The signature of the deed at the French notary will, therefore, transfer to the buyer, the ownership of the property, and this transfer of ownership will lead to the partial payment of housing.
Indeed, the payment of the property will be made in different stage payments based on construction advancement.
In a practical way, the different stages of construction – which will generate the triggering of the calls for payment – are regulated by law. Thus, the developer cannot freely set how and when the stage payments are to be paid.
Similarly, the amounts that will be called during these various stages are also regulated.
This is an example of main stage payments when buying off-plan in France:
35% of the price of the property upon completion of foundations,
70% of the price of the property upon completion of roof,
95% of the price of the property upon completion of the work,
The balance, 5%, upon delivery of the property to the buyer (in case of dispute by the buyer, these funds can be consigned onto escrow account)