You pay a deposit of usually 5 to 10% of the price when you sign the compromis, held by the notaire. The balance of the price and the purchase costs follow before the deed, and they must be on the notaire's account when you sign. If you borrow, the bank usually pays the loan to the notaire. Payments to the notaire must be made by bank transfer from an account in your own name, and the notaire checks where the money comes from.
The three payments
| Payment | How much | When and where |
|---|---|---|
| Deposit (dépôt de garantie) | Usually 5 to 10% of the price, agreed between buyer and seller | At or just after the compromis, to the notaire's escrow account. If the compromis is signed without an agent or notaire, nothing can be paid until the 10-day withdrawal period has passed. |
| Balance and purchase costs | The rest of your own contribution, plus 7–8.5% of the price in taxes and fees on an existing home | Before the deed. The notaire sends a call for funds, usually a few days to a week before signing, and the money must be on the notaire's account on the day. |
| Mortgage funds | The amount of the loan | Usually paid by the bank to the notaire once the notaire has the bank's complete file. Make sure the loan offer reaches the notaire at least two weeks before signing. |
The deposit is deducted from the price at completion. If your loan is refused within the period of the loan condition, it must be returned to you in full. If you withdraw within the 10-day period, it is returned too. If you simply decide not to buy once every condition is met, the seller can keep it. Sources: Chambre des notaires de Paris, service-public.fr, Crédit Agricole.
The rules on the transfers
- Bank transfer only. Payments made or received by a notaire on a property deed must be made by bank transfer once the total reaches €3,000, however many payments it is split into (Code monétaire et financier, articles L112-6-1 and R112-5). On a property purchase, that is every payment. No cheques, and never cash: the UK government warns that paying part of the price in cash is a common but illegal practice.
- From an account in your own name. The notaire must check that the money comes from the buyer named in the compromis, and English-speaking notaries say plainly that they cannot accept a transfer from an account in someone else's name. If you buy through a company, it comes from the company's account.
- Where the money comes from. Notaires are bound by anti-money-laundering rules. Expect to fill in a declaration of the origin of the funds and to provide a letter from your bank confirming the account is in your name. Money from a French loan is proven by the loan offer.
- A clear reference. The transfer should show your name, the notaire's office as beneficiary and the purchase it relates to. Ask the notaire for the exact reference to use.
Sources: Congrès des notaires, BOFiP, GOV.UK.
When to send the money
Notary offices commonly ask for funds to arrive two or three working days before the signature. Crédit Agricole allows up to five working days for an international or large transfer, and the UK government advises arranging transfers to the notary's account at least 10 days before completion so that they clear in time.
Your own provider may also need time: for large amounts, money transfer firms may ask how you came by the money before they send it. Start the transfer early enough that the money is on the notaire's account a week before the signature, and ask the notaire's office to confirm receipt.
The exchange rate on the big transfers
The deposit and the balance are large, one-off conversions on fixed dates, so they are where exchange rates matter most. On the ECB's reference rates, a €300,000 purchase would have cost between £250,074 and £265,380 over the last twelve months, a difference of about £15,300. Over five years the gap was about £23,600 in pounds and about $72,300 in dollars (our calculations on ECB reference rates, November 2021 to November 2026).
You can convert at the rate of the day when the money is needed, or fix the rate in advance. See fixing the exchange rate before completion.
Before you sign the compromis
- Know where each part of the money will come from and which account will send it.
- Ask the notaire for their bank details by phone or in person, and confirm them again before the large transfer. Never act on changed bank details received by email alone.
- Tell your provider the dates and amounts, and ask what checks they will need for a large transfer.
- Keep the bank letters, statements and transfer confirmations: the notaire will ask for them.
If you would like a currency specialist to contact you about the deposit, the notaire funds or your repayments, tick the currency box in your eligibility check, or ask your broker. It is never a condition of the introduction.
The currency specialist we introduce is run by the founder of this site.
Questions
Can I pay the notaire in pounds or dollars?
The notaire is paid in euros. Convert before sending, from an account in your own name. If a currency provider will send the euros, ask the notaire in advance which bank letter they need to show the account is yours.
Can a relative pay part of the price for me?
The notaire must check that funds come from an account in the buyer's name. Money from a relative should normally reach your own account first, with documents showing it is a gift or a loan.
How much deposit do I pay at the compromis?
It is agreed between buyer and seller, usually 5 to 10% of the price, and held by the notaire until completion.
How early should I send the money to the notaire?
Early enough for it to be on the notaire's account at least a few working days before the signature. The UK government advises arranging transfers at least 10 days ahead.