy property off plan. This means that you will be the owner of something that only exists on paper in the beginning. This is a massive leap into the unknown for many people, particularly when you are purchasing a property abroad. This is why we have made a short description, explaining how this works:

In France it is very common to buy property off plan and it's in fact one of the safest way to buy property in France. The building companies often commercialise their projects way before the construction starts since the banks often require a certain amount of reservations before they can start building.

The different building companies that Franska Hus – FH Propriétés is working with are dedicated and they all have the necessary guarantees. 

Should the Promotor go bankrupt, the bank will step in and complete the building project.

If the deadline is not respected the builder might have to pay a fine to the buyer. Before signing always make sure to have the correct information from the promotor. In some contracts this clause is defined but it's not always the case.

If the building company cannot give the bank and the French government all the guarantees needed the building project will simply not happen.

There are a few benefits in buying a property off plan. One of them is that the solicitor fee (Notaire) is reduced compared to buying an existing property. For off plan purchases the notary fee amounts to 2,5-3,5% of the total purchase price (instead of 8-10% for a property older than 5 years).

Short description on how to buy an off plan house or apartment:

It is important to have financing defined from the beginning when signing the preliminary contract. Financing should be stated in this contract (e.g. loan in France or abroad). At the same time as signing the preliminary contract a 5% reservation fee is to be paid (see instalment plan here below).

After your 10 days cooling off period all documents are handed over to the solicitor (Notaire).

The solicitor will establish the final purchasing contract which is signed at the solicitor's office or by power of attorney from the buyer. At this moment the notary fee is paid. As he construction works proceed the notary will follow up on the payment plan until the day the buyer gets the key. 

The payment plan is most often divided into 8 to 10 instalments.

An payment plan of 8 instalments can look like this – however, differences between the different companies do occur. 

  • 5% Reservation
  • 25% Building start
  • 5% Foundation laid
  • 30% Floor structure in place
  • 5% Roof laid
  • 20% Carpentry finished
  • 5% Construction finished
  • 5% Handover of keys

The exact time schedule for the instalment plan is defined once the construction work has started.

Franska Hus – FH Propriétés assists their clients through the entire process until the day of handing over the keys. 

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