From lovely farmhouses, apartments as well as historic buildings, France offers a gorgeous landscape in the real estate industry. Whether it's for vacation home, investment or a permanent residence, France real estate has long been a dream for the foreigners.
It’s nothing but considering France as one of Europe's most attractive countries with a diverse range of culture. Further, French real estate is believed to be an alternative to other Europe’s realty market.
To picture the current market, France is now witnessing a home shortage for low and middle class families. One of French real estate agency stated that demographic trends are believed to be the main reason behind this home shortage.
In 2021, the real estate volume transaction is expected to grow in a huge pattern. The growth itself mainly caused by low interest rates, impressive bank lending numbers, around 1.4 percent annual. Moreover, the impact of EUR 10 billion tax cuts initiative to build a new real estate market in France is more likely to boost growth.
Foreigners were also able to purchase property in France with no restrictions and limitations. Although the majority of property units are freehold, up to 99-year unit leases are also available to the market. Be mindful that every realty transaction must involve a French real estate agency in its process. In addition, agent can guide homebuyers from beginning to the end process. Here are the benefits of using a French real estate agency while looking for property in France.
When negotiating a deal, real estate agents are required by law to act in the best interests of their clients, which is known as fiduciary responsibility. When dealing with sellers and their listing agents, the realtor will act as your advocate and representatives.
As home purchase will be a person's largest financial transaction in life, it's critical to have an expert standing by your side.French real estate agency will offer expert advice to any stages of home transaction. Generally , the buyer deposits roughly 5% to 10% of the purchase price with the notaire, who holds it in a separate account for the buyer. The deposit serves as a warranty until the property sale is completed.
When searching for a home in France, it's essential to compare each property and each of their valuation. An experienced real estate agent are capable of conducting research and providing you with useful data about the current market condition. Commonly, realtors will do a deep research and determine whether the houses you are interested in worth the value or not.
French Real Estate Agency Expertise
French real estate agency will feed you with recent information on markets, environment, social and other external factors. This is to give you a broad sense about your decision, whether a particular area in France is the right for you or not. Searching for French homes for sale is only a piece of the puzzle. As each country possesses different regulations, you will need details about French real estate regulation.
Real estate process is more than just choosing desired houses and signing on the documents. You will be involved in pre-approval letter, underwriting process, legal filing until the home closing. It's wise to hire a French real estate agency to be someone who helps you read page contracts, disclosures and addendums. These types of agents can assist you in assembling, preparing, and understanding all of the paperwork required to purchase a home.
After the preliminary agreement is signed, local authority, structural surveys, planning permission and land registry are carried out. Both buyer and seller will sign the Acte Authentique de Vente at the Notaire's office after all formalities are completed. On average, a French real estate agency can guide you in completing all ten procedures to register a property in France in only 193 days.