Essential buying tips 4


10


Key aspects to consider when planning your French property purchase


1


KEEP YOUR OPTIONS OPEN Choosing to buy


somewhere you’ve enjoyed a break can be a good idea because it means you already know the area, but what strikes you as charming on holiday might be less appealing all year round. By considering other regions, you may even fi nd the property you want at a lower price!


2


BE PREPARED Before you book a viewing, it is advisable


to get your fi nances in place. Not only will you know what you have to spend, you’ll be ready to move quickly if you fi nd ‘the one’. Speak to a French mortgage broker to fi nd out your options (read more on p26). Using a foreign exchange company is also recommended, to make the most of your budget and ensure you get the best rate – contact a currency company as soon as you start looking for a property (see p18).


3


CHECK WHAT THE PRICE INCLUDES


The prices displayed in a property advert should include the agent’s fees (4%- 10%). However, the notaire's fee will be on top (which includes various taxes as well as the actual notary fee). So make sure you consider all the fees and can keep within your overall budget.


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PLAY IT SAFE Always use a properly registered agent – you


can ask to see their obligatory carte professionelle. And never pay part of the sale price as cash ‘under the table’ – apart from being illegal, it could result in a higher capital gains tax bill when you later sell the property.


5


DON’T GET CARRIED AWAY It is easy to be tempted


by rambling properties with a large garden or a few acres of land. Be realistic about how much space you need – and are prepared to look aſt er. Think too of the higher utility bills and property taxes you’ll be paying.


6 7


PROTECT YOUR DEPOSIT The compromis de


vente sales contract sets out the key terms of your purchase. It is recommended that you see an English translation or employ an English-speaking notaire or other legal adviser to ensure you understand everything. If you back out aſt er signing (and the 10-day cooling-off period), you could lose your deposit, which is generally around 10% of the sale price.


KNOW WHAT YOU’RE BUYING Although surveys


aren’t commonplace in


France, there are various anglophone surveyors who cover French property. A survey will ensure peace of mind that you understand exactly what you’re buying and if the property will require any work. You can ask the notaire to include a clause suspensive in the compromis de vente stating that your purchase is subject to a satisfactory survey (although note that the vendor will have to agree to this).


8


TAKE THE INITIATIVE Once the compromis is


signed, the notaire will begin searches on the property, including land registry, rights to ownership, boundaries and rights of way. However,


For lots more useful articles about buying a property, including the latest property market and travel news, in-depth guides to living in France, thousands of properties for sale across France, and our free newsletters, please head to: frenchentree.com


this doesn’t cover private planning permissions that may exist near the property. Ask the agent or visit the mairie (town hall) to obtain this information.


9


UNDERSTAND THE TAX IMPLICATIONS


If you are planning on buying a property in France, you should familiarise yourself with the various tax regulations before you make the purchase. The French rules can be complex and professional advice is usually invaluable. (Read more on p14.)


10


BE THERE FOR COMPLETION Ideally, you should


be present for the signing of the acte authentique/acte de vente as the fi nal contract has a clause saying 'sold as seen on signing date’. If you can’t attend, you can arrange a power of attorney or do it via a secure e-signature platform.


Expert Guide 9


TOP TIPS


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