COMPASS IMMOBILIER: Purchasing French Property - costs

COSTS

The cost of a purchase is a very important question to be addressed, especially when you are at the very beginning of the process and are still at the stage of asking ‘Do I want to purchase a property in France?’

The costs involved in a purchase of French real estate are higher for the purchaser than those incurred when buying in some other countries. In principle, the purchaser is responsible for the costs and fees of the purchase. The main costs and fees are listed below:

AGENT’S FEE

This is generally around 6% of the purchase price. Legally, properties must be advertised including the agent's fee - this should be made clear in the actual advertisement and is usually indicated by way of the annotation ‘FAI’. If you are not sure then you should always check, particularly before making any form of commitment. Technically in the paperwork the fee will either feature as a separate item payable by the purchaser or it will be included as part of the purchase price payable by the vendor. If it is a separate item payable by the purchaser, this is an advantage for the buyer due to the fact that the notaire’s fee is slightly lower because it is calculated on the net price. The mandate with the agent for the sale of the property will determine which will be the case and the fee due will be listed therein. You are entitled to view this document.

The fee is only ever payable upon completion of the purchase.

Copyright All Rights Reserved Victoria Headdon, Compass Immobilier