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Tips on Buying (and Selling) a House in France I know it is stating the obvious, but property transactions are very different in France to the UK. France unlike Britain is not obsessed currently with TV makeover programmes, and houses in France are not treated like the very highly valued possession that they are in the UK. Drab interiors are a real turn-off to buyers, so vendors please note - put on a few lights and make the house welcoming. If you are here on a house-hunting mission, it is important to have a clear idea in your own mind about what you are looking for. The style of property here is so diverse that it is easy to sweep from one style to another, leaving you confused (not to mention your agent)! You need to also consider which areas you are prepared to compromise upon and which you are not - and do convey that to the agent trying to find you a property. Do not necessarily be put off a property by a rather drab exterior, it might just hide a gem of a property with super features inside. Consider in advance how far you want, or need to be from shops and also other connections such as stations, airports and autoroutes. If you have children, you will also need to take into account schools and colleges. Also have a good idea of how much land you want to own. There is a great temptation having owned a pocket-handkerchief in England to opt for acres of land in rural France, but just think about the management of this, especially if it is a holiday home. The grass here in the Poitou Charentes grows at phenomenal rates in Spring and in the Autumn. Vendors - keep the garden tidy and at least the grass cut. It doesn’t need to be manicured, just smart. Do also bear in mind the orientation of a house. A south facing house will benefit from the sun in winter months to keep the rooms warm, but may be unbearably hot in the summer unless it is stone with the windows have shutters. (A note for vendors, do open shutters when having photos of your property taken, and try to make the rooms as light as possible by drawing curtains back). Be realistic about the sort of work that you consider taking on. Evaluate carefully how much time and perhaps more importantly money any renovation work will take. Don’t saddle yourself with too much work if it is a 2nd home - the novelty of renovation will soon wear off and progress will be painfully slow. We prefer to show our client 4-5 properties during a day, and spend some quality time at the property and with the clients as opposed to driving for hours and viewing 7/8 unsuitable properties. After a viewing do give your agent as much feedback upon a property as possible. It may save time later looking at something totally unsuited. When you are at the property ask the vendor any questions that are relevant to the sale. This may include the local taxes, fuel consumption and so on. The question why are you leaving and how do you get on with the neighbours is hardly likely to reveal anything to your benefit. Vendors, do get prepared for these questions, have utility bills and tax notices available, it is much easier that trying to locate paperwork of giving a guesstimate figure. To demonstrate that you are a serious buyer it is a good idea to get your finances in good order before you start searching. If you are likely to need a mortgage, get one agreed in principle in advance, you are then as good as a cash buyer in the eyes of the vendor and the agent. If you are lucky and don’t need finance, it still pays to have a currency facility opened. Specialist currency firms offer more attractive rates that High Street banks and can offer forward contract enabling you to lock into rates when they are most advantageous. Typically, by using a good currency expert, you can save more money that you will be able to negotiate in a reduction in the price of the house. Generally we always recommend that any deposit is paid to the Notaire as opposed to the agency. As a word of caution to vendors, be wary of potential buyers offering to buy subject to a mortgage or their own house sale. This can waste a lot of time and unless you are in full agreement, keep the property on the market until they are in a position to sign unconditionally. Once you have found a property that meets your criteria, don’t dither. If it puts the ticks in the boxes, go ahead and make an offer. More bad decisions are made through indecision than by actually making an incorrect call. Too many clients reflect upon a property for 24/48 hours only to find that is has sold in the interim time. If you are not certain about a house, don’t make an offer, it is a waste of everyone’s time. Be sensible about offers. Anything above 10% reduction in the asking price may be considered an insult by a vendor. Often an agent will be able to guide you if they feel that a property is open to offers. In agreeing the contract, or compromis de vente, make
sure that you include what clauses you feel you need to. This may include
remedial work on timbers being carried out at the vendor’s expense,
or perhaps subject to an existing right of way being removed. This is
the time to get things done, afterwards is normally too late. Make sure that you have proper insurance in place before the purchase. Don’t rely on taking over the vendor’s policy. It may be poor value for money and we have found instances of where the vendor had no insurance in any case! Also consider Title Insurance as a peace of mind policy, available at low-cost on a one-off payment this is good value for money. When we arrange insurance on behalf of our clients, we arrange for the Insurance Company to forward an “Attestation” to the Notaire confirming that the cover is in place. In conclusion, we try to prepare our clients for the job of finding their dream home here in France by
Peter Elias of Allez-Francais offers all of these services to clients buying or selling in the Poitou Charente area. The excellent website www.allez-francais.com offers a wealth of useful information, property for sale and a variety of forms that are available as downloads. Bon courage! |
