To sell or buy property choose to use a real estate professional, a real estate agent !
Mandate estate : the estate agent contract
In this case, you will "instruct" this agent to find you a buyer.
The mandate must be in writing and specify the engagement, that is to say remuneration of the agent, the term, its exclusive character or not ...
If you opt for a term "Exclusivity", the agent has a monopoly on the research activities of your buyer.
It will cost you a commission of course "for sale" based on the amount of the sale and will be paid at the signing at the Notary.
Good visit with an estate agent
The right of access is a document of evidence upon which the estate agent, commissioned by a vendor to sell the property, showing that a potential buyer has actually visited the property in question.
By the signature of the visit, we recognize visiting designated housing through the estate agent.
This good actually prohibit contact the owner to negotiate direct sales, that is to say without going through a realtor.
If the officer arrives to prove that you have tried to circumvent by negotiating directly with the seller, your liability may be incurred.
Buy real estate course
The conduct of a property purchase involves several phases.
Given the financial commitment to the game, no step should be ignored
Reflections prior to purchasing a property :
Defining your needs, your desires and your budget
Research and purchase decisions :
Research, visits (to learn more about the property and its environment), decision to purchase once your choice Order
Pre-sale contract :
Whether a unilateral promise to sell or a sale agreement, the act of pre-contract of sale is crucial because it determines the conditions of sale
Deadline for withdrawal :
At this point, you will have a period of seven days to change their mind without being committed to the seller.
Once past this period, any withdrawal may lead to you, the loss of capital allowance paid to the seller, or the payment of damages.
This step depends on the feasibility or otherwise of your real estate purchase. In case of refusal of credit by your bank, you can recover the capital allowance paid to the seller if obtaining property loans included in the conditions precedent.
Deed of sale :
Once the final contract of sale signed by the notary (original signature), you walk away with keys and a provisional title and simplified, called "signing statements" to help you do your first administrative steps pending Final title.
Title property final :
You will receive your title and your final account after several formalities by the Notary, whose publication the deed of sale mortgage office. An average of 3-6 months may elapse between the signing and receipt of final title.
Finding a property
The search for a property is a step that can be long. So as not to be outdone by the flood of ads and unnecessarily lose your energy, target as accurately as possible your research.
Start by evaluating your budget.
Depending on your initial and your ability to repay (your monthly payments should not exceed 33% of your income) to calculate more accurately, the amount of property you are looking for. Remember, the notary fees (in the former, they vary between 7-9% depending on the value of the property and the amount of your loan).
Refine your search as possible.
What type of housing are you looking for ? Apartment, Villa ? ...
What should be the minimum area, numbers of bedrooms, garage ...
In what areas (city outskirts, countryside ...)
The property must match your lifestyle ... transportation, proximity to schools, shops ...
It is rare to find first time the property that matches their expectations.
Check the condition of housing. Work is needed?
If in doubt, please seek the advice of a professional (consultant, architect ...)
A well please you ? Feel free to visit the home several times, at different times
write to the good value that seems fair. If you asked the price appears above the market price, you can make proposal-cons, but do not try to negotiate the price absolutely if it is consistent with the services offered; many buyers have gone next a sale because of a negotiating principle.
You get the hang of heart ? Sign the sale agreement.
This contract allows you to reserve the property until the final signature. Please consult a notary; he will accompany you throughout the duration of the transaction.
Once the signed agreement, you have a withdrawal period of seven days during which you can change your mind.
Enjoy this time to validate your choice (any quotation, information to the City Council on possible changes in the neighbourhood ...).
If you do not get the credit that you said to ask, you can break the compromise and get your money.
By cons, if you change your mind once past the withdrawal period, you will lose this money.
You'll have a clearer idea of the brightness, noise possible.
The preliminary contract of sale is a document prior to the final deed of sale.
Signed by the seller and the buyer, it specifies the conditions under which the sale will take place
Pre-sales contract, definition
The preliminary sales contract, signed by the buyer and seller, is the act prior to the final contract of sale of a property.
It means just as much promise and sale agreement, the preliminary contract or reservation contract in the case of a forward sale or a sale of building plans to build.
The preliminary sales contract may be established under private seal. However, it is wiser to entrust the writing to a notary.
Too often overlooked, the preliminary contract of sale involves significant obligations for both parties because it determines the conditions of sale.
Pre-sales contract cancellation period
In a preliminary contract of sale the purchaser unprofessional enjoys a cooling off period of seven days from the date of receipt of the document (sales agreement or sales agreement) and that by law "Solidarity and Urban Renewal" of 2001.
In case of withdrawal, the purchaser must, before the expiry of that period, inform the seller of his decision by registered letter or a bailiff.
