Are you dreaming of buying a property in France and spending
your holidays or even all your days in your own French home?
Estate Net is the specialized real-estate agent capable
of offering you a full range of solutions.
The French real-estate market is currently enjoying a
period of strong growth and the number of properties available
on the market regularly falls short of demand. The diversity
of landscapes and architectural styles can't help but satisfy
any expectations regarding a principal residence, a second
home or rented property and with the help and services you
can expect to enjoy from Estate Net, you will find it easy
and safe to purchase, sell or rent. Please also note that
up to and including the signing of the contract for your
new home, our services are totally free of charge to you
as a purchaser. However, should you wish to use any of our
wide range of optional after sales services then please
request details and costs from Estate Net.
Whatever the region, type of property you're looking for
or your budget, the wide variety of real estate available
on the market means that you will always be able to find
a property that corresponds to your criteria. But to help
you make the acquisition process as trouble-free as possible,
here are a few words of practical advice:
Decide your budget
What property at what price? This is the first question
to be asked! Everything will depend on the region, the position
of the apartment or house (overlooking the sea, for example…),
the kind of property (château or country cottage…)
and its state of repair. In France, the price range is extremely
wide for a house and garden.
How much can you borrow?
It's obviously important to determine how much you can put
down immediately and make the necessary calculations to
ascertain how much you need to borrow. It's easy to determine
how much you can borrow by deciding how much you would like
to reimburse every month. Remember that your monthly repayments
should not exceed 30 to 40% of your monthly income. By using
Estate Net to arrange your financial needs we will make
sure that you will benefit from our good bank relations
in France. A loan in France would give you an interest rate
of approx. 4,5% over 20 - 30 years on a 80% loan of the
purchase price.
Find the house of your dreams
You can find the house of your dreams by using Estate Net's
services. Simply search our online database or fill out
and send us the property preference form and we will conduct
a detailed search for a property based on your specific
wishes. Then, carry out a full and rigorous examination
of the property and don't hesitate to take detailed notes
that will help you to compare offers calmly and in your
own time when you're ready to make a decision.
You decide to buy
You have found the property you would like to acquire? You
now need to 'reserve' it, i.e. commit yourself by signing
a contract, known as a "compromise de vente" (provisional
sales agreement), or sign a "contrat de réservation"
(reservation agreement) when buying new property. This stage
is a major step and you will now be legally and financially
committed with limited possibilities for withdrawing from
the agreement. Your Estate Net representative will help
you through this process step-by-step and make sure you
fully understand everything before signing.
Contrat de réservation
- reservation agreement:
A contract - by virtue of which a buyer reserves a property
to be purchased from plan. This provisional real-estate
sales agreement is the legal equivalent of a compromis de
vente.
Compromis de vente - provisional
sales agreement:
This is a provisional contract used for the acquisition
of a property or building land. This expression is habitually
used for the promesse de vente (unilateral agreement to
sell). This contract lists the names and addresses of the
seller and buyer, their reciprocal obligations, the description
of the property in question, its surface area and price.
It also lists the conditions of avoidance making it possible
to terminate the agreement, notably the buyer's failure
to obtain a loan (or planning permission in the case of
the acquisition of building land). If these conditions cannot
be met, the agreement will be declared null and void. When
the provisional sales agreement is signed, you will be asked
to pay a deposit by the seller. If the buyer withdraws from
the agreement before signing the legalized deed of conveyance,
the seller is entitled to retain the deposit. If the seller
wishes to withdraw from the agreement, he must pay the prospective
buyer twice the sum of the deposit.
Take out a loan
Contact us for details of information required for taking
out a loan.
The deed of conveyance
A public notary who ensures that all legal provisions have
been respected and guarantees the authenticity of the contract
must draw up the deed of conveyance. The notary retains
the deed of conveyance and gives a copy to both signatories.
Allow up to 2 to 3 months between the signing of the provisional
sales agreement to the moment you receive the final deed
of conveyance. Estate Net will join you at the notary meetings
or do the notary meetings on your behalf to ensure that
everything is done correctly.
Conveyance fees
Apart from expenses due to the public notary (invoices settled
by the public notary on behalf of the purchaser), the purchaser
must pay a main so-called transfer tax (taxe de mutation)
equal to approximately 5% of the selling price, and various
other taxes (property registration, stamp duty, VAT on new
construction). These costs can amount to between 6% and
8% of the selling price, but again is subject to each project
or property. Be sure to ask us for the details of the specific
property you wish to purchase.
Insurance
Don't forget that as a real-estate owner, you are responsible
for any injuries or damage your property may cause to a
third party (e.g. a tile falling on a passer-by, water damage)
or capital loss. You must take out comprehensive household
insurance.
Group acquisition
Perhaps you would like to join with others in acquiring
a holiday home, perhaps with other members of your family
or with friends. In this case, you would be advised to acquire
a house by setting up a société civile immobilière
(a non-trading real-estate investment company).
