1 France Buying in France
From Peter Esders, Judicare
judicaregroup.com
Buying costs The costs of buying will depend on whether this is a new property or a resale property, as there are signifi cant tax diff erences between the two. A resale property typically costs around eight or nine per cent of the value of the property, but a new property may cost in the region of 30 per cent (most of which is taken up by the equivalent of VAT on the property). Therefore, if you are looking at a new property it makes huge sense to understand whether the price being quoted is inclusive or exclusive of Vat.
Transaction time France can be quite bureaucratic, and therefore it can take between 10 to 12 weeks for the transaction to take place.
Process The French buying process is structured and formal. The notary (notaire) in France gets involved a lot more than in many other countries, and even gets involved in the signature of the initial purchase contract. If you are buying with a mortgage, there is a cooling-off period built into the process, whereby you can change your mind about buying. The contracts are often signed prior to carrying our searches, which may seem strange. However, with the cooling-off period and clauses allowing the contract to be “subject to searches”, this rarely causes a problem to buyers.
Beware Searches in France are often more extensive than in other countries, as is the use of surveys. Termite searches are compulsory in certain areas.
“T e French buying process is structured and formal”
For our French buying guide, visit
€520,000 (£442,300)
‡ Nineteenth-century home on three fl oors ‡ Four bedrooms ‡ Recently modernised, with open fi res and original features ‡ 240m2
on a 30,000m2 plot
‡ Country and river views ‡ Gym and outbuildings (easily converted to a hangar) ‡ Plenty of room for an airstrip ‡ Village with amenities three kilometres away
For more details: Home Hunts,
home-hunts.com
T ey like: ‡ We like how they’ve kept the interior features, especially the superb kitchen with island unit, wooden fl oors and original stone walls
‡ It’s got real character and a nice big garden ‡ Location next to a wine-growing village is defi nitely a plus
T ey dislike: ‡ It’s set on a hillside with trees. T at makes fl ying into it too diffi cult, as trees cause turbulence
‡ Being terraced, the garden will be a challenge to maintain ‡ It’s too far from the sea, and isn’t within walking distance of any shops ‡ Even knocking a bit off in negotiation, it’s too expensive
Where: Near Narbonne, Languedoc-Roussillon
30 |
aplaceinthesun.com
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