Author: The ESREA France Team

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What does État des lieux mean in French real estate?

État des lieux is an inventory of fixtures in place and the condition of the fixtures and French property that is made by the owner or agent for the owner at the beginning of a lease of a French property. This inventory is repeated for the French property at the end of the lease.

Read more details in French about this process on the French government website

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French Bank Survey reveal Less Oveseas Buyers in France

In general, according to an article on Property Wire based on a survey from the French bank BNP Paribas, overseas buyers are buying less French property.

The overall percentage is a 29 percent drop in the number of non residents buying in France in 2012 compared to 2011.

However, this amount varies according to region. Ile de France had 4 percent less Foreign Buyers while Aquitaine saw a 48 percent drop.  Poitou Charentes was the only region seeing an increase of a full 4 percent.

The British and Italians are buying less property at this time, however, the percentage of Russian buyers is up 27 percent.

Note: according to the survey Russians are not buying multimillion euro properties as people generally think, in fact the average sale price of a property purchased by a non-resident Russian is 700 000 Euros.

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What does a carte professionnelle permit a person to do?

A carte professionnelle can give the right to an individual to operate a French real estate business and charge for their services.

You can ask a French real estate agent to show you their carte professionnelle so you know they have the right to be serving you as a ‘agent immobilier’.

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5 Important Things French Homebuyers Do Not Know

When you are buying a property in France or any part of the world there are some things many home buyers don’t know but need to know.

We received an article that is just as valid in the French real estate market as in North American. It talks about these five important items.

For example,

One

Many home owners do not realise that when they are buying a French property they are buying two things, the home and the financing.

In general, when interest rates rise a property long term becomes much more expensive. The monthly payment is always the key.

Some people negotiate with the owner on the purchase price of a French property when they need to make sure they negotiate even more with the French bank officer.

Read the five tips in the full article in English here  you will see how the article written for the North American market is just as valid here in France.

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What is a Succession in French real estate?

When you are buying French real estate you may see an advertisement stating the French word ‘Succession’. This term is typically used when a property is being sold due to a death in a family. In English, in general, we would refer to this as an ‘inheritance’ of a property.

Make sure you fully understand the nature of purchasing a property that is part of a ‘Succession’ as it can be complicated. Speak to your English speaking French notary for advice.

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