The market place for bare ownership property is still confidential and with only 1000 units per year on offer in France, it is a niche market. The demand for this type of investment property is much higher than the offer so only focused and well prepared investors will secured an unit.
Here’s the 4 steps necessary to successfully purchasing a bare ownership property.
1 – BACKGROUND PREPARATION
- To establish your requirements : budget, type of property, location
- To decide upon your objectives for this investment
- To set a time frame for the acquisition
This is an important stage in the purchase process, as with this information we will be able to inform you in advance of upcoming properties before it is officially launched. At that stage, you will be able to declare your interest for a property and we will be able to place you in a reservation list so when the development is launched you are already in the option system. Please keep in mind that each unit can have 7 option ranks, we aim to place our clients in a first, second or third position, allowing them to have a good chance to get one the unit on offer.
2 – RESERVATION PROCESS
- Options are valid for 48h
- Confirmation of the option by completing and returning the reservation form
- All reservation contracts sent to you for signature
- Reservation contracts countersigned by the developer and send to you
- Cooling off period 7 days
- Deposit transfer to the notary
3 – FINANCING
You will need to have your funds ready to be transferred to the notary when requested.
4 – DEED OF SALE
- Notification of the deed of sale signature
- Either you are coming to France to sign or you are doing it by Power of Attorney
- Transfer of the fund and signature