What are the 8 key steps in a property purchase?
Buying a property can seem like a long and daunting process at first. But with the right guidance from experts, a bit of knowledge, and good organization, each step of the home-buying journey can be a smooth—and even enjoyable—experience, especially if it’s your first time! In this article, we walk you through the key stages of purchasing a property—from defining your project and signing the final deed of sale, all the way to planning renovation work. Follow the guide.
Define your property project and assess your borrowing capacity
"61% of renters see homeownership as a long-term goal."
Procivis 2024 Barometer
Are you a first-time buyer preparing to purchase your first home? Already a homeowner looking to invest in a rental property? Or perhaps your family is growing and you’re planning to sell your current home to buy a new one?
Whatever your situation, buying a house or an apartment is a major life decision—one that can have a lasting impact on your well-being and lifestyle for years to come. That’s why it’s essential to follow a clear and thoughtful approach to avoid the stress or regret that can sometimes follow a property purchase.
To help you write the next chapter of your life with confidence, we’ve put together this article full of practical advice—to guide you through the process and help you find that perfect place to call home.
To begin with, it’s important to clearly define your property project by answering the following two questions as precisely as possible:
- What are your financing needs?
- What are your search criteria?
To assess your borrowing capacity and calculate your real estate budget, you can turn to your bank, a mortgage broker, or a real estate agency. Their role is to understand your project and run several simulations to offer you financing options tailored to your profile (income, savings, professional activity, etc.).
The Banque de France prohibits individuals from exceeding a debt-to-income ratio of 35%, including insurance. To increase your borrowing capacity, you can consider paying off existing loans (student loans, consumer credit, etc.).
Contact Maison Kyka to get connected with a property acquisition manager suited to your situation. Whether you are single, head of a family, expatriate, or foreigner, complete a quick simulation and then schedule an appointment with Maison Kyka to discuss your project.
“Despite my limited time and experience in this area, Maison Kyka made the purchase of my primary residence in the 15th arrondissement a smooth and enjoyable experience. I highly recommend their services.”
Nans R.
Chasing the property of your dreams
This is probably the most time-consuming stage of the project. To find the property of your dreams, three strategies are available to you:
- Create a long list of criteria and hope that the ideal house or apartment is on the market.
- Set few criteria in order to find a property you like relatively quickly.
- Buy a property and carry out renovations to live in a place that reflects your personality and that allows you to build equity for resale (our specialty and the most profitable solution).
Here are some example questions to help define the criteria for your property search:
- Where do you want to buy in France?
- What size are you looking for?
- Are you searching for a specific type of property? (e.g., canut apartment, attic apartment, échoppe bordelaise, etc.)
- How important are natural light and quietness to you?
- For an apartment: which floor? With or without an elevator?
- For a house: multiple floors? A garden or terrace? Solar panels?
- What energy performance rating (DPE) should the property have?
- Do you need a parking space or a bike storage area?
- Do you need a cellar?
If you find it difficult to answer these questions precisely, don’t worry! By browsing listings and discussing with your loved ones, you’ll be able to refine your criteria.
Once your criteria are identified, the hunt is on! You should then use all the tools at your disposal to find properties that match your project: online listings (e.g., SeLoger, Leboncoin, etc.), word of mouth, real estate agencies…
Browsing and sorting listings can be a tedious step, especially if your criteria are quite broad. To help you find a house or apartment that truly meets your expectations, you can sign a property search mandate with a professional buyer’s agent who is trained and supported by a network of partners.
“We worked with Maison Kyka for our first investment! We’re really happy with the result—our apartment is perfect. Céline and Anton provided excellent support; they were attentive and very responsive. A big plus: the timing was almost perfectly on schedule. We highly recommend them!”
Jeanne Sergent
Visiting multiple properties
Have you spotted a property that interests you? Visit it as soon as possible because other potential buyers have likely noticed it too.
However, to avoid unnecessary visits, take the time to carefully analyze all the details in the listing. For example, photos can sometimes reveal inconvenient aspects related to lighting, sound or thermal insulation quality, the general condition of the floors or walls, and more.
Also, remember to compare the price per square meter of the property with nearby homes. To do this, you can use the “Demande de valeur foncière” service provided by the DGFiP (French Public Finance Directorate) or consult a real estate specialist like Maison Kyka.
Once on site, here are some example questions to ask during an apartment visit:
- When was the building constructed?
- Is the heating gas or electric? Is it an individual or collective heating system?
- How many radiators are there? Do they all work properly?
- Have all the mandatory property inspections been carried out? (e.g., termite report, ERNMT, etc.)
- Is the electrical system up to standard?
- Are the windows double-glazed?
- What is the apartment’s Energy Performance Certificate (DPE) rating?
- If you visit late in the day, inquire about the apartment’s sun exposure at different times.
- Are the neighbors owners or tenants?
- What are the condominium fees and rules? Have there been any past issues?
- How much is the property tax (and other local taxes)?
- How many people have already visited the apartment?
