buyers' guide

There are significant differences between the real estate properties purchased on the French Riviera and Provence than on other countries. French law guarantees the buyer in a stronger and more effective way than elsewhere. The property price is inclusive of agency commission: this fact simplifies things already. The only additional cost that buyer has to bear is the cost of the deed and related taxes: it is between about 3% for new properties less than five years old, and 7.5% for second hand properties (in this case the tax included in this amount is 5.5%). The amount paid to the notary includes national and regional taxes, registry tax and notary fee; the deposit and any following payment are made to a special notary account, and the notary agrees to pay the amount to the seller only if the sale is successful, or he will refund the buyer in case of failure to sell. This is also an incredible guarantee. The properties surface counts the real square footage, as indicated by the Loi Carrez : so no more walls, half walls, balconies, basements and garages in various percentages.

In France there are two annual fees to pay: the Taxes Foncieres and the Taxe d’Habitation. Taxes Foncieres is based on your location and your square footage; you have to pays it each October. During the first year of purchase the buyer will refund pro rata the seller. In the case of purchase of a new building it is planned a reduced rate for the first two years. The Taxe d’Habitation is an annual fee for municipal services, such as lighting, sanitation, roads and so on. It is paid each December by those who owned the accommodation on the first day of the year.

Let us briefly review the process that will lead to the purchase of your property on the French Riviera or in Provence. After visiting with us various properties, if you will fall in love with one of them you can proceed to the subscription of the offer. Deposits are returned to the buyer in the following cases:

The property is not corresponding to the description

The loan is not granted

Failure to comply with the preliminary sale

Serious reasons beyond the control of the seller

Your proposal must be signed by the seller for acceptance.

Several preliminary investigations are now done by professionals, such as the exact measure of the surface, electrical, hydraulic and gas verification, presence of termites in the wooden structure, analysis of heat loss, etc. On the legal side Notary makes all the necessary analysis to guarantee a correct sales. After about 30-40 days from the offer will be signed the sale agreement at the notary, accompanied by a deposit of 10% of the price; this deposit is paid by bank transfer to a special Notary account, said compte sequestre. The Notary is a public official and is the guarantor of the transaction. This amount will be paid to the seller only after the deed of sale. As you see, the French law really protects the buyer, which is 100% protected at every stage of the purchase. The French mortgage has a very fast investigation, and also the preliminary answers are much faster. In case of a negative response in the granting of the loan from the bank, you have the right to terminate the contract and have the deposit refund.