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Are you planning to sell your property in France in 2018? There has never been a better time to be buying or selling property in France. The property market in the country has been buoyant ever since Emmanuel Macron was elected as the President of France.
Macron is seen as a business friendly leader. Also, more importantly, he is unlikely to do anything to upset the status quo as his opponent Ms. Marine Le Pen was threatening to. His victory means there is absolutely no risk of France leaving the European Union.
Many foreign investors who were anxious about the outcome of Brexit and worried about other countries leaving the European Union would be heaving a huge sigh of relief at the outcome.
There is hence a tremendous demand for properties in France from cash rich investors from Germany, Ireland and Scandinavia and particularly from fast emerging economies such as China and Russia.
Follow this guide to selling property in France in 2018 to know more about the process.
The very first thing to do when selling your property in France is to hire an overseas property specialist, someone who is adept at interacting and dealing with high net worth investors from countries such as Russia and China, as well as from Germany, Ireland and Scandinavia.
A UK estate agent who specialises in the overseas property market will be skilled at online marketing and will have the benefit of a massive agent network that extends to Asia and across Europe. He will also promote your house, apartment or villa in international property shows where you are more likely to find serious cash buyers.
Next, get your paperwork in order long before the transaction is completed. You will need a Sales Mandate if the property is being sold through a licensed estate agent.
You will need to sign an Agreement of Sale, called as the Compromis de Vente or Promesse de Vente with the buyer. Further, you and the buyer should sign a document called Acte de Vente or Acte Authentique or the Bill of Sale, which deems the property as ready to be sold.
There are certain costs associated with the sale of your property such as the Value Added Tax or VAT, which is called as TVA - Tax sur la Valeur Ajoutée in France). You may be charged a commission of 5% of the sales price by the licensed estate agent operating in France.
Once the offer has been received from the buyer, you will need to visit the notary’s office alongside him and sign the Agreement of Sale under the supervision of the Notary. At this point, you will get a deposit of 10% from the buyer, as advanced payment.
This is followed up by a 1- week cooling off period wherein the buyer has the property examined by a professional property inspector. In case there are no issues found, the transaction goes ahead and the sale is completed. Contact us to know the details on selling your property in France.