Avoid mistakes. Understand how the French real estate buying process works with ESREA France
If you are considering selling your French real estate you will value the seven tips we put together in this exclusive article that we were asked to write for the popular online French newspaper The Local FR.
When you read this article you will learn about:
What is the value of the Eiffel Tower in Paris?
The Eiffel Tower is not for sale, however, Patrice Moncan an expert in French real estate has proposed in a recent article in Explorimmo a very nice value on one of the most recognized tourist attractions in the world.
Moncan estimated that if France decided to sell the Eiffel Tower today the value would be 434 billion euros.
Read more of the history of the Eiffel Tower here.
If you read French you will find estimates on the values of other French historical monuments very interesting. Go here for the article in French.
French Property Buyer Be Aware of This BIG Mistake
Buying French real estate is an emotional experience and for many people a dream come true, however, no matter how exciting the experience is when you find your dream French property remember to avoid the following mistake when you make an offer to the owner.
**** Do not write an offer without including conditional clauses that you will need to protect yourself in the purchase of the property. That is, for example, when you make an offer in price note that details like the fact that you will be buying subject to you obtaining a mortgage the details of which will be explained in the initial contract of purchase and sale (compromis de vente).
We have heard stories of buyers who make an written offer just noting the price and with no details about conditiona, for example, the usage of a mortgage or a property inspection and then when these requests are written into the ‘compromis de vente’ the seller refuses to sign saying he or she agreed only to the price if there were no conditions.
Protect yourself get legal advice before you make an offer on a French real estate property.
The above image give you a taste of the wonderful beauty of Eze Village that is located high on a cliff over the mediterranean sea between Nice and Monaco on the French Riviera.
Owning French real estate in Eze would be a dream come true.
Check out the short video below that shows you some of the side streets of Eze village many people may not know about.
If you would like to speak with an English speaking French real estate agent who is a specialist in Eze on the French Riviera or another part of France please contact us and we can connect you at no charge for our assistance.
Brexit note: The French real estate market in particular in Paris may get a boost from the results of the vote by the majority of UK residents to leave the EU.
Several international banking institutions in particular those from the US namely JP Morgan Chase, Goldman Sachs, Bank of America, Citigroup and Morgan Stanley have started to investigate moving their operations out of London, England to several locations including Paris.
If this does indeed happen this will mean that some of the money from the banks employees will most likely be spent now in the Paris real estate market instead of the London real estate market.
Brexit could be good news for French real estate.