3 ms·
> What are the mechanics of how this works? If I agree to buy a property for a million dollars, does the city get a chance to match that price? there's a Frenc
by baud147258 3y ago
> What are the mechanics of how this works? If I agree to buy a property for a million dollars, does the city get a chance to match that price?
there's a French wiki page on this: https://fr.wikipedia.org/wiki/Droit_de_pr%C3%A9emption_urbain#R%C3%A9gime_actuel https://fr.wikipedia.org/wiki/Droit_de_pr%C3%A9emption_urbai...
But basically, yes, the city has 2 months to match the price. The city can also offer a lower price, which can be refused (so no sale at all) or can be argued in front of a special judge, who'd rule if the price offered by the city is acceptable, depending on the local housing market.
It's not a rule that's specific to Paris, but which is applicable in most French cities.
- bertjk 3y agoSo does this mean that every sale of any building can take at least two months?
- mratsim 3y agoThey always take two months at the very minimum as well because buyers as to go to many banks or a loan broker. You have notaries involved and right to step away from a sale, no question asked for 10 days iirc.
- orwin 3y agoNot any, only old buildings built after a certain date. And two month to sell a building in France? It's fast.
- willyt 3y ago2 months would be an ultra fast completion in the UK. I think when I bought my house it took 3 months, when I bought some land, cash purchase, it took more like 6 months.
- estebank 3y agoI've seen the process to purchase a place in both France and California. The former can take the significant part of a year, the later a matter of days.
- baud147258 3y agoFrom the experience of a few friends who've bought appartments these last years, two months would be the minimum here in France.