When buying an off-plan property in France, payments are made in stages as construction progresses.
This is an attractive benefit as the purchasing costs are spread over several months. It also allows for easier planning of the release of savings. Stage payments for new build property are government regulated and stated in the Reservation contract.
Once the Deed of Sale is signed the stage payment process starts. Each stage of construction is signed off by an independent surveyor and a certificate (Attestation d’avancement des travaux) is issued by the surveyor confirming that the work has been completed. This gives the purchaser of off plan property complete protection. We will then request payment for that stage from the buyer and enclose a copy of the certificate with the stage payment request.
The final payment is made on the day that we give you the keys and you take possession of your new chalet.
As a guideline, once the 5% deposit is paid:
25% at foundations stage
25% when water tight (roof)
15% when air tight (doors and windows)
15% partition walls
10% on completion of works
Last 5 % at the key handover (delivery)
At the time of the key handover, we will accompany you through your new chalet and, if necessary, make a snagging list with you of any items that need attention.