In addition to the questions you ask the owner, take the time to carry out a few checks yourself. For example, pay attention to noise coming from outside (with windows closed and open) or from common areas. Look for the presence (or absence) of a ventilation system, signs of dampness, drafts, and so on. Prepare a checklist before visiting the apartment—this will help you remember everything and keep a record of your visit.
Keep in mind that the owner is taking the time to open the doors of their home for you. Be polite and diplomatic to ensure the visit doesn’t feel like an interrogation. To maximize your chances of securing the sale, it’s in your best interest to leave a positive impression on the seller.
If you’re interested in a house rather than an apartment, most of the questions listed above still apply. That said, here are a few additional questions to ask when visiting a house:
- How is the house heated (oil boiler, heat pump, etc.)? Does the heating system work properly?
- What shops and amenities are nearby?
- Is there any asbestos in the house?
- Is the house located in a flood-risk area?
- How is the house connected to the water supply? How is wastewater managed?
- Can you schedule a second visit before purchasing the house?
- Does the local urban plan allow for renovation or extension work?
- What is the condition of the roof and attic?
- If applicable: Is the roof structure strong enough to support solar panels?
Once again, prepare a checklist before visiting the house and take the time to carry out a few checks yourself. For example, assess the overall condition of the exterior walls and the garden to determine whether renovation work might be needed in the short or medium term.travaux de rénovation de la maison doivent être envisagés à court ou moyen terme.
Whether you're visiting an apartment or a house, try to arrive early so you have time to walk around the neighborhood. It's important that you feel as comfortable with the area as you do with the property itself. This is especially important if you're exploring a district or town you’re not yet familiar with.
Finally, even if the first or second property catches your eye, take the time to visit several homes before deciding to submit an offer. This will give you a better sense of the overall quality of properties currently on the market. If possible, visit with someone else—having another perspective can be helpful, and two people asking questions often gather more information than one.
"On average, buyers visit 6 properties before closing a deal."
Crédit Foncier study
Submitting a Purchase Offer
So, the decision is made—you’ve found the gem you were looking for and you’re ready to buy?
However, this is when the “serious business” begins. To commit to the property purchase process, you must first formally notify the seller of your intention.
A purchase offer is a written document that must at least include the following elements:
- A description of the property in question,
- The price you are offering the seller,
- The date of the purchase offer,
- The deadline to accept the offer or make a counteroffer (usually 1 to 2 weeks).
It is now up to you to decide the amount you are willing to pay to acquire the property. Other people have likely visited the property you want to buy, and the seller has probably shown it to each interested party individually. Except in exceptional cases, you do not know how many offers have been made or at what price.
To maximize your chances of securing the sale, you can match the asking price set by the seller. Negotiating the sale price of a property is common in real estate (especially for older properties), but it is inherently a riskier strategy. Therefore, you need to have one or more valid reasons to negotiate the sale price. With Maison Kyka, our advisors support you at every step of the negotiation process.
To convince the seller of your interest, it is helpful to supplement your purchase offer with:
- A letter explaining why you are genuinely interested in the property,
- A financing simulation,
- A financing certificate: this document, signed by your bank or broker, confirms the credibility of your financing plan.
To make your project as concrete as possible and show the seller that you are a serious buyer, you can specify the desired move-in date, the type of renovations you plan to undertake, and the amount of the deposit given to the notary upon signing the sales agreement or preliminary contract (see below).
Finally, you can send your purchase offer by email or by registered mail with acknowledgment of receipt. It can be addressed to the real estate agent handling the sale or directly to the owner.
To increase your chances of acquiring the property of your dreams, rely on experts. At Maison Kyka, we are committed to providing our clients with the best possible experience. Having successfully completed numerous purchase, renovation, and decoration projects, we understand how important it is to be well-supported—and how much the effort is worth! Get a simulation, tell us about your project, and benefit from the sharp and insightful advice of our experts.
“Maison Kyka is an incredible experience with an amazing team! I am the proud new owner of a fully sourced and completely renovated property thanks to Maison Kyka! A first purchase can be complicated and intimidating, so having support under these conditions is simply the best experience possible!”
Jordan Lorho
Signing a preliminary sales agreement or a sales contract
If the seller favors you, two options are available: signing a preliminary sales agreement or a sales contract.
In summary, the preliminary sales agreement is a unilateral contract (only one party is committed), while the sales contract is a bilateral contract (both parties are committed). In practice, both contracts have similar effects — they are preliminary agreements that contain all the conditions to be met for the sale to be finalized.
For example, a preliminary sales agreement must include:
- The address of the property concerned and its availability date,
- The sale price and the method of financing,
- The history of the property (previous owner, date of the last sale, etc.),
- A description of the property (floor plans, if available),
- For an apartment: the condominium rules, the amount of current charges, the minutes of general meetings from the past three years, etc,
- The validity period of the preliminary sales agreement,
- The suspensive conditions (including the buyer’s right of withdrawal within 10 days),
- The amount of fees that the buyer and/or seller must pay to the real estate professional(s) handling the sale.
