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Finance  »  Real Estate
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How To Sell A Property In France

By: John Upshall
Date Added : July 16, 2011 Views : 22
Rate Author : Current : 2.90 /5
Rate this Article : Current : 2.86 /5



The Costs Of Selling Up
When you sell a property in France you employ a Notaire, who will deal with all of your paperwork. The purchaser has to pay all the charges for everything to do with the notaire.
However, it is up to the seller who pays the agent's fees, even though it is generally considered to be the seller’s liability. The agents usually charge around 5-10% of the property price.
Lead And Asbestos Reports
As surveying the property is not standard practice in France, you need to make sure that the following mandatory reports are carried out on the property:
• Termites
• Asbestos problems
• Lead (if built before 1949)
• Gas and electricity (if they have not been replaced in over 15 years)
• Risks (of floods, earthquakes, etc...)
• Energy Performance rating
• Drainage
If these reports are favourable, then you will not need to deduct anything from your selling price. However, potential buyers will use these points against you if they are not all excellent reports.
CGT
If the property is your main place of residence, then you do not need to pay capital gains. However, if you are selling the house and it is a ‘second’ property, you will need to give a rather hefty sixteen percent (if you are not a resident of France), or twenty-eight percent (if you are).
Representative
If the property worth is over 150,000 Euros then you will need to appoint a fiscal representative who will take roughly one percent of the property price in fees.
VAT
Due to a recent change in the laws, VAT is no longer applicable if you are selling a house less than 5 years old, and the buyer pays all the stamp duty (roughly 0.75% of the total price).



Property for sale in France from leading French property portal FranceHouseHunt.com

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