Agencies do charge much for their work but frankly speaking we don`t think they do a lot of the paperwork etc. on your behalf. It is up to you to decide what kind of service to use. You can use an agent if you are a first time buyer, the choice is yours, we did just that for our first property purchase in Brittany.

Important advice and tips on choosing the right property in the right area

If you have made the decision to either move to France or at least buy a holiday home, it is wise to think about the right area for your future “castle” Should you look for an area which will gives you easy access to the UK, this might be very convenient if you have to return on a regular basis. So for people in this category it is advisable to look at the Airport and Ferry port distances from the place you want to buy.

You can still find many bargains in France and it is possible that you look for and find a great renovation project with a few acres of land and this could be ideal for you. But keep in mind that sometimes the first impressions unfortunately, are often hiding something, so research is a must.

A few acres of land, that sounds great, and brings to mind ideas of getting a few animals, horses, sheep, and chickens. Who knows you could even dig your own lake and fill it with fish and offer fishing holidays or if you have barns to convert to gites or holiday homes, maybe even a part of your home could be used as bed and breakfast.

So what`s it really like to take on a building or refurbishment project in France

We have been there and done it all and although it sounds fantastic it is not all plain sailing by any means. A property can be advertised as “livable with fishing lake”but frankly speaking it can be far from this, but you learn from your mistakes. When we were searching for a property to buy in Brittany we viewed properties all day with a property agent (not an estate agent). That day we didn` choose anything so we looked and kept looking and on the second day of house hunting in Brittany. At last fortune smiled upon us and we saw the last property of the day. That was it we saw it and said we wanted it, a bit rash you may think but we had made up our minds. A Bretagne Longere with out-buildings and a large unused part of the house and to top it off seven hectares of land all around the property.

Many different ideas occur and all sorts of thoughts start racing through your heads. You want to remake almost everything, this you will put here, and that thing should be moved there and on that place your wish is to create your own fishing lake and with over 10 acres what could be easier.

You buy the property and move there to do some work to create your dream. Now you have to find a well known registered builder or tradesman who can provide good references. When we bought the desired property found a great French registered English builder and a French electrician who speaks perfect English after getting several quotes for the work to be done we eventually chose and the works started.

Remember that employing anyone in France who is not registered is actually illegal and you do it would be liable to fines or worse if you get caught employing people on “the black”. In addition it is always best advice to check the persons or companies insurance certificate; we did and never looked back as the work was finished to a high quality and on time.

Basically, the process of buying a property in France is quite straight forward, that is, if you have a clear understanding of the process involved. Always the key to a successful purchase is research and a little patience. It is imperative that you know the basic information in order to guide you in your decision.

Initial Agreement

Purchase or sale of any property raises many questions and even fear especially when you buy overseas. So just like in any other types of sales, an initial agreement is important as it sets the sale’s terms and conditions. It is a provisional or a preliminary contract that is legally binding upon the buyer and the vendor. A professional like a notary should draft this.

There are basically three types of initial contract depending on who is acting on your behalf. That is why it is highly recommended that you do a thorough research on these types before buying. And whatever type you choose, you should keep in mind that this is legally binding upon you. Make sure that you spend time analyzing the terms in details and never hesitate to ask questions if there are conditions that are not clear to you.

The goal of this contract is to concretize the agreement between the vendor and the purchaser and allow the notary to prepare the final sale of deed, so there is no need for you to pay any amount yet before signing.

Signature of Final Sale Contract

The true transfer of property takes place only at the time of the signature of the Title Deeds or also known as Acte Authentique at the office of the notary. The signing transpires once the notaire has carried out the relevant checks and searches and all the conditions are met.

If you cannot attend the contract signing, a proxy can sign but take note that on the power of attorney, your signature should appear on it and should be legalized by the French Consulate or a solicitor or a notary public in your originating country.

Planning Permissions

This should be obtained for any new construction or for refurbishing an existing building. An application for a representative can file planning permission provided a proxy is signed in that regard. Your representative can be the architect who drew up the plan, a solicitor, or the builder.

