French Property Problems that you can Avoid

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French property can be very charming on the outside but inside a unsuspecting buyer may find a few surprises.

When you are working with a French real estate professional part of his or her job is to point things out to you that you may not notice as you visit the property then it is up to you to decide if it is acceptable or a concern for you.

We speak to many buyers and sellers during our work and at a social gathering recently one buyer told us about this MAJOR problem she found out after she had purchased a French property direct from an owner without the assistance of an agent.

This article points out another surprise the same French property buyer encountered. See the photo below.

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The buyer did not notice during the visit to the property prior to making an offer to purchase that the sink in the bathroom had some cracks. When she moved in she was concerned the sink may collapse on one of her children so she asked a plumber to remove the sink.

As the plumber removed the sink it broke into pieces!

Conclusion: make sure that when you visit a French property you take your time and pay close attention to the condition of the features that remain in the home. This particular sink the French property buyer told us cost 110 euros to replace. A cost she wish she could have avoided especially since she already had this problem.

Share this article with Friends thinking of buying French property just so they remember that charming old homes sometimes have work that needs to be done, work you never intended to do.

What does a French notary do during the sale of a property?

Once a French notary has prepared the original contract and it is signed by all parties to the contract the French notary starts a number of searches on the French property that include:

One
Verifiying the identity of all parties to the contract.
( buyer (s) and seller (s) )

Two
Checking for the presence of existing mortgages and loans essentially any financing tied to the French property.

Three
Confirming the seller has the legal right to sell the French property.

Four
Confirming and calculating any taxes related to the sale of the property that includes transfer taxes and capital gains taxes.

Five
Rights of usage that are related to the land and the property typically called servitudes.

There are other items a French notary checks depending on the age of the French building and the type of the building.
Consult your English speaking notary for more details and / or visit the English section of the Notaries of France website here.

3 French Cities in the Top Fifty Places to See in Your Lifetime

France offers 3 of the top 50 cities to see in your lifetime according to an article in the Huffington Post.

The Three French Cities are:

One

Paris – the city of lights and considered one of the most romantic places on Earth!

Two

Lyon – Lyon is a world heritage city offering you special events like the Fête des Lumières.

Three

Mont Saint Michel – Le Mont-Saint-Michel is a spectacular island commune in Normandy, France. It is located approximately one km off France’s northwestern coast and receives over 3 million visitors a year.

Read about all the 50 places here at the HuffingtonPost

 

 

What percentage of French people search online for property?

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French people have really started to look to the internet for their French real estate purchases.

According to a recent survey by Credit Foncier cited in Explorimmo after asking 3800 people in France how they search for their French property 95 percent said online.

In the past since the French locals where not searching online so much they were reading the advertisements in newspapers and glossy magazines.

Now with the change in habits these means that English speaking French property buyers need to act quicker to arrive sooner at desirable properties.

No time to waste, make sure you have the help of an English speaking French real estate agent.

Do French people buying property prefer banks or mortgage brokers?

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Did you ever wonder if French people prefer to go to the bank or to a mortgage broker when they are looking for financial guidance on a home purchase.

According to a study by Explorimmo the results are:

44 percent of French people prefer to go to their bank for financial guidance

16 percent of French people prefer to go to a mortgage broker for financial guidance

11 percent of French people go to their Notary for financial guidance

11 percent Real Estate Professional for financial guidance

See the full results in the Explorimmo article in French.