In both cases, the buyer deposits a security deposit into an escrow account (usually equivalent to 10% of the sale price, excluding notary fees) to confirm the seriousness of their commitment. The seller agrees to grant exclusivity on the purchase of the property for a period of 2 to 3 months.
The seller does not receive the deposit until the sale process is complete. The escrow account is managed by the notary or the real estate agent.
From the day after signing the promise to sell or the preliminary sales agreement, only the buyer has a 10-day withdrawal right. Beyond this period, the buyer can only withdraw from the sale by meeting certain conditions precedent, such as obtaining a mortgage loan or a building permit.
If either party ultimately backs out of the sale for reasons unrelated to these conditions precedent, the other party may seek compensation. For example, the seller may keep the deposit. If the seller wishes to withdraw, the buyer may claim damages or request the forced sale of the property (in accordance with the new Article 1124, paragraph 2 of the French Civil Code).
In a real estate transaction, it is common for both parties to be represented by a notary. Usually, it is the buyer who chooses which notary will draft the preliminary sales agreement or, if applicable, any amendments to it.
If you use a notary, they will likely advise you to sign a unilateral promise to sell. This official deed, which involves registration with the tax authorities, is charged at €125.
Obtaining a mortgage loan
Once the promise to sell or the preliminary sales agreement is signed, you have 2 months to obtain a mortgage loan. For this, you can contact your bank or use a broker to find a mortgage with favorable conditions and a competitive rate.
According to the law, obtaining a loan is mandatorily a suspensive condition of the preliminary contract. Thus, if you do not secure your mortgage within the allotted time, the sale is canceled and any amounts paid are refunded.
To apply for a mortgage loan or a bridging loan, you must provide a set of documents relating to:
- Your personal situation: identity, family status, proof of address, etc.
- Your income: last three pay slips, last two tax notices, etc.
- Your financial situation: last three bank statements, savings account statement, sales mandate for the property (in case of a bridging loan), etc.
- Your real estate project: signed preliminary contract, renovation work estimates for the apartment, construction project estimates for a house, etc.
It is highly recommended to prepare your financing application at the very start of your real estate project to avoid being caught off guard once the preliminary contract is signed. Again, a broker can assist you in assembling your file and highlighting your strengths to secure favorable loan conditions. The more complete your application is, the easier it will be to convince a bank to grant you the loan you seek.
Although not strictly mandatory, it is highly recommended to accompany your financing application with a personal contribution (or “down payment”). This is a sum you are willing to invest personally to purchase the property. Generally, this amount corresponds to the notary fees.
Have you received an attractive loan offer?
Eleven days after receiving it (i.e., once the bank’s withdrawal period has passed), send back the signed financing offer. Be careful: if you return the signed offer more than 30 days after receiving it, the bank may refuse to grant you the mortgage loan because the offer’s validity period has expired.
Finally, expect a delay of about two weeks between accepting the loan offer and the funds being released.
By working with Maison Kyka, we do everything possible to help you secure a loan as quickly as possible and at the best rate. Schedule an appointment with our team to learn more about the support we offer our clients.
“I 100% recommend the Maison Kyka experience! No mental stress at all because they handle absolutely everything, and the team is very responsive to needs and requests, which makes the entire process really smooth. A big thank you to Maison Kyka!🙂”
Perrine Jouve
Signing the authentic deed of sale
The sale of a property is formalized through a deed of sale, which is an authentic document drafted by a notary. This step usually takes place 2 to 3 months after signing the promise to sell or the preliminary sales agreement.
About one month before the signing date, the seller must present you with a draft of the final deed of sale prepared by the notary. If necessary, this allows you time to request any modifications.
A few hours before your appointment with the notary, it is advisable to revisit the apartment or house to take meter readings, ensure no issues have appeared since your last visit (e.g., water leaks), verify that the rooms are empty, and confirm that any furniture agreed to remain is still there.
If you notice any damage or a claimable incident, the seller must inform their insurance company before signing the deed of sale.
At the notary’s office, the deed of sale is read aloud to both parties before signing. Then, the buyer pays the purchase price and notary fees, and the seller hands over the keys to the property.
Finally, the notary provides you with a certificate of ownership, which allows you to subscribe to a home insurance policy or any other utilities (water, electricity, gas) for your new home.
However, the certificate of ownership is not the official title deed. To obtain this, the notary must carry out the registration and publication of the final deed of sale:
- To register the sale of the property, the notary sends the document to the tax authorities, who return a stamped version of the authentic deed.
- To publish the sale of the property, the notary contacts the relevant Land Registry office to complete the required land registration formalities.
The stamped copy of the authentic deed from the tax authorities serves as proof of ownership. Typically, it takes about six months from the signing of the deed of sale to receive the official title deed.
Renovate or move into your new home
Congratulations! You now know how to become the owner of a property.
What happens next depends on your project and the condition of the property you purchased.
If you have purchased your primary residence, all that’s left is to move in and, if applicable, rent out your previous apartment.
However, if you bought a property that requires renovation work, your real estate project isn’t over yet. Choosing a turnkey renovation solution can be a smart strategy, but the reliability and professionalism of the renovation company you hire will play a crucial role in the success of your project.