A few months ago, I guided an American client through the purchase of an exceptional property not far from Bordeaux, in Saint-Émilion. Like many international buyers, he was discovering a system very different from the one in the United States, and after signing his offer to purchase, he asked me the question I hear so often — whether from American, Belgian, or of course French clients: “And now, how does it all work?”

Here, step by step, is what happens between signing your offer and collecting the keys.

Step 1: signing the offer to purchase

This is the starting point of your project. But beware of an important and often overlooked asymmetry: an offer to purchase commits the seller above all. The moment they accept it, there is no going back. The buyer, on the other hand, is only truly committed once the preliminary sale agreement (the compromis or promesse de vente) is signed before the notary.

A little piece of advice I always give my buyer clients: don’t sign an offer “just to see.” You should be reasonably sure of your choice before committing, even though there is still a way out at this stage.

Between signing the offer and signing the preliminary agreement, you should generally allow around a month, the time the notary needs to gather the documents required to draw up the deed. This is also when we check that the diagnostic reports are still up to date: some have a short period of validity (the termite report, for instance, is only valid for six months).

Step 2: the preliminary sale agreement before the notary

This is where things really take shape. Once the preliminary agreement is signed, a 10-day cooling-off period begins for the buyer.

A few essential points about this period:

  • It does not start on the day of signing, but on the day after the official notification of the deed.
  • During these 10 days, the buyer may withdraw without having to give any reason.
  • This right applies only to private individuals. If you buy through a company (an SCI, for example), you are committed as soon as the preliminary agreement is signed, with no cooling-off period.
  • The seller never has this right: once the offer is accepted, they are committed.

Once the 10-day period has passed, the buyer in turn is fully committed — subject to the conditions precedent set out in the preliminary agreement (obtaining a loan, etc.). Should they wish to withdraw after this period without legitimate grounds, they risk having to pay the seller compensation, known as the penalty clause, often in the region of 5 to 10% of the sale price.

Step 3: the wait until the final deed

Once the preliminary agreement is signed and the cooling-off period has passed, you should generally allow two to three months before signing the final deed before the notary. What usually takes the most time is the right of pre-emption: certain authorities (most often the town hall, sometimes the SAFER in agricultural areas) have a legal period, generally two months, to decide whether they wish to acquire the property as a priority.

Step 4: the final signing and the handover of keys

Once all the conditions have been met, the big day finally arrives: the signing of the authenticated deed before the notary, followed by the handover of the keys. This is the moment the property officially changes hands.

Whether you are buying your first property in France or you are a seasoned investor, this journey may seem long from the outside — but every step has its purpose, and protects buyer and seller alike. Do feel free to get in touch if you have any questions about your property project in our region.