Property Glossary

Acte authentique

The official deed signed at the notary's office that transfers property ownership. This is the final signature, after which you receive the keys. Allow 2 to 3 months after the compromis de vente.

Apport personnel (Deposit)

The sum you invest from your own funds, without borrowing. Banks typically require a 10-20% deposit for a purchase in Paris. See our guide to French mortgages.

Assemblée générale (AG)

Annual meeting of co-owners that votes on important decisions: works, budget, managing agent. The AG minutes reveal the building's health.

Avenant (Amendment)

A change made to an existing contract (preliminary contract, mandate). An avenant must be signed by all parties.

Bail (Lease)

The tenancy agreement between a landlord (bailleur) and a tenant. In Paris, residential leases are regulated by law and rents may be capped.

Bien off-market (Off-market property)

A property sold without any advertising on the property portals, accessible only through a professional network. At Home Select, we receive 100+ off-market properties every day. Read more.

Bouquet

The lump sum paid upfront in a viager purchase. The amount of the bouquet is freely negotiated between the parties.

Carnet d'entretien

Mandatory building maintenance log that records works done and equipment condition. Useful for anticipating future expenses.

Charges de copropriété

Common building expenses: maintenance, concierge, lift, collective heating. In Paris they range from €20 to €80 per sqm per year depending on the building.

What it means for you They weigh on the real cost as much as the mortgage. Ask for the latest service-charge demands and the minutes of the general meetings: an approved but unfunded façade renovation changes the budget.

Chasseur immobilier (Property Hunter)

A professional who searches for property on behalf of a buyer. They exclusively defend the buyer's interests, unlike estate agents. Learn more.

Compromis de vente

Preliminary contract signed between seller and buyer that commits both parties. It precedes the final deed by 2-3 months and includes the conditions suspensives.

What it means for you This is the real commitment: after the ten-day cooling-off period you cannot walk away without losing your deposit, unless a condition precedent applies. Everything must be checked before this signature, not after.

Conditions suspensives

Contract clauses that allow the sale to be cancelled without penalty if they are not fulfilled (obtaining the mortgage, no pre-emption right exercised, and so on).

Copropriété

Legal regime of a building divided into units belonging to different owners. Each co-owner holds a share of the common parts.

Délai de rétractation

10-day period after signing the preliminary contract during which the buyer can withdraw without reason or penalty.

Diagnostics immobiliers

Mandatory property surveys: DPE, asbestos, lead, electricity, gas, etc. Paid by the seller and attached to the contract.

DPE (Energy Performance Certificate)

Rating from A to G evaluating energy consumption. Poor ratings (F, G) impact value and rental possibilities. Impact on prices.

Droit de préemption

Right granted to certain parties (the local authority, the tenant) to buy a property ahead of others. The notary checks whether it applies.

État daté

A document produced by the managing agent when a co-ownership lot is sold, setting out the lot's financial position (charges due, works voted). Mandatory, and supplied to the buyer.

Exclusivité (Exclusive mandate)

A mandate entrusting the search to a single property hunter. At Home Select, the mandate can be terminated at any time. Read more.

FCI (Fédération des Chasseurs Immobiliers)

The professional body for French property hunters. Membership guarantees adherence to a code of conduct and an ethical framework. Home Select is a member.

Fonds de travaux

Mandatory building reserve fund (since 2017) to finance major future works. Minimum 5% of annual budget.

Frais de notaire (Notary fees)

Sum paid to the notary at purchase, including transfer taxes, the notary's emoluments and various costs. About 7-8% for existing properties in Paris.

What it means for you The term is misleading: most of it is tax paid to the State, and the notary keeps only a small share. It is added to the asking price and is not negotiable: budget for it from the outset.

Garantie décennale (Ten-year guarantee)

Mandatory insurance covering defects that compromise the structural soundness of a building for 10 years after construction. Mainly concerns new builds and major works.

Garantie des vices cachés (Hidden defects warranty)

The buyer's legal protection against defects not visible at the time of purchase. The seller remains liable even if an exemption clause appears in the contract (unless they are a private individual acting in good faith).

Haussmannien (Haussmannian)

The architectural style typical of Paris (1853-1870), characterised by dressed stone façades, continuous balconies and high ceilings. Haussmannian flats are the most sought-after in the capital. Our guide.

Honoraires (Fees)

The property hunter's or agent's remuneration. At Home Select: 2.5% of the purchase price (minimum €10,000 incl. VAT) on the Exclusive offer, 1.5% on the Confidential offer from €2M, paid only on success. Fee details.

IFI (Impôt sur la Fortune Immobilière)

The annual wealth tax on net property assets above €1.3 million. It also applies to non-residents on their property located in France.

Indivision (Joint ownership)

The situation where several people own the same property without it being divided into lots. Common with inheritances and purchases by unmarried couples.

