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Finding the Right French Property
| Buying & Selling Property in France |
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From a barn restoration in Bordeaux, to a mazot conversion in the mountains there's many reasons why people are interested in purchasing property in France. Make sure that before you attempt the process of purchasing your property in France you are fully armed with the knowledge of how to locate, purchase and even live in it!
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| Finding the right property |
There are a many different geographical landscapes offering sufficient variety to suit most property buyers’ tastes. Britons looking to find their dream property are however now becoming more adventurous and willing to look further afield in their search for a foreign home. Once upon a time foreign property buyers were simply interested in buying beautiful mansions or chateaus. It is now possible to purchase your property as a new build, a leaseback or an off-plan purchase. With a number of prospective buyers having potentially rennovated their property back in the UK they think nothing of delving into ambitious property development projects abroad.
Whatever type of property and area you choose for yourself, you will find that there is a variety of ways in which your property can be bought that are not to dissimilar from the UK. Today there is also a plethora of information about purchasing property abroad on the internet in books specifically written on the subject so you can actually do a lot of research from the comfort of your own home.
In purchasing your property you have a few choices available to you. You can elect to buy your property by:
- Private sale
- Though a solicitor
- Through local estate agents
- At auction – depending on your fluency of foreign language
For most buyers, finding the perfect property takes time, a luxury which most are not privy to. Additionally, since most Britons are familiar with the concept of buying a house through an estate agent many prospective buyers continue to favour this route when purchasing their property abroad. |
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last updated 5-Oct-2007 |
| The Buying Process |
For many of us purchasing a property abroad is the fulfilment of a lifelong dream. The buying stage can be the most exciting part as this is where it all becomes real. You've done all your homework, you've trawled through the internet, scanned pages and pages of houses and apartments particulars and visited numerous potential property candidates before finally locating your ideal property!
It's the buying process where you will be required to sign official documentation and hand over the required cash to make the property legally yours. Buying property abroad can sometimes become a complicated process and you should note that in many countries, the process varies significantly from that of the UK. It is strongly advised that before venturing down this final route you come fully armed with all the relevant purchasing information and have completed all necessary financial and structural checks that will relate to your property. Before signing any official documentation you should make sure you fully understand the legal complexities involved in your purchase and if possible, make sure you have a solicitor that is fluent in both English and the local language so they can explain to you exactly what you are signing.
It is also worthwhile ensuring that your solicitor checks the debts against the house that is for sale as in some countires, once the house sale has been registered you could become liable for the debts. |
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last updated 5-Oct-2007 |
| Fees Associated with Purchasing Property |
We're always hearing about ‘location, location, location' when it comes to the property market so it comes as no surprise that the cost of buying a property in overseas locations are similarly related to its location, its size, condition, and nearby transport links. The introduction of low cost airlines and changes in the perception of air travel been instrumental in introducing new buyers to previously unexplored property areas across Europe. As a result, there are parts of the country which have seen substantial property investments and price rises over the past few years.
The UK Newspapers are full of success stories of Britains who have packed up and moved abroad for better property prices and an all round improved quality of life. Recent developments in communications and technology have prompted some employees to look for suitable ‘work from home solutions’. When you combine this with cheap flights and train journeys it means that many people are now actually able to ‘commute’ from European countries for their work in the UK with little or no issues. From Autumn 2007, the Eurostar between Lille (France) and London Paddington (UK) will only take 1 hour and 20 mins, that’s less than some journeys on public transport in London!
In buying your dream property you should expect to pay several fees and taxes (link). Are you aware of all the fees, taxes, commissions and financial commitments you may have to pay when venturing down the foreign property purchasing route? Typical costs may include some of the following:
Solicitor's fees and commissionEstate agent feesProperty registration feesTaxForeign currency exchange costs (if applicable); andSurvey fees (if applicable)
As taxation and governments change from country to country so will these costs. It's always best to make sure you have fully researched applicable fees and taxation rules so that you don't have any hidden charges that spring up along the way. |
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last updated 5-Oct-2007 |
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