3 ms·
In France it is a hard requirement. Also you cannot pay directly, the money goes through the notary (and a special account handled by the government). This is
by BrandoElFollito 3y ago
In France it is a hard requirement. Also you cannot pay directly, the money goes through the notary (and a special account handled by the government).
This is actually a two-step process. You sign a first contract that entirely engages both parties - the only exception is if the buyer cannot get a credit. They have a month (or something like that) to secure it.
Then once the funds are there the final contract is signed.
- donedeals 3y agoUS has similar system called escrow that title companies (a third party) manages.
- BrandoElFollito 3y agoThis is exactly an escrow in France, just that this is compulsory, and has to go though a special notary account (that is managed by the gov't)