Loi Carrez

The private floor area of a co-ownership lot, measured under strict rules (ceiling height above 1.80m). Must be disclosed at sale.

Loi Hoguet

The law governing the property professions: professional licence, written mandate, financial guarantee and professional liability insurance.

LMNP (Furnished Rental)

A tax-efficient status for owners letting furnished property. Allows depreciation of the asset and reduces the taxable base. Tax guide.

Mandat de recherche (Search Mandate)

The contract between property hunter and client, setting out the brief, the duration and the fees. Mandatory, and governed by the loi Hoguet. Learn more.

What it means for you Before signing, check three things in it: the rate and minimum fee, the duration and exit terms, and that nothing is owed if no property is bought.

Marge de négociation

The gap between the asking price and the actual sale price. In Paris, the average margin is 5 to 8% in 2026. Our hunters secure 6% on average. Our expertise.

Notaire (Notary)

A public officer who drafts and authenticates the deed of sale. Buyers may appoint their own notary at no extra cost.

Nue-propriété (Bare ownership)

Ownership of a property whose usufruct (the right of use) is held by a third party. Buying the bare ownership lets you become an owner at a reduced price while waiting for the usufruct to end.

Off-market

Properties sold without advertising, by private treaty. At Home Select, 15% of the properties we find are off-market, thanks to a network of 15,000 partners. How to access them.

What it means for you An off-market property is not inherently cheaper: the saving comes from the negotiation, not from the confidentiality. If a professional cannot tell you why it is unlisted, the label is worthless.

Offre d'achat (Purchase offer)

A written proposal from buyer to seller setting out the price and the conditions. It binds the buyer morally but not legally until the preliminary contract is signed. How to write an offer.

Parties communes (Common parts)

Building elements owned by all co-owners: hallway, staircase, roof, façade, lift.

Parties privatives (Private parts)

Elements owned solely by each co-owner: the flat itself, and where applicable a cellar or a parking space.

Prêt immobilier (Mortgage)

A bank loan to finance the purchase. The mortgage condition precedent protects the buyer for 45 to 60 days after the preliminary contract.

Primo-accédant (First-time buyer)

Someone buying property for the first time. Certain schemes (such as the PTZ) are reserved for first-time buyers. First-time buyer guide.

PTZ (Zero-interest loan)

An interest-free loan for first-time buyers, subject to income limits. In 2026 it can finance up to 50% of a new-build purchase in Paris.

PV d'AG (AG minutes)

The minutes of the co-owners' general meeting. An essential document for knowing which decisions were voted and which works are planned.

Quote-part (Share)

Each co-owner's share of the common parts, expressed in thousandths. Determines the contribution to charges and the weight of votes at the AG.

Ravalement (Façade restoration)

The mandatory restoration of a building's façade, required by the Paris city authorities every 10 years. The cost is shared between co-owners according to their tantièmes.

Règlement de copropriété

The document setting out how the building is run: use of the common parts, permitted works, allocation of charges.

Rendement locatif (Rental yield)

The ratio of annual rent to the purchase price. In Paris, gross yields sit at around 3 to 4%. Full analysis.

SCI (Société Civile Immobilière)

A legal structure for buying property with others through a company. Advantages for inheritance planning, management and tax. Benefits and pitfalls.

Séquestre (Escrow)

A sum paid at the signing of the preliminary contract (5 to 10% of the price), held in escrow until completion. It is credited against the purchase price.

Surface habitable (Living area)

The built floor area, less walls, partitions and any space with a ceiling height below 1.80m. Different from the Carrez area.

Syndic (Managing agent)

The professional or volunteer who runs the co-ownership: maintenance, accounts, organising the AG. Elected by the co-owners.

Tantièmes (Shares)

The units used to measure each lot's share in the co-ownership. For example: 150 / 10,000 shares.

Taux d'usure (Usury rate)

The legal maximum rate above which a bank may not lend. Updated quarterly by the Banque de France.

Taxe foncière (Property tax)

An annual tax paid by the owner, based on the property's notional rental value on the cadastre. In Paris it rose significantly in 2023 (+52%).

Usufruit (Usufruct)

The right to use a property and collect its income (rent) without being the full owner. A usufruct is either temporary or for life.

Viager (Life annuity sale)

A sale in which the buyer pays an initial lump sum and then a life annuity to the seller until death. Uncommon, but it can throw up opportunities.

Vice caché (Hidden defect)

A defect not apparent at the time of purchase, which makes the property unfit for use or significantly reduces its value. It can lead to rescission of the sale or a price reduction.

Zone tendue (High-demand zone)

A commune where housing demand far outstrips supply. Paris and the whole of Île-de-France are classified as zones tendues, which affects rent caps and tenants' notice periods. What it means for buyers.