A notary in France must mean something completely different from a notary in the United States. In the US a notary simply is verifying the identity, and swearing they have done so, of the people signing the document.

It's entirely possible and happens all the time that a fraudulent document is notarized.

In France (civil law, different from US common law) a notary is a qualified lawyer whose role when selling the house is to ensure that all the legal aspects are handled correctly (including things as making sure that the technical reviews of the house have been done, that there are specific documents from the city etc.), and to make sure that the people who sign the documents are the ones that are allowed to do so.

This means that when you are done with the signature, all legal aspects of the transactions are covered.

Since what needs to be checked is completely standardized and what is in the contract is standardized as well, you are not expected to negotiate anything (except for the price). There are no surprises in the contract either - it is all standard (and boring).

When you are at the notary the contract is read out loud but for one you do not understand everything, and for two you do not worry either as this is the same thing everytime and cannot be neither less nor more than what is required by law.

BTW, each party can have their own notary (what each of them do is legally defined as well and they share the fee (also according to the law :)) or you can have the same for both.

It is very comforting for a stressful act like this.

This is very similar with labour contracts (no notary involved, but a fixed set of points in the contract, no more an no less)

>In France (civil law, different from US common law) a notary is a qualified lawyer whose role when selling the house is to ensure that all the legal aspects are handled correctly (including things as making sure that the technical reviews of the house have been done, that there are specific documents from the city etc.), and to make sure that the people who sign the documents are the ones that are allowed to do so.

This is typical in the US, too (just called a lawyer, not a notary) but it's not required

If you're buying a house with a mortgage, you're going to be represented by a lawyer who makes sure everything is on the up and up (and more importantly the mortgage company is being represented to make sure everything is on the up and up)

But, it's not required and really all that's required to transfer property is a signature on a deed

In France it is a hard requirement. Also you cannot pay directly, the money goes through the notary (and a special account handled by the government).

This is actually a two-step process. You sign a first contract that entirely engages both parties - the only exception is if the buyer cannot get a credit. They have a month (or something like that) to secure it.

Then once the funds are there the final contract is signed.

US has similar system called escrow that title companies (a third party) manages.

This is exactly an escrow in France, just that this is compulsory, and has to go though a special notary account (that is managed by the gov't)

They pay dearly for this though -- 7.5% of the price of the house goes to the notary/state. In the US it can be as high, but it's usually not, since most fees are fixed amounts.

It depends if the house is new or old. For a new house this ~2%.

There is a legal possibility to negotiate part of the notary cost (to lower it below the legal maximum) but the chances are thin (they get better for expensive houses).

Oh, this is good to know thanks.

In the US you have to have a real estate attorney as well. And contracts are standardized by the federal government. I think the actual price varies and the last time I bought a house the attorney’s fee was $850.