How to buy property in France

Written by G D Gibbs

Continued from page 1

The Notaire A French notaire is a publicly appointed official who is responsible for ensuringrepparttar property has good title (ie, no irregularities inrepparttar 136972 ownership) and thatrepparttar 136973 purchase or sale is correctly transacted. Because notaries are personally responsible forrepparttar 136974 contracts drawn up they must be objective inrepparttar 136975 advice they give and be impartial in their dealings withrepparttar 136976 parties concerned. A notaire represents neitherrepparttar 136977 seller norrepparttar 136978 buyer butrepparttar 136979 French Government. They can also act for a client anywhere in France. The same notaire therefore usually acts for bothrepparttar 136980 vendor andrepparttar 136981 purchaser. This is not obligatory and you can appoint your own notaire if you wish. The fees (paid byrepparttar 136982 purchaser) are fixed by law and will be split between both notaires if two are appointed. You should be aware thatrepparttar 136983 notaire’s job is to finaliserepparttar 136984 agreement he has been told has been recorded. He is not there to advise or warnrepparttar 136985 purchaser of any inadequacies in it. His role is therefore very different from that of a solicitor. If you are making a purchase with a mortgage, you should at least instructrepparttar 136986 notaire/estate agent to make your purchase conditional upon obtaining a mortgage: ‘conditions suspensives’. This will offer you further protection under French Consumer Law. Upon signing this preliminary agreementrepparttar 136987 purchaser has to place a deposit withrepparttar 136988 notaire, which is normally 10% ofrepparttar 136989 purchase price and will be deducted fromrepparttar 136990 sale price. Completion Completion is whenrepparttar 136991 final deed of sale is signed and legal ownership is transferred torepparttar 136992 buyer. It is at this point thatrepparttar 136993 balance ofrepparttar 136994 purchase price plus any extras such asrepparttar 136995 notaire’s fees, taxes and duties are due. The monies will be paid directly byrepparttar 136996 bank torepparttar 136997 notaire. The final act isrepparttar 136998 signing ofrepparttar 136999 deed of sale (acte de vente) which will take place inrepparttar 137000 notaire’s office. It is normal for both parties to be present whenrepparttar 137001 deed of sale is read, signed and witnessed byrepparttar 137002 notaire. It is good advice to attend in person atrepparttar 137003 notaire’s office forrepparttar 137004 signing and witnessing ofrepparttar 137005 deed of sale. However, if this is not possible you may invoke a power of attorney. Each page has to be initialled by bothrepparttar 137006 seller and buyer and both must signrepparttar 137007 last page after writing in French ‘bon pour accord’ which means they have understood and acceptrepparttar 137008 terms. There are no title deeds as such in France and proof of ownership is provided and guaranteed by registration ofrepparttar 137009 property atrepparttar 137010 Land Registry. The Land Registry’s stamp is put onrepparttar 137011 deed of sale andrepparttar 137012 notaire gives a certified copy torepparttar 137013 buyer around two months after completion ofrepparttar 137014 sale. Rates and Taxation Taxe Fonciere This is a land tax. The size ofrepparttar 137015 property determines how much is paid and owners of new properties are exempt forrepparttar 137016 first two years. The tax is paid byrepparttar 137017 person owningrepparttar 137018 property on 1 January of each year with payment due inrepparttar 137019 final quarter ofrepparttar 137020 year. However, ifrepparttar 137021 property ownership changes thenrepparttar 137022 purchasers must usually reimburserepparttar 137023 sellers for their share. Taxe d’habitation This is a local services tax. It coversrepparttar 137024 services and maintenance provided byrepparttar 137025 local council and again is payable annually inrepparttar 137026 last quarter ofrepparttar 137027 year. The estate agent will advise you ofrepparttar 137028 taxes in relation to your own property and tell you how much you will need to pay. The tax demands will be sent torepparttar 137029 address ofrepparttar 137030 French property. French Inheritance laws and Taxation These are specialist areas and we strongly recommend that you seek professional advice. French inheritance laws are particularly different to those abroad. You are well advised to take legal advice on these matters before completingrepparttar 137031 purchase. You may also be liable to French tax if you derive any income fromrepparttar 137032 property, ie, letting fees. You must register withrepparttar 137033 French Taxation Centre for Non-Residents when you buyrepparttar 137034 property. France has signed taxation treaties with most countries which means that you avoid double taxation.

I publish and edit a free french property magazine entitled Your-move-france. I also operate a website Both are independant and not linked to any agent or organisation.

Setting Yourself Up For Success

Written by Cecile Peterkin

Continued from page 1

Steps to Success

1. Know your Potential: In order to succeed at anything you need to see that you haverepparttar potential to reach your goals

2. Understand your Goal: List three or four reasons why you want to achieve this goal? What isrepparttar 136954 result you want to obtain?

3. Set Realistic Goals

Cecile Peterkin is a Certified Career Coach, Retirement Coach and Speaker. With over 17 years of managerial, leadership, empowerment counseling and personal development experience, Cecile specializes in helping Middle Managers overcome the “Middle Syndrome” of being stuck in a middle position in mid-life. To learn more about Cecile, visit her website at

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