As we enter the traditional time for buyers to cross the channel to buy a French property, we take a look at some of the factors affecting the French property market and tips for finding a good deal.
- 1.Before looking around get an opinion on your ability to borrow in France from a good broker. This will make sure you don’t waste time on properties at the wrong value.
- 2.Once you have identified your area, register with as many local agents as possible to keep up to date with what is on the market and allow for several trips over for viewings to find the right place. If your French is up to it also check out the ads in the local newspapers as many French people sell direct this way. Alternatively, hire a good property finder with area specific knowledge, as they are usually worth the fee in terms of price reductions and the quality of property they can locate with their local connections.
- 3.Once you have identified a property, get a decision in principle from a mortgage broker or bank, which can be used to negotiate a lower price as the buyer will know you are serious and can move quickly.
- 4.If the property has been on for a long time you can negotiate hard but for prime properties which have just come on you may have to agree a deal quickly to obtain the property as we have noticed many buyers failing with low offers for a well located property.
- 5.Sellers usually nominate the Notaire for the sale who will act for both of you, undertake the conveyance and collect and pay the relevant duties and taxes. If the allocated Notaire does not speak English, ask for one that does or say that you will instruct your own who will receive half of the fees from the nominated Notaire.