|
|
 |
|
| Welcome to Crédit Foncier |
/ |
Buying real estate in 10 easy stages |
|
 |
 |
Buying real estate in 10 easy stages |
 |
|
 |
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.
|
| |
2. How much can you borrow ? |
top |
|
|
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 than your monthly repayments should not exceed 25 to 33% of your monthly income.
|
| |
3. Find the house of your dreams |
top |
|
|
You can find the house of your dreams either through classified ads placed by private individuals (newspapers, Internet, etc.) or by advertisements published by professionals: real-estate agents, public notaries or property developers. 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.
|
| |
4. Negotiate the right price |
top |
|
|
All real-estate prices quoted for existing properties are, in principle, negotiable unless demand is extremely strong. Be sure to take note of all the fittings requiring attention and make a list of the negative aspects of the property to put yourself in a strong negotiating position.
|
| |
5. You decide to buy ! |
top |
|
|
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 "compromis de vente" (provisional sales agreement), or sign a "contrat de réservation" (reservation agreement) when buying new real estate. This stage is a major step; you will be legally and financially committed with limited possibilities for withdrawing from the agreement.
Move to the "Contact us" page where you will find all the different ways of getting into contact with Crédit Foncier (telephone, Internet, local branch office) for taking out your loan.
Another, even simpler solution is to fill out your loan simulation request form directly online !
|
| |
7. The deed of conveyance |
top |
|
|
The deed of conveyance must be drawn up by a public notary who ensures that all legal provisions have been respected and guarantees the authenticity of the contract. He retains the deed of conveyance and gives a copy to both signatories. Allow up to 2 to 3 months between the moment you sign the provisional sales agreement and the moment you receive the final deed of conveyance.
Further details...
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 cost can amount to between 6% and 8% of the selling price.
Further details...
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 (tile falling on a passer-by, water damage) or capital loss. You must take out a comprehensive household insurance.
Further details...
|
| |
10. Group acquisition |
top |
|
|
Perhaps you would like to join with others in acquiring a holiday home, with other members of your family or 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). Inquire about the advantages of this legal solution from a public notary or real-estate agents! |
