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The Buying process

Buying a property in the French Alps can be an exciting experience. As your partner in this journey, Domosno is here to guide you through the specific legal and financial steps of the VEFA process so you can feel comfortable and confident.

Preparation & Financing

 The first step is understanding your buying power. Whether you are a cash buyer or require a mortgage affects the timeline; a notary can usually complete a cash purchase in 4–6 weeks, whereas a mortgage buyer should allow 3–4 months.
• French Mortgages for Non-Residents: Most French banks require a minimum 20% deposit from non-residents. Interest rates are typically fixed for the full term, though they may be about 1% higher than for residents.
• Mortgage Contingency: It is vital to include a financing clause (clause suspensive de prêt). If your financing is refused within the terms of this clause, your initial deposit is refunded 100%

Reservation

Instead of a standard “offer,” you begin your purchase journey by signing a Reservation Contract:
• Price Guarantee: Once this contract is signed, the price is fixed by law. Developers cannot raise the price or accept a higher offer from another party.
• Notary Review: At this stage, your independent English-speaking notary (introduced by Domosno) will review the contract and request amendments if needed. He will also answer all your questions regarding the contract’s legal terms. Domosno also provides translated documents for the client’s information.
Example living room. Le Morok

Cooling-Off & Deposit

After signing the reservation contract, you enter a mandatory 10-day cooling-off period, during which you can review your decision with complete peace of mind.
 
• The Deposit: You only pay the deposit after this cooling-off period ends. This is typically up to 5% (or a fixed amount between €1,500–€5,000) and must be paid into the notary’s escrow account, where it is safe and untouchable. Often, with off-plan purchases, the deposit is 2%.

Legal Protection & The GFA

 Before you move to the final exchange of contracts, specific protections must be in place.
• GFA (Financial Guarantee of Completion): The developer must have a Garantie Financière d’Achèvement. This ensures the property will be completed even if the developer faces financial difficulty. Without a GFA, the exchange of contracts cannot proceed.
• The Role of the Notary: The Notary represents the French state to ensure legality. Domosno will introduce you to an independent English-speaking notary who will explain the deeds and process in your language
clean modern alpine bedroom interior

Exchange of Contracts (Signing the Deed)

This is the moment you become the legal owner, even if construction works are still ongoing.
• Signing: You do not need to be in France for this. Most contracts use a secure e-signature process, or you can use a Power of Attorney (approx. €100–€150) to sign remotely via video call.
• Fees: At this stage, you will pay the “Notaire fees” (Stamp Duty & Legal Fees). For new-build properties, this is approximately 2.5% to 3% of the purchase price, which is significantly lower than for resale properties.

Stage Payments

Unlike buying an existing home, where you pay in full at closing, a new-build VEFA purchase involves paying in stages as construction progresses. A typical schedule includes:
• 30% upon foundations/start of works.
• 70% when the roof is complete (watertight).
• 95% when the property is structurally complete.
• The final balance is paid upon delivery.

Guarantees & Final Delivery

 Instead of a standard home inspection, new-build properties come with strict statutory guarantees.
• Warranties: You benefit from a 10-year structural guarantee (Garantie décennale) and a 2-year guarantee on fixtures (Garantie biennale).
• The Handover: The final step is delivery. Once the property is 100% complete, you will receive the keys and can move into your new ski home!
What happens to my deposit if I cannot get a French mortgage?

You can protect your deposit by including a financing clause (clause suspensive de prêt) in your reservation contract. If you include this clause and your mortgage application is refused within the agreed terms, your deposit is refunded 100%. It is important to note that you must sign the reservation contract before you can officially start your mortgage application.

No, unlike buying an existing home, a new-build VEFA purchase involves stage payments. You pay the amount corresponding to the current stage of construction at the exchange of contracts, and the rest follows a set schedule. A typical schedule includes paying 30% at the start of work (foundations), 70% when the roof is watertight, 95% when the structure is complete, and the final balance upon delivery.

The costs for new-builds are significantly lower than for older resale properties. For a new-build property, the stamp duty, notary, and legal fees total approximately 2.5% to 3% of the purchase price (for properties over €400k). If you are taking out a French mortgage, you should budget for a total of approximately 4% to cover mortgage duties.

Yes, the process includes a mandatory protection called the GFA (Garantie Financière d’Achèvement). This describes a financial guarantee of completion that ensures the property will be finished even if the developer encounters financial difficulties. The exchange of contracts cannot legally proceed unless the developer has this guarantee in place.

Not necessarily. While you can sign in person at the notary’s office, you can also sign remotely. Most reservation contracts use a secure e-signature process. For the final exchange of deeds, you can use a Power of Attorney (costing approximately €100–€150) combined with a video call, where the notary will explain the documents to you in English and you will be able to exchange remotely. This is very common with off-plan purchases, as it is not like you can get the keys and move in; you might have to wait six months or more until delivery.

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