Seller's guide

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The real estate seller's guide

You intend to sell an asset, and we are delighted and grateful that you have chosen our agency to assist you.

This process can be complex and a number of questions need to be answered.

Our agency is committed to assisting you throughout the process, allowing you to sell your asset in the best possible conditions.

Our team members remain at your disposal throughout the process, and the notary concerned shall be informed in real time of progress as well as any problems that may arise.

During the sale process, you may meet your notary in order to discuss any property and tax issues that may require clarification.

The different stages of my sale

The list of the essential steps in a real estate sale.

Step

Term

Description

The offer is accepted
You entrust your notary with the mission to represent you 1 - 2 DAYS
Signature of the sales agreement 2 - 3 WEEKS With the assistance of your notary, we draw up the file in order to obtain all mandatory documents.
We help you to filter this information and fully understand its significance and importance.

10-day withdrawal period (if applicable)
Signature of the authentic deed 2 - 3 MONTHS This accepted delay is required to :
  • Satisfy the conditions of the cooling off period
  • Allow your buyer to obtain a loan
  • Satisfy any pre-emption rights that may exist
  • Obtain all mandatory documents
  • Allow you to remove your belongings from the asset
Signing of deeds of succession and payment of inheritance 6 MONTHS AFTER DEATH The required notary deeds must be signed within 6 months of death, and the estate tax paid. It the decedent passed away abroad, an extension of 6 months is automatically

1. Once the offer is accepted

You have accepted an offer and must now call on the services of your notary to assist you.

If your buyer has a notary, we shall immediately contact the latter and send him/her all documents that are already in our possession.

If your buyer does not have a notary and wishes to use the services of your notary, we shall contact his/her office.

2. Drawing up the file (two to four weeks)

The 2014 ALUR law, also known as the DUFLOT law, considerably increased the deadlines for compiling sales files. Below is  a list of documents that you must collect, with our assistance and that of your notary.

  • Regarding the property:
    • Title deed
    • Co-ownership regulations, and all modifications
    • Annexed plans and units sold
    • The Carrez Law measurement certificate
    • Technical diagnostic file
    • Diagnostics of the common areas
    • Possible work permits (co-ownership, town hall, etc.)
    • Lease, last rental receipt, inventory (if the asset is rented)
    • If recent work has been carried out:
      • Town planning authorisations
      • Declaration of completion of work and certificate of conformity
    • If work has been carried out within the past 10 years:
      • Certificate of work damage insurance
      • Proof of payment
    • Copy of the last property tax return
  • Concerning a co-ownership, if applicable:
    • Minutes of co-owners general meetings for the past three years
    • The building’s maintenance register
  • Regarding the parties:
    • Your complete civil status certificate
    • Copy of your identity card (front and back) or passport
    • Your marriage contract or PACS (if applicable)
    • Signed bank details (for payment)
    • An updated ‘Kbis’ extract and statutes (if applicable)

Please note that District and your notary can help you find some of these documents: please let us know ASAP which are not in your possession.
Your notary will also contact the land registry services as well as your property management company in order to obtain other compulsory documents.

3. The rendezvous for the signatures of the sales agreement

As soon as the file is complete, we shall do our maximum to reduce to a minimum the delay before a rendezvous for the signature may be fixed corresponding with the obligations of all concerned.

  • The unilateral promise to sell, certified by notary:

Reservation fee (generally 10% of the sales price, with a tangible payment of up to 5%).

This sum is kept at the “caisse des dépôts et consignations” pending the final sale.

Be aware that your purchaser(s) benefit(s) from a withdrawal period of 10 incompressible days from the day following receipt of the notification of the signed preliminary contract, accompanied by annexes and all mandatory elements as required by the ALUR Law.

  • Your buyer’s loan :

Your buyer may fix the condition their acquisition is dependant on a loan being obtained. A delay is agreed to (usually of 2 months and fixed between the parties during the meetings) in order to obtain required financing. We shall let you know as soon as your buyer has received his loan offer.

4. Fixing the date for the signature

If no loan is to be obtained, the final signature can take place rapidly once the notary has collected all of the required documents and once the withdrawal period has passed and any pre-emption rights have been satisfied.

We shall organise the meeting for the final signature, in agreement with all concerned parties.

The usual delay for the signature is approximately three months.

  • Last visit to the asset

Remember that it is necessary to return to the property prior to the signature in order to read meters (gas/EDF/water). We can take care of this and check with your buyer that everything is in order.

If the property is sold unfurnished, you must by the signature date have completely emptied it, including the cellar.

Finally, don’t forget to bring all of the keys to the asset sold in order to hand them over to your buyer.

The cost of my sale

All so-called “notary” fees are at the charge of the purchaser. However the sale is likely to generate certain costs at your expense as detailed below:

Agency fees:

If the fees are at your charge, these shall be automatically deducted from the sales price when the authenticated deed is signed.

Reimbursement of work you have voted for:

On the day of signing the authenticated deed, you may possibly be required to reimburse your purchasers for work you voted for at the co-ownership general assembly and which has not been paid for at the time of signature

On the day of the signature of the deed, the buyer shall reimburse you:

  • The pro-rata of property tax for the current year
  • The pro-rata of charges for the current quarter (if applicable)
  • Working capital (if applicable)

Les frais de syndic :

The latter shall bill two service:

  • The “pré-état daté” (required for the agreement to sell)
  • The “état daté ” (required for the sale)

Generally costing around 500/600 euro, these are provided for in your property management company contracts.

Capital gains tax:

If the property you are selling is not your main residence, you are eligible for capital gains tax. We can, of course, carry out a simulation at the time you wish to sell. Do not hesitate to ask us.

  • There are two cases of total exemption from capital gains tax:
    • You have owned the asset for more than 30 years
    • You are selling a dwelling that is not your main residence ; exemption is subject to investment of all or part of the transfer price, within 24 months of the sale, for the acquisition of an asset which shall become the main home
  • A partial exemption exists:
    • Specific exemption in favour of natural persons, not resident in France, nationals of a Member State of the European Union or of another State party to the European Economic Area (EEA) which has concluded with France an administrative assistance agreement to combat tax fraud and tax evasion
  • This exemption which is applicable within the limit of one residence per taxpayer is  150,000€ on the net taxable capital gain, on the twin condition that:
    • The person yielding has resided in France continuously for at least two years prior to the transfer
    • The transfer takes place at the latest on the last day of the 10th year following transfer of the free disposal of the asset

Mortgage:

If applicable, the remaining amount due to the bank shall be taken from your sale price for total repayment of your loan. The property may also be subject to a hypothèque.

Your notary shall take care of this levée d’hypothèque to ensure that the buyer acquires a property that is free of registration. This formality is compulsory. The cost of this deed is approximately 0.2% of the inscription d’hypothèque (Your notary will inform you in advance of the exact amount). This amount is deducted from the sale price.

Missing documents:

Please note that notaries and land registry services charge for any requests for missing documents (title deed, lot plan, etc.) that you are unable to provide us with. You shall be responsible for these costs.

Power of attorney: 

You must be present for the signatures.

Exceptionally and in the event of a major impediment, you may be represented by means of power of attorney.

Drafting, sending and explaining this to you will require additional working time for the notary.

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