A planning permission application should include the identification details of the applicant, as well as the land on which there are plans to erect a building, the plot of land’s location map, and the layout plans.

Tax

Taxes and costs are always associated with buying property in France. And these should be considered when planning your investment. Usually there are high taxes for a start, which include income, property, residential taxes, wealth and capital gains. Keep in mind that tax in France is rather high and there are penalties for late payers, so you should check your French tax return for the deadline.

French Inheritance Law

It is important that you know the inheritance law in France because it may be different from your originating country. If you have a property in France, French Succession Law will govern this. Children automatically inherit part of their parents’ estate but there is a limit to how much may be left by Will to non-blood relatives.

These are just a few of the information that you should know to guide you in buying property in France. Before you purchase one, be sure what you are buying.

Take your time and consider all the factors and gather all the information you need that can help you in your decision-making. Remember that as a buyer, you should take responsibility for the condition of the items you purchase so you should inspect them before you purchase.

Seeking legal advice is the best thing that you can do in order to know all the details that come with buying a property in France. Impulsive buying can never do you any good, so be in total control.

Aside from the price, another incentive that can pull you into buying a St. Tropez property is the fact that the weather is always mild there.  The mild Mediterranean climate attracts people from the colder parts of Europe all year round, but more so during the summer months.  You can treat the property as an income generator by renting it out to these holiday-goers who regularly flock to St. Tropez and the other tourist destinations in the south of France.

Buying properties in the south of France, however, is no simple matter.  If you do not do it carefully, you may end up wasting a good chunk of money on a non-performing asset.  You should always weigh in the factors for and against buying a St. Tropez property before you actually make the purchase.

Here are a few tips on buying property in St. Tropez:

Set a budget.  The first thing you need to do before you buy property in St. Tropez is to set your budget.  Know how much you can afford to spend and stick to that amount when shopping for the property that you want.

Browse listings of reputable brokers.  When shopping for real estate, you should only make transactions with reputable real estate brokers.  View their listings and verify the information that you get from them if you have to.  Dealing with only reputable real estate brokers will save you a huge amount of trouble in the long run.

Visit the property.  As much as possible, go and fly to the south of France so you can view the property you are about to buy with your own eyes.  Do not put your trust in another person’s judgment of the property, no matter how much you trust that person.  In visiting the property yourself, you will be able to assess whether or not you like the property and what improvements you may need to make after buying it.

Hire a solicitor.  Another important move that you need to make when buying properties in the south of France is hiring a solicitor.  A solicitor would be able to attend to legal details that you may lack the understanding, or the ability, to deal with.  Your solicitor will act as your liaison officer in completing the paperwork involved with buying a property.  However, make sure that you know all the details of whatever your solicitor is doing with regards to the property so that you understand what is going on.

Buying properties in the south of France is not a simple task to undertake.  You should do your homework and prepare yourself for the eventuality that you may become a property owner in St. Tropez or anywhere in the south of France.

1) Spend a few days- its worth it!

If you are serious about your purchase in France then you have to spend at least a few days if not a week or more in the area in order to get a really good feel for your surroundings but also to see enough property in order to make the trip worthwhile. A longer trip will also stop you from making rash decisions about a property purchase simply because you are short on time and desperate to get your foothold in France. Viewing trips over a long weekend are often not enough and add to that that agencies are shut on Sundays are also often on Mondays and it can mean that you really won’t see enough options to be able to make a sensible decision. The best advice is to spend a good week to ten days in your chosen location with 5 or six days put aside for viewings and a further few days to do your own research if you find something suitable. These extra days will allow you to send in a local builder to check the structure of the property and to give you quotes on any work that is required. It will also give you the chance to pop into the local mayor’s office where you gather information such as any planning permission granted in the area so you can see how it might affect your property- if at all. This is especially important if you plan on asking for an extension to your property as you will need to get to know the local authorities quite well and keep them on your side. If renovating or building new these extra days can also wisely be spent with a local architect so that he can give you advice on what can and cannot be done and possible costs. All these checks are well worth doing before you return to the UK and ideally before you make an offer on the property as it will give you a much clearer idea of what you can do with the property and its value to you.

