An accurate online database and an expert valuation service
Property databases were created in the notary profession more than twenty years ago.
Property bases are closely linked to the public service duties carried out by notaries related to the management of real property sales in France. Indeed, only notaries acting in their capacity as public officials are authorized to handle real estate sales and to guarantee the effectiveness and validity of the sale. Notaries must be involved in all types of property sales (residential, tertiary, land). Similarly, buyers, whether individuals or a legal entities, must involve a notary in their transactions.
As a result, the notary handles a large amount of information concerning the seller and buyer, as well as the nature of the location of the real estate concerned. The notary adds information to the databases, on an anonymous basis, of course, and in full respect of the confidentiality of the entire transaction, with the desire to ensure transparency of the market.
These databases today contain information on almost 13 million deeds, 3 million of which are located in the Ile-de-France database, which contains more than 80% of the sales deeds signed in the offices of the Ile-de-France region. Every sale adds around 120 items of information. This information includes the price of the transaction, a description of the asset, its location, financing details and information about the parties involved.
Deeds of sale and more recently preliminary agreements, which were initially entered by specialised codifiers, are now set to be entered automatically via a link connecting all offices to the databases under strict quality control to ensure that all data entered is perfectly accurate.
These databases provide offices with the efficient vigilance they need to help them perform their different tasks such as assets assessment, advice, tax assistance, real estate market analysis for investment projects, etc.
The databases can be viewed on line by the public at large. More detailed information can be obtained from a notary. Statistics regularly circulated by notaries concerning the development of the real estate market have become benchmarks.
The Paris Chamber of Notaries has set up an expert valuation service available to all offices (and now known at a European level) which is part of one of the best networks of expert real estate notaries in France. This service is available for any notary concerning any type of property, whether residential or more complex, from single assets to a large estate.
Notaries organise public real estate auctions where you can openly buy or sell any type of real estate on entirely transparent terms, whilst benefiting from the public auction system, which provides complete guarantees to all potential buyers and sellers.