| In March 2005 we arranged to view the property | | | | envelope arriving with a huge metal key inside it - the |
| located in the farming hamlet of Moulin in Peisey | | | | door to the barn - the key to our dream. |
| Nancroix Les Arcs. It was one of those dejavu | | | | This is what we purchased - a 4 bedroom house |
| moments as we walked down the high street (only | | | | (called habitable space) and a barn that was up the |
| just wide enough for a car) and saw "Le Passeu" as | | | | back of the building and ran across the top floor |
| the property was known. | | | | (called uninhabitable space). There were also 2 caves |
| There it was - a beautiful old house and barn with a | | | | and a cellar. The building was a traditionally built stone |
| private courtyard - desperately in need of some | | | | house with a wooden and tin roof. The caves where |
| tender loving care and restoration. We fell in love | | | | the animals were kept had earth floors and there are |
| with it straight away but it was way outside of our | | | | no "foundations" so as to speak. The whole building is |
| price range. | | | | held in place by an ancient structure which had to |
| But "where there is a will there is a way" and after | | | | stay in place throughout the whole renovation. The |
| negotiations with the owners we signed the first | | | | configuration of the renovation had to take this |
| documents which would lead to our dream becoming | | | | central fabric of the building into consideration. |
| reality. | | | | Strange but true! |
| It is these documents which you really have to | | | | The habitable house consisted of 4 bedrooms, one |
| understand because the process in France is very | | | | shower room, a kitchen, workshop and "utility" area, |
| different to the UK. This is how the system works. | | | | lounge/dining room and a separate toilet. |
| First of all the vendor and the buyer have to agree | | | | This was to be our home in France until 2007 when |
| on the price and any special clauses (clauses | | | | we finally got planning permission to turn our dream |
| suspensives) to be included e.g. furniture and fittings. | | | | into reality. |
| Next the preliminary sales contract (compromis de | | | | During the next 18 months we went through the |
| vente) is drawn up by the agent or a notaire. This is | | | | process of obtaining planning permission - another |
| then signed by both parties. The buyer must at this | | | | story. We did eventually get it and work started in |
| stage pay a deposit which is usually 5-10% of the | | | | April 2007 with a plan in place to complete the works |
| purchase price. This is paid to the notaire who holds | | | | by October 2007. There were many highs and lows |
| the monies during a period of 7 days (a cooling off | | | | during that time but life is like that. If your dream is |
| period). During the cooling off period the buyer can | | | | strong it carries you through. |
| withdraw but the vendor cannot. After this time the | | | | We are often asked why we didn't submit our |
| contract is legally binding. If the buyer pulls out after | | | | "project" to Grand Designs - we did but we were |
| this stage then they forfeit the deposit. | | | | assured that it wasn't likely to be of great interest |
| If like we did, you are going to buy the property | | | | since it looked to be a "simple" renovation. Little did |
| with a mortgage it is very important to include this in | | | | they know!! They would have had a field day with |
| the preliminary contract because it does allow you to | | | | our "little" project. |
| withdraw from the sale should your mortgage | | | | We went through a steep learning curve during our |
| application be turned down. Obtaining a mortgage in | | | | renovation adventure but were lucky enough to have |
| France is not an easy process as all income has to be | | | | some great friends to help us - even moving in and |
| proven which means that you must complete a | | | | supervising the renovation when we were unable to |
| dossier of information for the bank about your own | | | | get out there ourselves. |
| finances as well as details of your project if the | | | | We now rent the chalet out to a locally based ski |
| funds are required for a renovation as well such as | | | | chalet holiday company and are lucky enough to have |
| ours were. | | | | our own apartment in the chalet exclusively for us so |
| Renovating in the Savoie meant that we needed to | | | | all the hard work was worthwhile and we did achieve |
| find a bank that understood the area and we were | | | | our dream. |
| extremely lucky to find Credit Agricole who specialise | | | | So what did we learn through this process that would |
| in the area and understand the concept of chalet | | | | be helpful to you in your French house purchase? |
| renovations. Our Bank Manager became a firm friend | | | | It is very important to deal with a properly registered |
| during the whole process - he spoke in English to us | | | | agent who holds a carte professionnelle - without this |
| and we spoke in French to him. He even used to go | | | | document an agent does not have the right to sell a |
| along to our property and check on the progress. | | | | property or take clients to view properties. |
| So now you have your mortgage in place and the | | | | If you are buying an older property get a structural |
| handling of the conveyancing is handled by the | | | | survey done (rare in France) and get some outline |
| Notaire. It typically takes about two to three months | | | | quotes for any works from an architect or builder. Do |
| and when all the paperwork is ready the Notaire will | | | | this before committing to the purchase. |
| confirm the date and time of the signing of the acte | | | | As the Notaire represents both the vendor and the |
| de vente. | | | | buyer it is very important to make sure that all |
| Meanwhile the buyer transfers the balance of the | | | | clauses that need to be included are. Don't sign |
| payment to the Notaire prior to completion (via the | | | | anything you don't understand. |
| bank if you have taken out a mortgage). On the day | | | | Take advice on French Inheritance Law. |
| of completion (I can still remember that day) the | | | | View the property on the day of completion - it has |
| parties meet the Notaire to sign the contract. We | | | | been known for vendors to remove items you |
| couldn't go due to work commitments and our | | | | thought you were buying! |
| completion was handled with a power of attorney | | | | If your French speaking skills are not up to scratch |
| (that's another story in itself). Once signed the | | | | get an interpreter. This is the most valuable advice |
| notaire hands over the keys and an attestation de | | | | we can give you. |
| vente. The final papers arrive about six months after | | | | We are always happy to share our experiences and |
| that. | | | | help others to achieve their dream because as |
| As we were not at the signing ourselves the keys | | | | Richard Branson once said "You only have one life - |
| were sent to us in the UK. I can still picture the | | | | live it! |