The key to a smooth property transaction is the company you keep
Traditionally, when considering buying or selling real estate, you are surrounded by a real estate agent to find and advertise the property, and a notary for the conveyancing.
But did you know that hiring a lawyer to help you through the process can save you money, and more importantly, years of stress?
Property transactions in France are very different from the UK in terms of what the seller or buyer needs to do. Therefore, approaching the French process as you would in the UK can lead to many problems with serious economic consequences.
It’s said that the devil is in the detail, and this is especially true when selling property in France. A deed of sale and its annexes can contain hundreds of pages of information. For better or worse, under French law both parties are bound by the terms of the deed. But do you really know what the document and its annexes are all about? Do you know everything you need to declare or inquire about?
Unlike lawyers, notaries and estate agents do not handle litigation and therefore do not have the experience to adequately advise on the real implications of each clause.
Our professionnel calling means that when something goes wrong, we are hired by one of the parties to legally unravel the issue. This problem-solving role gives us a unique viewpoint; an advantage that you can hire as a buyer or a seller to avoid – rather than fix – contentious issues.
Hiring a lawyer who specialises in real estate transactions ensures that the terms of the contract are fully considered and understood, and that any information required to be disclosed is properly notified.
Any lawyer will tell you that it is best to spend time and money to get things right during the deal, rather than face the consequences later.
In fact, spending money on legal fees before a sale is nothing compared to what you would have to spend on litigation if things go wrong. Not only do you have to pay legal fees to defend your case, but you may also have to pay bailiffs’ and legal experts’ fees. If you lose the lawsuit, you will also pay compensation to the other party. Even if you win the case, courts will not always award the full cost of fixing the contentious issue, and never award the full amount of the legal fees you’ll have paid.
The intervention of a lawyer between the estate agent and the notaire can save you thousands of euros and years of litigation after the transaction.