It is still possible to find a Bargain!
Having found your property and agreed a price with the vendor, the next step is a trip to the notaire. The Notaire is independent, and usually acts for both sides, although there is nothing to stop you appointing your own notaire - in which case the fees will be split. Notaires fees are paid (usually) by the purchaser and will be in the region of 10% of the purchase price.
At the Notaires, you will sign the Compromis de Vente, which binds both parties to the sale. A deposit of 10% or more is required. If the purchaser pulls out he will lose his deposit, if the vendoe pulls out he is liable to refund the deposit, plus compensation, usually the amount of the deposit again. If you are unsure as to whether you will get a mortgage, it is in your interest to insert a clause suspensive - to make the sale conditional on your getting finance; this way, should you not get the mortgage you need you will be able to pull out and recoup your deposit.
From signing the Compromis there is a delay of 2 to 3 months before signing the Acte Authentique de Vente, at which point the transfer of the property takes place. You will be required to pay the balance plus the Notaire's fees at this point.
A French property will be disposed of under French succession laws in the event of the death of the owner, or one of the joint owners. This may not be what you desire and it is essential that you take appropriate advice before the Acte de Vente is signed.