harrop french lawyers (3)

Explanations from your real estate lawyer in Nice
Property auctions represent a real estate investment opportunity

Judicial Property auctions can however offer great investment opportunities for those who will
become the successful bidder.

If you want to buy a property at an auction in France, you need to be represented by a lawyer
registered with the bar where the auction is taking place. 
This means HARROP LAWYERS can only represent you before the Court of NICE in this specific
area of law.
A few weeks, prior to the auction sale, you will be able to visit the property under the supervision of
a bailiff at a set time and date.
In order to participate to the auction you will have to provide a cheque provided by your bank it is
commonly called “un chèque de banque” amounting 10% of the starting price but cannot be less
than 3.000 euros.
 
We will be asking you to decide what is the limit of the price you are willing to pay for the
property and we will be sending you a power of attorney with this limit.
 
Should you win the auction, you would have to wait 10 days in case someone increases the price of at
least 10% before being able to finalise the bid.
Furthermore, please bear in mind that if you win the PROPERTY AT THE AUCTION there will be
extra FEES to pay:
 
1 “les frais préalables” – prefixed fees – that we will know of a week before the auction – which will
have to be paid within 15 days after the final sale, ie. 15 days after the 10 days that follow the
auction. 
 
2 the fees to register to change of name of the property (taxes that are also due before a notaire when
you are buying an estate) which amounts 5,01% of the final price of the auction.
 
3 the lawyers’ fees to follow the registration of the property 
 
Those fees will have to be paid in the month following the final sale.

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