Property Sales
Procedure
Before going into the procedure, just
a few words about Estate Agents.
All have to be licensed and insured- and this displayed
in their Agency. They must hold a carte professionnelle
which is issued by the Préfecture and most will be a
member of a significant Trade Association in France,
such as:
FNAIM (Fédération Nationale des
Agents Immobiliers)
UNIT (Union Nationale de
l'Immobilier)
SNPI (Syndicat National des
Professionnels Immobiliers)
CNAB (Confédération Nationale des
Administrateurs de Biens)
The price of the property for sale usually included the
Agents commission ( between 3 and 10%) and will be
indicated FAI ( Frais Agence
Inclus) as
well as VAT at 19.6%.
Making
an Offer
The dream house has been
found- you love the Village and surroundings, and your
offer has been accepted- hopefully after some healthy
negotiation. Some agencies will require you to fill out
an Offer form- to be signed by both parties. This is
not overly common as Agents will get you to sign
the Compromis
de Vente a
few days after the offer has been accepted. This
document is a sale agreement between the 2 parties.
You will agree on what is included in the sale ( white
goods, furniture etc) as well as Clauses Suspensive
that will state that ,
for example, the vendor will build 2 concrete steps
from the garage into the house before Completion.
Basically, anything verbally agreed is put into
writing.
This document can be signed at the Agents office or at
a Notaire. It can also be signed by post if
you are out of the country, or you can arrange a person
to do it for you - like a Notaire, friend or family member. A deposit
can be requested at this stage- from 1-10%. From the
date of signing,you have 7 days cooling off period.
2 important points. If the Vendor withdraws after the
cooling off period, you get your deposit back as well
as, usually, 10% of the agreed selling price. If you
withdraw after the 7 days, the deposit goes to the
Vendor.
Property
Inspection
The Vendor/Estate Agent will arrange that a
Diagnostique
is carried out in the
house. This is law - and just remember a Survey is not
required- by you may have one done. The following areas
will appear on the report:
Asbestos.
Pre 1997 houses will have potential asbestos presence
checked
Energy
Diagnosis. The
consumption of energy: usage of electricity in running
the house measured by kWh/m2 of primary energy as well
as the impact of this consumption: greenhouse gas
emissions measured in Kg of CO2/m2
Loi Carrez.
This is only in the case
of a copropriété
- a building that has
been split up - like apartments. This measure the exact
square meterage of of the property.
Lead.
Since 29 July 1998, this inspection verifies any traces
of lead in the property.
Termites/fungal and
insect related damage. Since 8 June 1999, it requires a
full test on all wood for insect related damage.
Natural
Risks. This will
inform you on risks such as flooding ( largest floods
on record were in 1999) and show you how your area is
classified today.
Gas.
If the property is supplied by gas from the street, it
will verify the fittings and connections and safety of
installations.
Swimming
Pools. From 01
January 2006, the safety features of your pool are
inspected.
Completion Process
( Acte
Authentique)
This is where the balance
of the money is paid to purchase the house. The
purchaser is liable to pay the Notaires fees as well as tax. This can be
around 8% on top of the purchase price. Remember
the Notaire is a Government Tax Collector. For
Capital gains and other taxes , you are advised to take
professional advice.
Check Glossary
for Property Terms
You now have
the keys to your new property. Get the bubbly out!!!!!
Home Properties in Aude
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