French Property Buying Tips

Buying real estate in a foreign country can be mind-boggling. And unless you’re familiar with the specific country’s real estate climate and regulations (in this case, France), you might find yourself in a less than ideal situation, or worse yet, you might be inclined to pass up on an otherwise smart real estate transaction. But it doesn’t have to be that way, especially with our easy-to-follow tips for buying French property.

Tip #1 – Become familiar with the market

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Before jumping into the French real estate market, become familiar with the local market. Read up about current real estate trends in the country, and see what is selling and what is not. And if you’re interested in a particular region of France, make your research area specific. Part of that research should also include whether prices are stable, on the rise or are decreasing for that particular area.

Besides studying trends and price movements, surf the web for actual property photos so that you can get a feel of what local properties offer as far amenities and prices.

Tip #2 – Search out the professionals
Part of your research should involve finding the right professionals for your French real estate transaction. Search the web and Yellow Pages for real estate agents, mortgage banks and notaires (trained specifically in French real estate law). Once you narrow your selection to three or four choices for each category, ask each one for a few references.

Tip #3 – Visit prior to buying
Though a picture can be worth a thousand words, it still doesn’t compare to seeing the property up close and personal. Once you’ve narrowed down your selection of properties, take the time to view them prior to buying. Try to meet with the real estate professionals as well so that you can hire the right one for the sale.

Tip #4 – Ask for an appraisal
Though not common practice in France (outside of commercial property in Paris), ask for a property appraisal, either from the property’s architect or builder. If that’s not possible, insist that your real estate agent supplies you with a short list of appraisers in the area. By doing so, you’ll find out if the property is worth the price and the investment.

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    1 Comment »

    1. Schofields said,

      November 26, 2009 @ 10:50 am

      Hi

      These are some good tips, especially: Tip #3 – Visit prior to buying

      Visiting out of season is also advisable as a bustling town in the summer may be deserted during winter.

      I would also add Tip #5 – Talk to expats in the area

      Talk to expats in the area via forums and blogs. You can get some honest advice and tips from those who have bought there.

      There is also the AIPP Guide to Buying Overseas Property Safely that is worth a read.

      Philip

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