A new build off plan property is known as a “Vente en l’Etat de Futur d’Achèvement “ or VEFA in French.
This transaction is regulated by law to protect the committed buyer [...]
The Banque de France just announced an increase in the usury rates applicable on October 1st.
These usury rates are intended to protect individuals from abusive borrowing conditions for different types of financing [...]
“Promesse de Vente” (aka « Preliminary Contract ») or “Compromis de Vente” (aka « Sales Agreement »)
Two contracts with different consequences for the buyer and the seller.
A Preliminary Contract (Promesse De Vente) and a Sales Agreement (Compromis De Vente) are legal documents with very precise obligations for both parties and very specific conditions.A PROMESSE DE VENTE (Preliminary Contract)
The Usury Rate (aka “Taux d’Usure” in French) was implemented to protect borrowers against excessive mortgage rates [...]
French lenders don’t carry out credit checks on applicants but they base the approval process on your financial situation and indebtment rate. Pragmatism and transparency are key to assess risk in France.
You must pass strict [...]