Buying Property in Paris

01

01 · Finding & Choosing Your Agent

USIn the U.S.

• Buyer’s agent works only for you
• Searches a shared MLS
• Commission split with seller’s agent: no direct cost to you

FRIn France

• Listings traditionally held by one agency; shared listings now growing
• Your own property finder (chasseur d’appartement): you sign an exclusive search mandate (mandat de recherche), and your agent works only for you: on- and off-market search, visits, due diligence and negotiation. The fee is 3% of the purchase price, and nothing is due until the final deed is signed.
• Or, an inter-agency selection: properties shared between agencies, where the commission is split, at no added cost to you

“Say an apartment is listed at €1.5 million. Once we’ve done the due diligence and know the market, we can often negotiate around 3% or more off the price. It’s never guaranteed, but when it happens, a dedicated agent costs you almost nothing extra. So I tell clients to expect to pay close to the asking price, with their own agent and our whole network included.”

N.B. If you’ve already started your search and given your criteria to other agencies, we won’t be able to share commission with those agencies.

02

02 · Finding & Evaluating the Property

USIn the U.S.

• Agent pulls comps
• Buyer tours, then an inspection contingency later in the process

FRIn France

• Full building file requested upfront: co-ownership minutes, reserve fund, past works
• Diagnostics report reviewed (energy, lead, asbestos, etc.)
• With recent comparable sales, we build our own price study, so we know where to position your offer before you bid

“We price the offer knowing exactly what’s really been happening in that building, not just what’s on paper.”

03

03 · The Offer & Proof of Funds

USIn the U.S.

• Offer often still negotiable on both sides
• Financing contingencies common
• Earnest money typically modest

FRIn France

• Accepted offer is hard for the seller to retract
• Low risk for you, high risk for the seller
• Proof of funds required: France monitors for money laundering

“Once a French seller accepts your offer, they can’t easily walk away — that’s the opposite of how it feels back home.”

04

04 · The Preliminary Sales Agreement

USIn the U.S.

• Purchase agreement with contingencies
• Earnest money, then an inspection period

FRIn France

• Compromis de vente, negotiated by both notaires
• Fully transparent, so there are no surprises later: price, conditions, diagnostics and building documents are all agreed here. Only the notaire’s final checks and the final accounts (taxes, split of charges) are left for the deed
• 5–10% deposit due at signing
• 10-day cooling-off period, then the deposit is forfeited if you withdraw

“After the ten-day cooling-off period, you start carrying real risk right alongside the seller.”

05

05 · The Final Signing

USIn the U.S.

• Closing walkthrough, then a single closing day

FRIn France

• Choice of two signings (compromis, then acte de vente weeks later) or one combined signing
• A final walkthrough a few days before (visite de conformité): the apartment is usually empty by now, so we check nothing has been damaged, photograph the meters and move electricity and gas into your name
• Final step reviews the same documents, plus accounting: quarterly charges, property tax, refunds

“If you’re sure about the property, doing it all in one signing saves a trip and adds very little risk.”

P.S. Then we open the champagne. In Paris, it would be rude not to.

French term	Closest US equivalent	What it means here
Notaire	Closing attorney / escrow officer	Neutral, state-appointed official who authenticates the sale. You’re entitled to your own, at no added cost.
Compromis de vente	Purchase & sale agreement	The binding preliminary contract; starts the 10-day cooling-off period.
Chasseur d’appartement	Buyer’s agent	A licensed agent who works only for the buyer, under a written search mandate (mandat de recherche). Paid only once the purchase completes.
Délai de rétractation	Cooling-off period	10 calendar days after signing the compromis during which you may withdraw freely.
Acte de vente	Deed / closing document	The final deed, signed in person (or by proxy) at the notaire’s office.
Visite de conformité	Final walkthrough	A last visit a few days before the deed, to check the property’s condition and read the meters.
Syndic	HOA / management company	Manages the shared building; sets and collects co-ownership charges.
Taxe foncière	Property tax	Annual property tax, billed once a year, generally in the fall.
Multirisque habitation	Homeowners insurance	Insurance for the unit itself, separate from the building’s master policy.
FATCA	US reporting law	Requires French banks to report American account holders to the IRS. That’s why some banks are slower to onboard US clients.

1. Currency exchange

   Lock in a USD → EUR rate early with a specialist, rather than leaving it to your bank the day funds are due.

   Talk to our currency specialist→

2. French bank account

   Not always urgent, but simplifies paying fees and charges. Expect extra paperwork as an American, due to FATCA reporting.

3. Financing

   If using a mortgage, French banks want an offer in hand before final signing, so plan for extra weeks versus a US closing timeline.

   Talk to our mortgage specialist→

4. Home insurance

   Your own multirisque habitation policy, separate from the building’s master policy, should be in place at or just before signing.

   Talk to our insurance specialist→

5. After signing

   Set up utilities, register with the syndic, and expect an annual property tax bill (taxe foncière) each fall.

• Notaire fees (frais de notaire)

  Around 7–8% of the price for an older property, and about 2–3% for a new build. Most of it is transfer tax paid to the state and the city; the notaire’s own fee is a small, regulated part.

• Agency fees

  Set out in writing in the mandate before any search or visit. In an advertised listing, the price shows whether fees are included and who pays them.

• Co-ownership charges

  Paid quarterly to the syndic for the building’s upkeep, staff and insurance. Ask for the last three years of accounts before you offer.

• Property tax & insurance

  Taxe foncière once a year, plus your own home insurance. Both continue whether or not you live there.

• Whose name goes on the deed

  Buying in your own name, jointly, or through a French property company (SCI) changes how the property is taxed and passed on. Decide before you sign.

• Wealth tax on property (IFI)

  If your net real estate in France is worth more than €1.3 million on 1 January, you owe the annual IFI, even as a non-resident. Property outside France isn’t counted.

• Rental income

  Rent from a Paris property is taxed in France first. The US–France tax treaty is there to stop you paying twice, so your French and US accountants should talk to each other.

• Short-term letting

  In Paris, a main residence can be let to tourists for 90 nights a year at most, with a registration number. A second home or pied-à-terre needs a change-of-use authorisation, which is rarely practical. Furnished lets of a year or more are the usual route.

• Energy rating (DPE)

  Homes rated G can no longer be newly let, and F-rated homes follow from 2028. If you plan to rent, check the rating before you offer.

• Inheritance

  French succession rules can apply to property in France, whatever your will says at home. Worth a conversation before you choose how to hold title.

Talk to our tax specialist→

Last reviewed November 2026. Rules and rates change; check with your notaire and advisers before relying on any figure.