Author: The ESREA France Team

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What is Viager in a French Real Estate Ad?

In France, an elderly French property owner can increase his or her retirement revenue by using a system of Viager where they sell their property via a down payment and monthly revenue for life paid by the buyer.

The payment of the monthly payment from the buyer to the seller typically ends with the death of the seller, however, the buyer does not know when the seller will die, therefore the buyer could be paying for a long time into the future.

There are several forms of Viager one is called Viager Occupé and this is when the seller of the French property remains in the property until his or her death.

If you are interested in learning more about Viager we recommend you speak with an English speaking French notary.

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French Property Owners Debt is on the Rise

French property owners debt is approximately 85 percent of the household debt according to a new study done by Credit Foncier and le cabinet Asterès.

Nicolas Pécourt of Credit Foncier quoted in French in Le Monde and we translate into English “That since 2004 French real estate owners are increasing their debt about one percent per year”.

These results are part of a large study that looked at the indebtness of Europeans. Four countries, France, Germany, UK and Spain account for two thirds of the mortgages taken out by individuals in Europe.

The study also found that Northern Europe counties like Germany, UK, and Netherlands, have real estate owners more in debt than their southern Neighbors like France, Spain, Portugal and Italy.

If you read French you can read the full article here

If you would like assistance locating an English speaking French mortgage  broker we can assist you. Contact us here.

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At which French notary’s office do you sign the act authentique in France?

In France, all parties to the sale of a French residential real estate property sale typically sign the acte authentique at the sellers’s notary’s office.

Unless, parties to the contract have given their notary a power of attorney.

Or unless, of course, the same notary is working for the buyer and the seller.

Confirm where the signing will take place with your notary, to be sure, things can change.

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What does belle hauteur sous platfond mean in a French real estate ad?

The French real estate term ‘belle hauteur sous platfond‘ generally means ‘nice height under the ceiling’. In an English real estate ad you would see the phrase ‘high ceilings‘. Typically this statement indicates that the property is in an old French building but as always you have to confirm this since it could be a renovated modern buildings.

High ceilings make all the difference here since apartments in France can be very small and a high ceiling reduces that closed in feeling.

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Why to Buy French property during the Christmas Season Advantages and Disadvantages

Looking to buy French real estate at Christmas time can be to your advantage based on the following reasons:

Advantages:

French Tax Reasons

Some home owners want to sell their real estate in France before the end of the year for tax reasons. This could give you an advantage in the area of negotiating a nice deal

Serious Property Sellers

A French property owner who is on the market at Christmas time is a serious seller who will be more likely to listen to your offer and be more willing to make a deal even if they do not have to sell for tax reasons, perhaps they have already made a purchase and they want to sell now.

Less French Buyers

At this time of year you will be competing with less buyers since most buyers will be busy entertaining friends and family. This means you are more likely to be first to get to see a good deal when it arrives on the French property market.

Disadvantages:

French Financing Approval

Getting Financing in France takes time and during the holiday season it will most likely take longer or in fact be impossible. If you can buy without financing you will indeed be in a better position to make the best deal possible when a seller wants a deal done as soon as possible.

Signing of the Deed of Sale

Just like finding financing around Christmas time in France finding a notary available during the holiday season could be difficult. So if you plan on buying during Christmas time make sure you have connected with an English speaking French notary a head of time to make sure they are available to make the contract.

If you know the area in France you wish to investigate  contact us and we can put you in contact with an English speaking French real estate agent.

Below you can get your free introduction ebook about French real estate mistakes to avoid

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

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