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A comment on The Ugly Truth Behind “We Buy Ugly Houses”. Parent comment

Re:The Ugly Truth Behind “We Buy Ugly Houses” by mixdup on Friday May 12, 2023 @09:11AM (#35915731)
>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

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Re:The Ugly Truth Behind “We Buy Ugly Houses” by BrandoElFollito on Friday May 12, 2023 @09:19AM (#35915836)
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.

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Re:The Ugly Truth Behind “We Buy Ugly Houses” by donedeals on Saturday May 13, 2023 @12:55AM (#35925678)
US has similar system called escrow that title companies (a third party) manages.
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Re:The Ugly Truth Behind “We Buy Ugly Houses” by BrandoElFollito on Saturday May 13, 2023 @10:35AM (#35928811)
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)
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