Sunday, 5 July 2009

Sunday, 5 July 2009

French property fees

Most French properties are advertised on the internet with agency fees included. Typically these fees are 6-7 %, and are paid for by the buyer, not the vendor. (This actually works in the buyer's favour, since otherwise the fees would be added to the purchase price and Notary fees payable on the increased sum. Be careful though, some agents charge much higher fees!
Some agencies quote a fully inclusive price, (i.e. inclusive of all fees). Whilst at first glance this may sound like a good idea, the actual figure is often inaccurate, since the price may include furnishings or white goods etc. making the Notary fees quoted inaccurate.
On our website http://www.allez-francais.com all prices are inclusive of agency fees, but exclude Notary fees. So just how much are Notary fees and how are they calculated?
At the bargain basement end of the market, say 60,000 Euros the fees are around 8% (4,692 €).
At 150,000 Euros, the scale drops to 6.74% (10,110 €), and at 255,000 has reduced to 6.43% (16,397 €). For properties above a million Euros you are paying around 6.3%.
So if you agree a purchase that is worth 210,000 net to the vendor you would expect to pay an additional 12,600 € in agency fees, and 14,350 € in Notary fees, making a fully inclusive price of 236,900 (12.8% in fees).
NB. Additional fees are payable when there will be a mortgage registered against the French property.
Peter Elias (Agent Commercial), La Moinerie, 79500 Paizay le Tort, Deux-Sèvres, FRANCE Tel: 00 33 (0)5 49 27 01 22 or Tel: 00 33 (0)871 7 17 4176 Mob: 00 33 (0)6 62 28 02 25
Visit our website http://www.allez-francais.com/search.php to see around 300 properties in the Poitou Charentes for sale.
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