French Buyers' Info
Property Types in France
Property Restrictions for Foreigners
Purchase Process and Costs
Advantages of Buying a Newbuild Property
VAT Rebate for Rented Properties
Buying in the Name of a Company
Rental Income and Running Costs
Investment and Selling
Annual Property Taxes
Staying in France and French Residency
What completion guarantees are given on new developments in France?
The notary can only sign the official sales deed when the developer has a financial guarantee / insurance policy which guarantees to the purchaser that the apartments will be finished and delivered even if the developer were to become bankrupt. This guarantee is known as the ‘financial guarantee of achievement’ (GFA) and the bank which is lending you the money to buy your apartment will insist that the developer has a GFA for the development before they will lend. The insurance company will only give a GFA when the developer has around 50% pre-sales.
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