Thursday, April 17, 2014

Cooling off

The process of buying property in France is really very civilized and all the components seem to make sense. Unlike in Italy, where there was money given "in the black" (under the table) to avoid certain taxes, frantic phone calls to come to the office "right now," midnight signings of documents,  money wired directly to the bank account of the seller, rather than to an escrow account, then all sorts of drama surrounding the closing, which took nearly four hours. Sheesh! Looking back on the experience gives me goose bumps.

With the exception of having to sign or initial some 60 pages of contract, and the $90 it cost me to send the documents to France by UPS, the French process has been very easy so far. In it there is even a "cooling off period" of seven days, which for me will begin the day after I receive the signed contract package from the notaire by registered mail, sometime in the next few days.  During this official block of time either the buyer or the seller of the house can change their mind without any penalties. All I would have to do is write a note to the Notaire saying I have changed my mind. I don't even have to give a reason. 

So, I am waiting for my package and my fingers are crossed that the sellers do not decide to keep their charming, adorable little clocktower cottage while they are "cooling off" too.

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