Notaries' auctions

You and your notary will decide on the special conditions of sale.

As the vendor, it is up to you to determine the conditions of sale. The specification sheet is prepared by your notary and includes general and specific deed of sale conditions. He/she will also provide potential bidders with all the necessary information about the property and its legal status, such as the official name of the property, the origin of the property, planning conditions, any encumbrances, certificates under the Carrez law, whether it contains any asbestos, lead, termites or other pests, the association questionnaire, the mortgage situation, the date of sale, the fixed price, administrative expenses, appendices etc.

The buyers can view this specification sheet three weeks prior to the sale. It is this deed of sale that the buyer completes when determining the purchase price.

As soon as you have signed the sales requisition and fixed the sale date your notary will take the usual steps to prepare the specification sheet. He/she will ask you to give him/her your title to the property and the normal documents attesting to your civil status - birth and marriage certificates, a marriage contract or if you are not a private individual, the company or organization's Articles of Association or statutes, the resolution authorising the sale, extract from the register of companies, etc.

If the property you are selling is subject to a preemption right, your notary will draw up the advance declarations and notifications to cancel the pre-emption right by specifying on the "Declaration of Intent to Waive" the fixed price, the valuation and the date of sale. Then, as for any privately negotiated sale, your notary will obtain the town-planning documents and will take care of the mortgage situation. If your property is rented, your notary will invite the tenant to the sale if necessary.

When the specification sheet is in preparation, you will decide on how the advertising expenses and auction fees are to be divided between you and the purchaser.
The expenses will depend on the type of lowest bid you accept :

If you accept the lowest bid suggested by the Chamber, after the sale you will pay a proportional contribution of 1% ex tax of the auction amount, of a minimum of _ 387.50 ex tax. If the property is not sold, you owe nothing to the Paris Notaries' Chamber which will bear the costs of the valuation prepared by its services, as well as advertising and viewing costs (you will only pay your notary's fees).

If you decide on a fixed price greater than that advised by the Chamber or sell at the reserve price after the sale you will have to pay a proportional contribution of 1% ex tax with a minimum of 387.50 ex tax, as well as the valuation costs if the valuation was performed by the Chamber, the costs for arranging viewings and the notary's fees. You can choose to make the purchaser responsible for all the advertising costs, arranging the auction costs and expenses. This is what happens in the case of charitable institutions, semi-autonomous regions or sellers who cannot afford the costs because of their status, the mortgage situation of the property or due to a judgment. If the property is not sold, you will be charged a flat fee to cover the cost of arranging the auction, the valuation and the viewings.

Important points

You and your notary will decide on the conditions of sale of your property in the specification sheet.

The contract supplies all the information the purchaser needs and is made available to him/her three weeks before the sale date.

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