November 2015 French Historical Pricing Index including Graph.
If you are curious to read and see details on the long term trend in the French Housing Price Index please follow this link
Freddy Rueda on Beziers in the South of France
Breaking News: Ten French Banks lower Mortgage Rates
November 2015: According to Vousfinancier, ten French banks have decided to lower their interest rates on French property mortgages.
After we experienced a short period of increase in French mortgage rates ten banks have lowered their rates from 0.10 to 0.20% on average.
Perhaps, it is to stimulate a French real estate market place that is typically quieter in the later months of the year.
Perhaps, it is to stimulate the overall French economy.
Regardless, as a French property investor you have an opportunity to make a purchase at a lower mortgage cost once again.
If you need to contact an English speaking French mortgage broker to learn more we can help you.
French Property Problems that you can Avoid
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.
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.