Pre-sales contract, sales agreement or sales agreement
The big difference between a unilateral promise to sell and sale agreement (also called indenture promise of sale) is that the compromise is more economical (no registration requirements) and reliable (irrevocable commitment of both parties except under suspense clauses by contract) that the promise of sale. In the case of a sales agreement in effect, the buyer is not required to acquire the property.
If it shrinks, it loses the amount of capital allowance (usually 10% of sales price) he argued in favour of the seller, unless the transaction is not for failure to obtain loan expected by the purchaser.
Sales agreement or promise of sale indenture
Called also promise indenture of sale, the sale agreement is a document by which a seller and a buyer commits to buy and sell a property for a price.
The sale agreement is a firm and definitive.
Buy Real Estate : cancellation or delay of reflection
Any candidate buyer has a right to renounce its own gain.
Next the form of action, it is the right of cancellation or the reflection period.
The withdrawal period
If you signed a preliminary private contract (without the intervention of a notary), you have seven days to retract without cause (article L271-1 Code of the Constitution and Housing).
The deadline for withdrawal from the day following the first presentation of the letter notifying the act.
If the last day falls on a Saturday, Sunday or holiday the deadline is extended to the following business day.
Three types of notification are possible:
• by registered letter with return receipt
• by delivery against receipt
The return of capital allowance must be made in the 21 days after the date of withdrawal.
The period of reflection
When the preliminary contract is signed before the Notary, the proposed sale is notified by registered letter with return receipt to the prospective beneficiary.
It has a period of reflection which, despite various forms, provides the same guarantees as the withdrawal period.
From the day after the date he receives the document, the buyer has 7 days to make its decision.
In case of renunciation, he simply did not sign the deed.
Buy real estate: the signature of the deed of sale
The period between signing the preliminary agreement that the sale is a necessary phase that allowed the purchaser to obtain a mortgage and Notary gather all parts needed to signature.
The role of the Notary
Once the preliminary contract signed, the Notary will gather the necessary documents for signature of the act and serve the various rights of pre-emption.
It satisfies a long series of information about the seller, the buyer and the property sold. If the file is ready (it takes about 2 to 3 months), the Notary shall convene the parties for signing the deed.
The signing of the deed
The buyer pays the balance of the property price and the notary fees. Note that if the seller and buyer are each a Notary, they will share the fees.
Once done reading the note and signature, the Notary sends it to the real estate file of the Conservation of Mortgages for binding to the Third.
It gives the purchaser with a simple copy of the deed of sale.
The final version of the instrument will be sent to the seller about six months after the signing.
Buying real estate : buying condo
Before you agree on the purchase of property, condominiums, a number of check points
Decode the condominium rules
Ask to see the condominium rules and check the provisions regarding the use of the common and the allocation of the units.
The seller tells you that you can practice your profession in the apartment, but is it true ?
The regulation does he not that housing is for the exclusive use of home ?
Feel free to meet with various owners and appreciate the constraints of cohabitation.
Do they have the same priorities as you ?
Realize they regularly work, or do they generally refuse to invest ?
The trustee is it dynamic or he is not interested in the condominium ?
These seemingly innocent little questions are important because they will soon affect your daily life ... and well-being.
Check the accuracy of the surface area announced by the owner.
Take a meter and measure in length and breadth of the housing without taking into account the areas whose ceiling height is less than 1.80 meters. Note that since June 1997, promises of sale and final deeds relating to a strata lot must specify the size of the private portion of Lot (Carrez law).
In the absence of such statement, you can ask for outright cancellation of the sale within one month after the signing.
If the real surface is less than 5% than that specified, you can take action and demand a reduction of the purchase price within one year following the signing of the final (or "authentic" ).
Sales Tax: measurement Carrez law
Carrez law makes it compulsory to mention the area of a private unit condominium at any mutation
The expert offers on-site surveys as defined in the Act of December 18 (96-1107) OJ of 19 December 1996 and Implementing Decree No. 97-532 of 23 May 1997.
The statements made by a skilled construction technician, specially trained for this mission for the accuracy of information exonerates you from any legal risk and promote transparency in the transaction.
Through these regulatory responses, the expert will:
• to inform the occupants of the place of its approach
• to analyze the composition of the batch according to the documents entrusted
• to make the on-site surveys
• to return the original certificate
The role of the Notary
The Notary is a man of law and legislation.
Any property transaction must pass through its services.
The Notary organizes documents related to the sale, make the mandatory steps, verify that the purchaser has been properly informed of the size of the property, the possible presence of asbestos, lead or termites.
It ensures the authenticity of the assignment.
Once the sale is signed, the Notary is responsible for publicity and inform the Land Registry of the transfer of ownership.
