The French real estate market at the time you read this could be a buyer’s market meaning the buyer’s have opportunities to get a ‘good deal’ on a purchase. The key is for French property buyer’s to find the signals that indicates a property price is negotiable.
Here are 21 potential signals to help you see if a French property price is negotiable:
One
The Property is Over Priced
Of course all French properties will be said to be over priced by buyers but indeed if you can actually check the market pricing and do a comparable study (just like a French real estate agents do) you will be able to decide if a property is over priced or not. Then you can use your results to approach the seller to reduce the price to sell.
Two
The Property is on the Market over 3 months
Often we have heard it takes 6 months to sell a French property maybe even a year but we have French real estate agents who say that a French property will most likely sell in the first 3 months if it is priced right. If it is still on the market 3 months later most likely the problem is the price.
Three
Property has one of more of the following 19 Defects or Non-Desirable Features
If a French property has one or more of the following you can start to negotiate.
One
An apartment is on a higher floor in a building without an elevator
Two
An apartment is on ground floor or first floor – less desirable since it is generally darker due to a lack of sun exposure
Three
If the main living room area is not South facing it will not be as bright as most people desire. e.g. East or North facing properties.
Four
If there is street noise from traffic or businesses this can make a property undesirable.
Five
If there are not noises but smells from a restaurant or factory or even a bakery this can make a property undesirable
Six
If the property is overlooked by neighbors balconies or terrasses
Seven
If the floor plan does not allow for easy arrangement of furniture or if the plan does not allow for easy renovation to add an open style kitchen or second bathroom or needed storage
Eight
If the building is unattractive in color or design
Nine
If the garden or property is difficult to use or maintain since it is terrassed in a step down fashion or hilly instead of flat
Ten
If the neighborhood does not have a good reputation
Eleven
If the apartment has finishing that is out of date or has undesirable newer finishing such as stucco interior walls
Twelve
If a major road will be built in the future close by the French property
Thirteen
If the current view will be blocked by future construction
Fourteen
If the building needs repairs to the exterior or other areas
Fifteen
If there is not easy access to included parking in an apartment building
Sixteen
If the electricity or plumbing is out of date and needs updating
Seventeen
If the property is not very energy efficient
Eighteen
If the property contains asbestos or lead
Nineteen
If no parking is included and it is not possible to rent or buy parking close by, you have another reason to ask the seller for a price reduction.
With careful negotiation you can find a way to use the above items if present to help you get your ideal purchase price on a French property. Be aware when negotiating you need to avoid annoying the seller, your goal is to show them the items present reduce the market value in your eyes and in the eyes of other buyers. You have to justify your reasong when possible.
It took me years to become a good negotiator, I can teach you more in a one on one consultation or you can make sure you are working with a skilled English speaking French real estate agent. Go here to contact me if you need more assistance.
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