Avoid mistakes. Understand how the French real estate buying process works with ESREA France
There is a piece of French real estate in Montpellier in the south of France designed by Maison Edouard Franҫois.
There are “balcony-gardens” for dining, “balcony-cabins” for privacy, “balcony-lookouts” for viewing the surroundings… however, what is most amazing is the building actually grows!
Then click through the arrows at the top of the page to see more remarkable examples of French real estate by Maison Edouard Franҫois. Enjoy!
You are selling your French property and you are working on choosing an agent. Here are some guidelines to assist you so you pick the best English speaking French real estate agent to serve you and avoid the big mistake of choosing the wrong agent for you:
One
Ask the agent to show you examples of the marketing they will do compared to other agents. Ask them to demonstrate what they do better.
Two
Ask the agent to tell you how they will represent you and your home when a visit is done with another agent. Are they really working for you and showing the value of the property or do they just want to make a sale at any cost to you?
Three
Ask the agent how much private information about your situation that can impact your ability to maximize your sale price does he or she disclose to a buyer who contacts them directly
Four
Ask the agent why you should pay them commission.
Five
Ask the agent how quickly do they work with other agents from other agencies?
For example, do they market to other agents in their network immediately after they get the mandat with a willingness to share commission or do they wait till they can’t find a buyer in their own database.
You want to make sure the agent is working to getting you the maximum market exposure.
Six
Ask the agent what recommendations does the agent have to help you effectively prepare your home for sale? The agent is working with buyers all the time and should know what turns ‘on’ or turns ‘off’ a buyer interest.
Seven
Ask the agent are they fluent in French as well as English so they can interact potentially with the maximum number of agents and potential property buyers.
If you are looking for more guidance on how to choose the right English speaking French real estate agent contact us. Yes we are in the industry and we want you to get the best service possible.
When you buy a French property make sure you buy the property in a manner that is affordable for you long term.
Sometimes in the rush of emotion that comes with buying a beautiful property in France buyers borrow more money that they should to make the investment.
Be aware that even if the bank will loan you a large amount of money based on your current income you need to ask yourself will this investment make you cash poor if somehow circumstances change in your life. Cash poor means most of your income goes to pay the credit on your French property.
Always make sure that the percentage of your income that is used to pay your French property mortgage is (according to the French financial experts) no more than 30 percent of your monthly income.
Need more accurate financial advice we can place you in contact with an English speaking French mortgage broker at no cost to you. Contact us here.
When you buy a French property avoid this mistake:
Make sure you buy the property for the location and the features of the property but do not buy the property for the view unless you have control over the land between you and the view.
Why? Many times a new building can show up in front of your French property blocking the view even if the rules did not permit it to be constructed when you bought. Why? Rules get changed.
Protect your investment and your peace of mind by buying the French property you love but not just for the view.
12 French banks have increased their interest rates since the middle of May 2015.
According to VousFinancer as announced in Explorimmo.
The increase may not be much, however, it always makes a difference.
Worth noting: it does appear that all the French banks will not raise their rates at the same time since they still want to encourage buyers to come to them to ask for loans, however, it does appear to be the end of the falling French mortgage rates that began in 2012.
If you wish to renegotiate your mortgage on a French property or find out now an estimation of what you can afford to borrow, we recommend you speak right away to your French bank adviser. They are getting busier and busier at this time due to increased demand as a result of the low rates.
If you would like us to help you connect with an English speaking French mortgage broker just ask. We will do this at no charge to you. Just contact us here.
Read original article in French here