He keeps a copy of the document.
The Notary fees
They are fixed by decree and are based on price.
They amount to approximately:
- 6.5% of the total selling price for the former
- 3% for the newbuildings
Fees are sliding scale (the higher the purchase price, the less they are)
Part of the cost is the remuneration of the notary, another expense disbursements, the rest is collected by the Tax Administration. .
A surplus expected in any property purchase
The notary is a key character in your adventure all the money on real estate acquisitions, built or not, come into effect between his hands and he is responsible for collecting taxes levied by state and local governments.
If you buy an older housing (built over five years and already sold at least once), what is commonly called the "legal fees" approaching nearly 10% of the amount of your purchase.
They are composed of very different elements :
The actual salaries paid to the specialist who plays a valuable role: writing instruments, verification of the correctness of the operation ... Its fees are fixed by decree and are proportional to the selling price (percentages a tapering price). The VAT rate of 19.60% is added.
You'll pay the day of signing the contract of sale.
The "expenditure", ie the amounts paid on behalf of the client: cost of parts, the salary of mortgages, postage, etc..
Duties and taxes paid to the Treasury :
It is mainly registration fees, also called "transfer duties for consideration.
They are composed of municipal taxes, county tax and a "levy base fee" equivalent to 2.5% of the tax department.
To comfort you, know that buying an old property is not subject to payment of VAT.
Land transfer or registration fees, excise taxes
Transfer duties still called recording rights are an indirect tax levied at the change of ownership of a property
- Either against payment (including sales)
- Either free (donation or succession)
They are perceived by the undersigned on behalf of the tax administration and are paid at an estate sale to purchasers of the property.
This tax source helps to fund social spending supported by local authorities (RMI, elderly, disability ...).
Land transfer or registration fees, amount
The inheritance tax or registration fees amount to an amount of 5.09% of sale price.
Composed of several fees to the State Department and the Town Council about the location of the property, they break down as follows:
- 3.60% county tax regardless of the nature of the property
- 1.20% of municipal tax
- 0.29% levy on behalf of the state (equal to 2.50% of total county + law a state tax rate of 0.20%)
The donation for it is taxed by the tax depending on the type and value of giving, 5-40% in different cases, and this after the reductions provided for persons of the same family.
Land transfer or registration fees, sales involved
The inheritance tax or registration fees apply to almost all transfers of properties, however, except for certain sales subject to VAT as:
- Sales of building land (except sales to an individual)
- Sales of properties in future completion
- Sales of new buildings completed within the last five years, provided that these buildings were not sold for the first time during this period to a person other than a realtor
Buy Real Estate: ancillary costs
You have wisely and accurately calculated the amount of your monthly repayments ...
Before committing yourself, also take into account the expenses that will add housing and, if you have not been fully assessed, may unbalance your family budget.
Take into account the amount of monthly charges ...
In any case, you can also ask the seller to provide you a list of their charges, collective or individual, the past two years.
Remember to think in terms of heating: Demabdez the trustee the amount of collective charges to pay and their distribution according to the quality of insulation and energy type chosen, the cost will be different.
Evaluate the work expected in the future.
If you buy condominiums
Have the trustee or the vendor, what were the operations conducted over the past five years and what are the works envisaged in the future.
Feel free to claim the minutes of meetings.
This will give you an idea of investments you should bear.
In general, the work already passed by the General Meeting of owners, but not yet completed, remain the responsibility of the former owner.
They, however you will fall in two cases:
• If they have been voted but their cost has not yet been determined for each owner
• If a clause in the contract of sale provides that the purchaser will be liable for all charges from the date of signing of the final
They include the Notary fees, disbursements and fees and charges paid to the Treasury. Established by decree, they are not negotiable and are for an old property, approximately 8% of the amount of purchase.
Do not forget local taxes!
The tax you will claim each year.
Built or inbuilt (ie built on the land or not), is due in all cases by the individual property owner to January 1st of the year.
It is payable over by those who live in housing on the same date.
To calculate the amount of these two taxes, the tax authorities determine a "rental value" which is not always commensurate with the actual class.
Ask the former owner of the former tenant and neighbours to get an idea of what awaits you.
You also pay the fee for removing garbage and, in some municipalities, the fee for scanning.
A mortgage is a security taken by the bank that the loan : they can seize your home if you are unable to pay.
Mortgage fees vary depending on the amount of the loan and the type of loan taken.
You may be able to avoid, or reduce them, by appealing to organizations that provide security to the lender the certainty of being repaid.
But beware, they do not give their favours to anyone and you need to present a folder!
Some banks have agreements with them.
Check with your agency or, if you are a public servant of your mutual.