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|Property: 1234094 House for sale in Anthéor Seaside |
1 100 000 €
|This splendid,recently built villa is located in a peaceful setting inside a secure and enclosed residential area. From the property you enjoy a breathtaking view of the Mediterranean sea and the red rocks of the Esterel. The villa comprises 5 bedrooms, a huge reception area with open plan kitchen, dining and sitting corner. There are 4 bathrooms, a big cellar and a large garage. Additional features are air condition and electric blinds. The property is south facing and benefits from a beautiful terraced garden and a huge mosaic tiled swimming pool with overflow.|
|Property: 1221079 Apartment for sale in Cannes Seaside |
980 000 €
|Located in the neighborhood MONTFLEURY for any walk, this apartment entirely renovated in 2015 with a stay of 60sqm, open kitchen, 2 bedrooms, 2 bathrooms, 2 toilets has a beautiful terrace with 180 degrees sea view hills, 2 garages, a large cellar and a secure car park for guests. To see quickly!|
|Property: 1212948 House for sale in Grasse Countryside |
1 030 000 €
|Set in an idyllic and calm area of Grasse, this beautiful villa benefits from a marvelous open view over the surrounding countryside and greenery. The villa has been entirely renovated, keeping the Provençal charm, but using modern quality features like hand made metal shutters, a water softening system, air condition etc. The villa comprises 4 bedrooms, a big living/ dining room, 2 bathrooms, a kitchen, an office and a laundry room on the lower level. The property offers a pretty sunny terrace, a beautiful swimming pool and a well kept garden. Garage for 2 cars.|
|Property: 1126145 House for sale in Théoule-sur-Mer Waterfront |
930 000 €
|Lovely 3 bedroom bungalow villa with 180 degrees sea view in the calm area of Miramar - Theoule Sur Mer. Large private swimming pool, garage, car port and parking for 2 additional cars.|
|Property: 1117480 House for sale in Mougins Hills |
2 790 000 €
|This splendid villa is located in a private residential area close to the old town of Mougins, offering high class finishing on 300 square meters of living area and is surrounded by a beautiful landscaped garden of 2000sqm. The property benefits from a fabulous view to the old town and the sea. The villa offers a nice big living room opening onto the terrace with access to the heated swimming pool and comprises 4 bedrooms, each with bathroom, 1 of them on the ground floor. Garage, alarm, air condition round off this amazing property. The property includes an additional apartment for guests. Possibility to convert the huge basement into a gym area, cinema and sauna or Jacuzzi.|
|Property: 1079030 House for sale in Mandelieu-la-Napoule Hills Capitou|
1 680 000 €
|Close to the centre of Mandelieu, you will discover 1 of the oldest houses on the hill of Capitou. Set in a peaceful environment, this superb provencal style villa of approx. 300square meters provides a 180 degrees view with a nice terrace and swimming pool. Comprising 1 livingroom with open fireplace, a large kitchen with dining room, as well as 7 bedrooms, each with shower room or bathroom.|
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Buying Real Estate Property in France – A Guide to the Purchase Procedure
When it comes to making a property purchase in France, it is essential to be well informed about the ‘dos and don’ts’. There are many pitfalls to be avoided and this summary aims to assist those who are considering a purchase or who have perhaps already started the process.
The following advice is relevant to purchases made with or without the need for a loan. The processes are very similar, with the main difference appearing in the pre-sales agreement or ‘Compromise de Vente’.
Selecting the right estate agent or agency is essential prior to starting the search for that dream property. For your own protection, ensure that he or she carries a valid licence called the "Carte Professionelle". Do not deal with agents who are operating illegally.
Any truly professional registered agent will first take some time to discuss with you your property requirements so that he has a feel for your likes and dislikes. Beware of the agent who does not want to listen to you, but merely wants to show you the first property that comes to mind.
Equally important is the mandate. Ensure that the agent has a valid mandate to sell the property, where the sales price and agent’s commission have been formally agreed. Property owners who are unwilling to sign a mandate have often only contacted an agent in order to obtain a valuation of their property. If their intention is to sell, it is quite likely that the asking price will be well above the market value.
So the search is over, the dream house has been identified, and you are ready to move on to the next rung of the property purchase ladder….financing the purchase!
“How much will a French bank be prepared to lend me?” The answer is not simple, as each bank has their own terms and conditions. Typically, French banks will finance up to 70%-80% of their own valuation of the property. This is calculated by the bank’s own specially appointed property evaluator and is not based upon the agreed purchase price. In that rare case where the purchase price is lower than the evaluator’s estimate, then this figure will be used to calculate the amount the bank is prepared to finance.
Once the French bank has issued their loan terms, the next step is to formalise an agreement with the vendor in respect of the purchase price by making a written offer drafted by your selected registered real estate agent. Once the offer has been signed by the buyer it has to be countersigned by the vendor. A written offer is normally valid for only 2 weeks and at no time is the buyer obliged to proceed to purchase.
At this point, the "Compromis de Vente" should be drafted. It is advisable that this pre-sales agreement is drafted by a French Notary, and for English speakers, using a Notary who speaks fluent English can be especially helpful. Some Notaries are prepared to offer free translations of documents avoiding the expensive use of a certified translator on the day of completion.
If the property purchase is to be financed by a loan, the Notary will require details of the amount of the loan, the repayment period, and the maximum interest rate. All this information must be included in the “Compromise de Vente”.
Armed with a copy of the Compromise it is now possible, perhaps with the assistance of your real estate agent, to approach various financial institutions to obtain the best possible financing for your property.
Once the “Compromise de Vente” has been signed by both parties a seven day cooling off period begins. During this time an initial deposit payment of 5-10% of the purchase price should be made. As the buyer you also have the right to change your mind during this period, and can withdraw from the sale by sending a registered letter to the Notary who will then be obliged to refund any deposit already made.
In the event that the loan application is unsuccessful, a clause in the “Compromise de Vente” states that the contract can be cancelled and all monies refunded in full to the buyer.
The Notary must then establish with the Land Registry that the vendor is indeed the legal owner of the property. Details of any existing mortgages must be obtained to ensure that these are cleared upon completion of the sale. Finally the local authority has to be contacted to approve the sale as they always hold the first right of purchase. This long procedure (DIA) can often take up to 8 weeks to be completed.
The final piece in the jigsaw is the signature of the “Acte Authentique” (Bill of Sale). All issues will now have been resolved, and upon signature the buyer becomes the legal owner and all keys to the property are handed over. The real estate agent also receives his commission payment at this signing.
It is important to ensure that adequate insurance of the property has been taken out to coincide with the signing of the “Acte Authentique”. Any good real estate agent will help with this, along with the transfer of all utility bills for water, electricity, gas and telephone.
In brief, the purchase procedure in France is as follows: