Signing the final deed of sale - 3 questions to help you succeed

Why do I have to go to a notaire to sign the deed of sale for a property?

It is indeed an obligation to go and sign the final deed of sale at a notary's office. This is the ultimate step in becoming a property owner. This deed is called an authentic deed, because it is received by a public official, the notary. It contains a certain number of compulsory clauses, as well as clauses negotiated beforehand when the compromis de vente was signed. These include the lifting of conditions precedent, such as obtaining a loan or building permit. This formalism confers on the deed a date certain, probative force (as proof of its content) and enforceability (to avoid the creditor having to obtain a judgment). Once the deed has been signed by the notary and the parties, it is published by the land registry to make it enforceable against third parties. The original deed is kept at the notary's office, in the notary's minute book. You can always request a copy if you lose your title deed.

How is the sale price paid to the notary?

There's no need to arrive on the day of your appointment with a briefcase full of cash! In fact, you won't sign your deed of purchase until the funds have been transferred by you or your bank (in the case of a bank loan) to the notary's account. Bank transfer is compulsory! This means that the purchase price must pass through the notary's escrow account. The deposit (usually 5-10% of the price), paid at the time of the preliminary sale agreement, will of course be deducted from this. If you have a down payment, it must also have been transferred. To make sure you don't get lost in all these figures, the best thing to do is to receive from your notaire, well in advance, details of the sum to be paid on the day of the signing meeting, i.e.: sale price + deed fees minus deposit.

Is it possible to get the keys before signing the final deed of sale?

Your notary can only advise you against this, otherwise you'll be taking a decision at your peril! Sometimes, in trying to be helpful, you end up in a very bad position. For example, the buyer may die after having started work on the house to bring it up to his standards. And this is not a hypothetical case! A partition has been knocked down, the floor tiles removed... it's a work in progress! In the event of death, the sale will be cancelled. You'll need to find a new buyer for the house that's still under construction. Needless to say, the house will have lost some of its value.
Handover of the keys is a symbolic gesture that should normally take place on the day the final deed of sale is signed. This means the transfer of charges and risks. You only really become the owner when the deed is signed. As the buyer, you'll need to insure the property for the day of signing (theft, fire, etc.). If your insurer agrees to insure the property in advance and the house catches fire... you could find yourself in a legal battle between insurance companies. It can take a long time! In the meantime, you can't sell your property or get compensation!

Stéphanie SWIKLINSKI