Buying real estate In France

For those looking to purchase a property in France here are some tips to take account of.

The French property market is highly attractive to outsiders.

Foreigners can purchase real estate without any rerstrictions but the laws governing the purchase and re-sale can actually depend on the type of real estate and the location of real estate.

For example the laws relating to the buying of forrerstry land will differ to the rules governing the buying of a freehold house.

You should always seek the advice of an independent solicitor when buying any real estate- especially if buying in a foreign country.

The buying process France is usually as follows:-

The seller and purchaser agree on a buying price.

A solicitor will write up a legally binding contract which both parties then sign.

A 10% deposit is paid at this point. This deposit should be held in a secure account until the purchase completion.

Surveys and checks then begin and the property is withdrawn from the market.

If the purchaser pulls out of the contract at this point the deposit would be lost.

When due diligence have been completed satisfactorily, a contract will be signed by both the seller and purchaser at the Notary’s office.

The deeds will pass to the purchaser, the land registry will be updated and the remainder of the purchase price is paid.

The fees you can expect to pay are as follows:-

1) The Notary fee will be about three percent of the property price.

2) Transfer tax seven point five percent (less than 1% for properties)

3) Registration fees will be around another six percent.

3) Estate agents fees can top 15%, but are normally between seven and eight percent - please check whether you are liable for these before you go ahead with buying real estate.

For more information on buying a property in France please visit
http://www.hauteviennehideaways.com

Article Source: http://www.real-estate-article-directory.com

The French Property Guru www.hauteviennehideaways.com

Please Rate this Article

5 out of 54 out of 53 out of 52 out of 51 out of 5 

Not yet Rated