Real Estate and Property Arrangements in France

One of the services of icatch GmbH is the arrangement of real estates in France. Our area covers momentarily Southern France (Aquitaine, Languedoc Roussillon, Midi Pyrénées, Provence Alpes Côte d'Azur), Burgundy (South Burgundy and Bresse), Limousin and 'Ile de France'. To be able to do so we co-operate with carefully chosen partners in France. We work continuously to increase this area

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Why a House, Farm or Castle in France

Again and again the question posed. Why should we buy real estate in France? This is a very personal affair. Most frequently this thought comes from the need, to have somewhat own and payable, or e.g. to own a holidays domicile. Other or additional motives can be to acquire itself a house property for after the retirement or simply as investment. Naturally also all aspects can play a role. The demand is unbroken and the prices in the last years show a rising tendency. In addition France is an expressed holidays country and is very varied.

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How does it work

The objects offered by the owners for sale are usually proposed by different agencies. Foreign objects, real estates which is not property of the one offering it, may only be sold through by the State recognized agencies or persons. In order to achieve a possible broad public, these agencies co-operate closely with different representatives outside of France. For you as a buyer this does not result into additional expensest. Let your local representative be of help to you!

If you did found e.g. a house or a farm, which interests you, agree upon a date with the respective agency. In order to be able to visit the desired object, a so-called ' bon de Visite ' is then signed. Therein you commit yourselves, if you buy the respective object, to buy it via the agency having presenting it to you. Why? As previously mentioned, the same real estates in France are offered by several agencies. This means much expenditure, which must be back-earned again. Please note that except e.g. for interpreters no costs for you on the part of the agency should occure, until one turns into to the purchase.

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If you buy the object, first a preliminary agreement (' Compromis de Vente ') is signed. Starting from signature date the object is reserved for you. Note that the purchase thereby is a decided thing. Only if you indicate, a mortgage to need and you do not succeed for it, (the agency will be helpful to look for a bank for you, which must be accepted then) you will be able to withdraw from the contract. As soon as you signed this preliminary agreement, a pre-payment of approx. 10% of the purchase sum becomes due. This amount is transferred to a blocked account of the respective notary. If you should want to withdraw for possibly ground from the contract (except the condition mentioned above that a financing does not come), this pre-payment is lost. If however the seller retreats, you get the money returned.

We already mentioned the notary. It is the only instance in France, which is authorized by the state to accomplish a real estate passage of ownership. Therefore it lasts most approx.. 2 to 3 months to the purchase by the signing of the agreement (' Acte de Vente ') with the notary one seals. The notary does e.g. clarify among other things pawns on the object, whether the object is free from debt, rests etc. in this time. Briefly said, thereby it is guaranteed that you can take over the real estate with calm conscience. Structural risks remain however, because frequently - especially with older buildings - real estate is transferred in the condition, how it is. With other words, there is then no warranty on fabric of the object.

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Which costs do arise

Up to the purchase no costs from the Agenture should result on you. Only with the purchase and passage of ownership costs of the object and notary costs are passed on you. These amount is usually approx.. 7% to 10% of the purchase sum. The passage of ownership costs are a mixing calculation made of property, kind of the object (surface, size) and selling price. Please consider that the total costs rise proportionally, the more favorably the object is. This is because of the fact that the notary charges for a fixed amount is prescribed by the state.

Once you acquired the house, possible costs in general for 'Taxe foncière ' (property tax), 'Taxe d'habitation' (inhabitant-taxes), water, electricity, telephone charges and waste fees of the municipality do arise.
real estate south of france

Where should you pay attention to

As soon as you signed the preliminary agreement (' Compromis de Vente '), the already mentioned pre-payment of approx. 10% of the sales value becomes due. Make sure that the check is issued on the name of the notary in charge, or that you receive the bank details of the blocked account of the notary. They should transfer the pre-payment in no case to another name than that of the notary. This applies also to the payment of balance of sales. This is likewise transferred to the notary (with a mortgage the money is transferred to the notary by the bank).

With objects, which are considered as habitable, becomes a legally mandatory investigation ('sur le saturnisme et amiante') to determine whether in the building lead or asbestos containing building material (color, isolation, covers etc..) are present. If so, you are made attentive on it. This comes to carrying only if renovation work on the object is accomplished. You are then obligated to refer the respective enterprise or the workers to it so that they can protect themselves accordingly. This investigation goes at expense of the salesman! If the house is not habitable, only for asbestos containing materials is examined. In the south of France it is also usual that the wood work is examined for a possible wood termite infestation ('au regard de lal lutte contre les termites').

At the signing of the agreement ('Acte de Vente ') it is to be noted that you should be in the possession of a valid property insurance. This is mandatory in France.