FAQs on real estate
Below you will find a list of questions we are frequently asked concerning property.
Buying/Selling: who pays what?
There are various costs pertaining to the sale of property:
- Agents fees: these are paid by the seller and are included in the asking price (they are referred to as F.A.I. or C.C.).
- Solicitor's fees: these are paid by the buyer and are not included in the asking price. They vary depending on the mortgage but amount to roughly 7% of the property sale price.
- Building survey costs: these are paid by the seller. We go into these in more detail in a specific question below.
How do you sell a property in France?
There are several important steps in the sale of a property:
- An offer from the buyer is passed to the seller. This has a time limit on it and may be lower than the asking price of the property should the buyer wish to negotiate.
- If this offer is accepted, a "compromis" or exchange of contracts takes place between the two parties. This may be signed at the agents or at a solicitor's. The two parties have a period of seven days to withdraw from the agreement.
- The contracts and all the necessary documents are taken to the solicitor who is handling the case.
- A date for signing the final deeds will be set roughly two months after the exchange of contracts has been signed. This makes the transaction official. It is possible to conduct the transaction using two solicitors (one for each party) but this sometimes slows matters down.
What documents do you need to provide to put a property on the market?
If you want to put a property up for sale, you need to supply us with the following documents:
- Title deed or notarised certification.
To be supplied (for cadastral references) upon signing the sale mandate in accordance with Article 1 of the decree of July 20, 1972.
- Rental lease.
To be supplied if the property is being sold with a sitting tenant. Together with this, a property assessment, an inventory (if necessary) and the last three rental receipts.
- Minutes from the last two co-ownership meetings
- Statement of charges for the last fiscal period
- Property tax
- Certification of surface area - Carrez Law.
Article 46 created under Law n° 96-1107 of December 18, 1996, implemented on June 19, 1997, protects those buying property bought exclusively in co-ownership.
- Other property surveys
Are property surveys compulsory and what do they cover?
Property surveys are a series of tests which assess the various aspects of the state of a property. Since November 1, 2007, it has been compulsory to carry them out before putting a property on the market for sale or rent. These surveys cover:
- the presence of asbestos
- the presence of lead
- whether the building has parasites such as termites
- its energy efficiency (EPCE)
- whether the electrical fittings are up to standard and gas (where appropriate)
- whether there are any technological risks
- the surface are (Carrez Law)
These surveys must be carried out by professionals. The cost varies depending on the size of the property to be surveyed (but 500 euros is the approximate rate). If you have made us your exclusive sale agent, we will refund the cost of these surveys.
How to I promote the sale of my property without spending too much?
The first few minutes of a visit are crucial to whether you sell your property or not. People buy properties they fall in love with. Showing off property in its best light through home staging includes a whole range of techniques that cost very little in order to create a good impression on the buyer and increase your chances of selling. Here are a few tips we would suggest, although some may seem self-evident:
- Depersonalise your property. Avoid art that is too unusual and repaint walls in a neutral colour such as off-white. The buyer needs to be able to imagine themselves in your apartment during their visit.
- Declutter your apartment. Simplicity is important. Take down your numerous family photos and free up space so the potential buyer can see how spacious the apartment is. Tidy from top to bottom.
- Show off the interior. Make sure there is sufficient lighting so your apartment appears bright. Add a few plants or change the furniture if it is not attractive.
If you would like some more advice, you could call on specialist home staging companies or simply ask us.
What is the SIA?
The Inter-Agency Network (SIA), also called the Multiple Listing System (MLS) is a regional property cooperation platform for real estate professionals. It is managed by Emulis and enables estate agents to work together on properties they have exclusive sale mandates for.
When you agree an exclusive mandate with one of the 250 estate agents of the SIA, like ours, you secure greater visibility and increase the chances of a speedy sale of your property.