Are they clearly marked by fences, hedges or walls?
A structural survey is different from a diagnostic survey.
Subscription to our free email newsletters to keep you updated on tax, property, legal issues, holiday offers and life in France. You can’t change the ownership structure later on, so it’s important to consider this before you buy. You should never pay in full at the beginning of the process. Never hand over all the money at the start of the process – payments are made in stages, with the final payment due when the property is completed (after snagging). Any amount that you pay to the seller should be legal and declared; don’t give the seller money “under the table.” This type of deal may save you money in taxes at first, but if you decide to sell the property, you’ll have to pay more in capital gains taxes.
However, there are certain potential pitfalls and these vary according to the type, age and location of the property in question. Well, firstly let me reassure you that the French conveyancing system is very well organised and secure. If the previous owner has died or if the current owners are divorcing, this can lead to delays in the transaction and so it is best to know all the facts at the outset. Agency fees are at the agency’s discretion but are normally between 5¬-10%; they are usually paid by the buyer but may be included in the asking price (‘frais inclus’). For further peace of mind, you can choose an agent who belongs to one of the French real estate organisations, such as FNAIM (Fédération Nationale de l’Immobilier) or SNPI (Syndicat National des Professionnels Immobiliers). This will freeze the exchange rate. Once you have an estimate of how much you’ll spend, you’ll need to exchange your money. Never agree to a deal with the seller where you pay less on-the-books in order to save on taxes. Banks tend to have high rates, and a specialist will be able to get you the lowest rate possible. Notaire’s fees include various taxes like stamp duty as well as their actual fees (set on a sliding scale according to the value of the property, usually 7-¬10%). Your one-stop guide to buying and living in France. Decide what work, if any, you’ll handle yourself, and if you’ll need to hire an architect, a project manager, specialist tradesman or builder, etc. If you’re unmarried, you may have to pay as much as 60% inheritance tax. Instead, payments for development projects are made in stages. According to French law, you have to leave part of your estate to your children; if you don’t have children, it can go to your parents. • If the property you are considering buying is an apartment or is part of a complex with shared facilities, there will be a legal structure in place known as “une copropriété” (a co-ownership). Under French law you have to use a ‘notaire’, but they are not the same as a UK solicitor. It’s possible to avoid this by having a civil partnership.
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