Real Estate Market in Cote d'Azur

Purchase

French legislation seriously discipline the real estate transaction giving all the power to the notary, which in fact he's receiving the deposit and the sound.

That notary personally providing to pay eventually the outstanding accounts including the charges, giving only after that the price or eventually the difference to the seller, so assuring to the buyer the free total property.

New Product

Purchase's procedure is different: in this case the first act is to sign the booking contract (which is practically a preliminary contract) and leave to the notary a check, 5% of the total price, as a deposit.

Notary is selectioned from a important banking institute assuring work's end up. Is possible to have a French loan.

The notorial deed will be 3 months after the booking contract.

Cost of the act (notary's charges and tax) is reduced from 7,5% to 2,5-3% of the total price. Payment's expiry following work's state.

The building, besides the bank's guaranty for work's end up, is assured, eventual problems or defects, for 10 years.

Resale's product

In this case, once found the products, you can fill a purchase offer form and, if the owner accept, stipulate a compromise, leaving to the notary 10% of the total price as a deposit.

The legislation RSU protecting only the buyer, give him the recessing possibility for 7 days, while he can always receding without loose the deposit, that the notary give him back immediately.

In case you buying with a loan, is compulsory to enclose in the purchase offer and in the compromise a mortgage reserve so in case you don't have access to it, you can recede and recuperate the deposit.

The cost of the act (notary's charges and tax) is 7,5% of the total price.

Loan

Procedure to have access to a French mortgage is easy also for foreign

Procedure

Is necessary to fill a loan request form with the amount, length, holders, product in object. In max 10 days the banking institute will send a mortgage proposal with all the financing details: total amount, length, amount of every instalments with capital and interest, payment system etc...the applicant has 10 days to study the proposal an decide do accept in the first case is enough to send the form to the bank and waith the financing to be ready for the notorial deed.

Cost par year

Tax fonciere

Is a tax relating to surface, age, cadastral's category of the property. Payable with check of current account within October.

Tax d'habitation

Is similar to the first one but it can be payed from the owner or the tenant (who exploiting the property) Same timing of the first one too.

Charges

Payable from who exploiting the property.

Rentals: residential and seasonal

Residential

In this case there is 3 years length's contract renewable, property has to be without furniture, in good conditions and with all the systems according to law.

Seasonal

Weekly or monthly, property has be completely furnitured and with all the systems according to law. Is necessary to choose a managing company to give a commission. The managing company looking for the tenant, stipulate the rental contract, receive the rent and put on the current amount of that owner, checking everything else and send report every 3 months.