representation costs finance the property inheritance			Below are answers to some frequently asked questions, which should be used as a general guide and not as statements of fact. Click on a question to bring up the answer.

Who represents my interests when buying a property in France? Can I instruct a Notaire to act solely on my behalf? Who represents my interests when buying a property in France? A Notaire will typically represent anyone looking to buy property, although his/her responsibilities are typically limited to valuations, mortgage arrangements and the purchase of land. It is important to bear in mind that most French Notaires do not give advice; they are merely required to ensure a transaction complies with French Law. Therefore anyone looking to buy a property in France should make sure they are represented by a solicitor with a proven track record of managing property purchases in France. Can I instruct a Notaire to act solely on my behalf? Yes, two Notaires can be instructed in a sale transaction, one representing the Vendor, the other the Purchaser. The Notaire's fees remain the same and will be split between them.

How much are the Notaire's fees? Who is responsible for the Agent's commission? When should I send the deposit and to whom? How much are the Notaire's fees? The Notaire's fees, disbursements and taxes amount to approximately 6.5% of the purchase price if the property is more than 5 years old. Who is responsible for the Agent's commission? It is usual practice for the Vendor of a French property to settle the agency's commission. However, this depends on the negotiations. You should ensure that the price you agree is clearly stated inclusive or exclusive of commission and that the Vendor is responsible for this. When should I send the deposit and to whom? It is advisable to pay the deposit to the Notaire. You can send the deposit either on signature of the initial contract (Compromis de Vente) or at the end of the seven-day cooling off period as arranged between the parties.

How long does it take to arrange a mortgage? What are the cost implications for an unsuccessful application? Can I let my property in France? Are there any risks associated with fluctuating currencies? How do I make my French mortgage payments? How long does it take to arrange a mortgage? It usually takes approximately 2-4 weeks for a mortgage offer. It is possible to pre-qualify for a mortgage so once a property has been found the mortgage application will be processed much quicker. What are the cost implications for an unsuccessful application? If your mortgage application is unsuccessful you will not usually be expected to pay anything. However, you may find that your deposit may not be returned unless you take special care and have someone with experience backing representing your interests. We can assist in this respect. Can I let my property in France? Yes. However, the rents received will be subject to French and UK tax. You should also ensure your buildings and contents insurance covers any third party occupation of, including short term lettings. Are there any risks associated with fluctuating currencies? For people based in the UK it is important to bear in mind that, as well any potential rises and falls in the exchange rate, there are additional factors to consider. if you borrow in Sterling your actual debt will remain in sterling while the value of the property could decrease in sterling, which could result in negative equity. if you borrow in Sterling you may be faced with substantial costs when converting the entire purchase price from your local currency into Euros. The true cost of which can be as high as 5% in real terms. How do I make my French mortgage payments? You will typically be required to set up a bank account in France and pay the mortgage through the French equivalent of a Direct Debit (Autorisation de Prelevement Automatique). This account will also be used to pay for other expenditure relating to the property, e.g. local (community) tax, utilities etc.

What should I do when I find the property of my dreams? Is it possible to obtain a survey of the property? How long does the transaction take to be completed? How do I arrange the transfer of all services and insurance? What should I do when I find the property of my dreams? The agent may well propose you sign a contract on the spot so as to secure his/her commission. This is not a legal obligation and you should take the time to make enquiries and instruct a solicitor. As in the UK, it is normal practice for the terms of the contract to be negotiated and checked. Is it possible to obtain a survey of the property? Yes, although this is not usual practice in France, you should instruct an architect or a UK trained surveyor to carry out a survey on your behalf. We can arrange this. How long does the transaction take to be completed? It varies from one case to the other. However, from the moment the Compromis de Vente is signed and the notification of the cooling off period has been received, a two month delay is reasonable. This is extended however if an administrative authorisation or a search has not been received at that time. How do I arrange the transfer of all services and insurance? The Agent will normally take care of this for you. It is usual practice for him to transfer the insurance policy and the services into the Purchaser's name. It is then to the new owner's discretion to change suppliers and cancel the existing contracts.

How should I approach French inheritance law? Which method of ownership should I adopt? How should I approach French inheritance law? You should ensure that you seek advice with regard to French inheritance law in order to set up the appropriate method of ownership prior to completing. Post-completion arrangements are not possible. Which method of ownership should I adopt? There are various ownership options to suit different circumstances. We should be pleased to discuss the best option with you.