2) Don’t be afraid to negotiate

Most people are unsure whether they can negotiate in France and if so how much. The short answer to this is YES and you can normally negotiate between 5 to 10% off the price depending on the state of the market. As I write this we are seeing offers of up to 10% off being accepted by the vendor because the market in France is currently a bit slow in certain areas so now is in fact a great time to go property hunting with great deals to had. Help and advice when negotiating on price is in fact one of the many areas where Leapfrog properties can help its clients.

3) Get a survey/structural appraisal

The process of sending in a surveyor to check the structure of the property and to give you a report as you would expect in England is extremely uncommon in France. There are a few French surveyors but most are based in Paris and focus purely on commercial property. You are therefore left with 3 choices: do nothing, pick an English surveyor who has moved to France or do what the French do themselves which is ask for an appraisal of the property by the local builder or architect. The last option is most recommended as it is prudent to get a professional’s opinion before you make an offer whilst the time it takes to get one of the handful of British surveyors to see your property it could have already been sold. However if it is more a question of peace of mind as supposed to bargaining power then you can sign an initial sales contract subject to a survey being done by the surveyor of your choice. If the survey comes back reporting defects to the extent that you do not wish to go ahead with the purchase then you can withdraw with no penalty.

4) Don’t be afraid of signing the initial sales contract

The “compromis de vente” (initial sales contract) is designed to protect both the buyer and vendor. If you make an offer on a property and the agent very soon after asks you to sign a compromis de vente this isn’t because he/she is a pressure salesman it is simply because that is the way things are done in France. Once this document is signed by both the buyer and the vendor there is effectively no more room for negotiation and the property will be taken off the market while all the necessary checks are performed by the appointed notaire. This is in stark contrast to the process in the UK where an offer can be accepted by a vendor and then gazumped a few weeks later by someone with a better offer. In the UK you send in your surveyor after an offer has been accepted and then following the report you then have further room for negotiation up until exchange of contracts. This is not the case in France as you cannot be gazumped if both signatures are on the sales contract which is why we recommend you have a few days spare while on your viewing trip to perform any checks/appraisals. Equally if you like a property there is no point going back to the UK before you make an offer as the property is often with 4/5 other agents and could easily be sold, plus the time it takes for the paperwork and contracts to be signed by both parties if you are in another country could also allow another buyer to step in. There is a seven day cooling off period during which you can pull out of the purchase for any reason whatsoever without penalty so if it is simply a question of wanting a bit more time to decide then you are better off signing the contract to prevent losing the property and if possible get the vendor’s signature on it at the same time.

5) Get your mortgage agreed before your trip to France

If you require a mortgage your bargaining position and having a good idea what you can really afford is largely improved by getting a mortgage agreed in principle before you leave. This way when you make an offer you really know if this is over-stretching yourself or not and prevents disappointment later if your bank then decides that the risk is too great and they cannot lend you the required funds. This can not only be frustrating but also waste time for everyone involved. It is a good idea therefore to go with a company that has the system already in place to deal with arranging you a mortgage and answering your questions on finance. Typical repayment mortgages are currently around 3.5% and finance for resale properties can easily be arranged up to 70% while finance for New build/leaseback properties can often be as high as 95% due to the high demand and ease of rental of new build properties in France.

6) Use a currency specialist

When sending money from the UK to France there is lots of money to be made or lost depending on how you do it and with whom. If you simply ask your high street bank to send your money to a French bank account in Euros they will not only charge you a transaction charge but are also likely to give you rather uncompetitive rates on exchange. You may also lose money on exchange rate fluctuations adversely affecting the strength of the pound to the Euro. To avoid any of these negative affects and charges it is best to use a currency specialist who not only offers the most competitive rates on exchange but also doesn’t charge commission on the money sent. They will also offer you the possibility to buy your currency in advance of the completion date which is often 3 months after the signing of the initial contract and much more if buying off plan. This will ensure that you know exactly how many British pounds you will be spending up to 2 years in advance instead of playing the risky currency game which could end up costing thousands.