Avoid mistakes. Understand how the French real estate buying process works with ESREA France
Buying French real estate is a complicated process and this is why we have over 800 educational articles on this site to assist you.
To enhance our ability to assist you we now have a YouTube video channel and we are slowing adding valuable content for you to compliment what is on this site. Check out the below video on an important tip to consider when inspection a French property during a visit.
You may also wish to check out our 110 tip French property buyer’s guide here
The time to sell a French property is taking longer and longer according to a new article in Explorimmo. In 2011 it took on average 78 days, in 2013 it took on average 90 days and in 2014 it took on average 95 days.
These are averages so the amount of time may be different in the area you have your French property.
Read the full article in French here
Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.
The droit de mutation is essentially a French property transfer tax. The amount of the tax depends on the purchase price of the French real estate you are buying since the tax is a percentage of the sale price.
If you read French there is a comprehensive graph in this article that helps explain the current percentage ‘droit de mutation’ in France. It also indicates the potential increase of this tax that will take place sometime in the early part of 2014.
So if you plan on buying French real estate it is important you speak to an English speaking French notary to determine the impact on the cost of your purchase.
Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.
French property owners debt is approximately 85 percent of the household debt according to a new study done by Credit Foncier and le cabinet Asterès.
Nicolas Pécourt of Credit Foncier quoted in French in Le Monde and we translate into English “That since 2004 French real estate owners are increasing their debt about one percent per year”.
These results are part of a large study that looked at the indebtness of Europeans. Four countries, France, Germany, UK and Spain account for two thirds of the mortgages taken out by individuals in Europe.
The study also found that Northern Europe counties like Germany, UK, and Netherlands, have real estate owners more in debt than their southern Neighbors like France, Spain, Portugal and Italy.
If you read French you can read the full article here
If you would like assistance locating an English speaking French mortgage broker we can assist you. Contact us here.
Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.
Looking to buy French real estate at Christmas time can be to your advantage based on the following reasons:
Advantages:
French Tax Reasons
Some home owners want to sell their real estate in France before the end of the year for tax reasons. This could give you an advantage in the area of negotiating a nice deal
Serious Property Sellers
A French property owner who is on the market at Christmas time is a serious seller who will be more likely to listen to your offer and be more willing to make a deal even if they do not have to sell for tax reasons, perhaps they have already made a purchase and they want to sell now.
Less French Buyers
At this time of year you will be competing with less buyers since most buyers will be busy entertaining friends and family. This means you are more likely to be first to get to see a good deal when it arrives on the French property market.
Disadvantages:
French Financing Approval
Getting Financing in France takes time and during the holiday season it will most likely take longer or in fact be impossible. If you can buy without financing you will indeed be in a better position to make the best deal possible when a seller wants a deal done as soon as possible.
Signing of the Deed of Sale
Just like finding financing around Christmas time in France finding a notary available during the holiday season could be difficult. So if you plan on buying during Christmas time make sure you have connected with an English speaking French notary a head of time to make sure they are available to make the contract.
If you know the area in France you wish to investigate contact us and we can put you in contact with an English speaking French real estate agent.
Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.