French Property auctions

1.La vente judiciaire en cas de saisie immobilière. This is a repossession auction and takes place at the bar of the Tribunal de Grande Instance. A lawyer is required to submit the sealed bids.

2.La vente volontaire devant notaire. This is a public auction conducted by a notaire on the instructions of the owner, such as when a property is left to a number of relatives.

3.La vente des domaines. This is a public auction of state-owned property or property that is vacant, such as following a death where there are no named heirs.

Where can people find out about auctions?
Categories 2 and 3 above are public sales, open to everybody and advertised by notaires, usually via small ads in the regional or national press, at the notaire's office and on the internet (Marchê Immobilier des Notaires - MIN). Information usually includes the date and place of the sale and instructions on where you can consult the cahier des charges (property details).

For judicial auctions (Category 1, above), guidelines exist to ensure as widespread a visibility as possible. Such auctions are posted on boards at the property itself, at the Town Hall, the Court house, and advertisements are placed in the legal, local or national press. The whole schedule of upcoming auctions is available from the Tribunal de Grande Instance.

The cahier des charges is prepared by the notaire or tribunal and is made available for consultation well before the sale takes place. It lists the aspects of the property as well as any constraints attached to it and property inspections. It will also list the starting price and the deposit amount required to participate, fees and the conditions of sale. Visits are often organised which allow you free access to the property (times are indicated in the advertisements). Take an expert such as a surveyor, architect or builder along with you.

Caveat Emptor! Auctions are exempted from the French cooling-off law that normally applies in property transactions and you will not have the usual 7 days retraction period - you are buying 'as seen' and cannot change your mind.

The successful bidder will then have to pay 1 per cent of the successful bid, the costs of preparing the cahier des charges, the fees for registering the sale, and the notaire's fees. Normally, the purchaser will have a period of 45 days to settle the full balance due as well as these fees.