
Identifying the Right Property to Buy
- Market trends
- Initiating an efficient property search
- Working with a property search company or French real estate agency
- Understanding agency fees
- Accessing the private seller market
- Understanding square meters, loi Carrez and hectares
- Evaluating the fairness of the asking price
- Getting assurances the property is in sound condition
- Negotiating a price and formulating an offer
- Obtaining pre-approval for a mortgage to maximize leverage in price negotiation and/or reduce the French “wealth tax.”
Special Considerations for Paris Apartments
- Characteristics of the different arrondissements
- The effect on price of:
- Location
- Building style, floor, elevator and view
- A terrace, cellar storage space, service room, parking and gardien service.
- Building charges
- Clarifying a buyer’s obligation for scheduled building improvements.
The Buying Process
- The role of the notaire
- Selecting an English-speaking notaire
- Overview of a buyer’s rights and obligations
- Understanding the Compromis or Promesse de Vente (preliminary agreement of sale)
- Understanding analyses diagnostiques (diagnostic and energy efficiency tests on the property)
- Transferring the required deposit to the notaire
- Obtaining the best currency exchange rates
- Satisfying requirements of the “bank declaration”
- Granting a power of attorney to execute sales documents in absentia.
- Understanding the buyer’s right to rescind during the seven-day “cooling off period.”
Legal Issues
- Determining the appropriate form of ownership (individual, joint, corporate, etc.)
- Very important: Dealing with estate planning issues
- The pros and cons of fractional ownership.
Banking Issues
- Understanding a French bank account
- Selecting a bank
- Opening an account
- Regulations on moving money in and out of France.
Financing Issues
- Applying for a mortgage
- Obtaining pre-approval
- Credit requirements
- Selecting the best mortgage program (fixed, adjustable rate, etc.)
- Using the mortgage as a tool to avoid or reduce “wealth tax.”
Understanding Acquisition Costs
- Closing costs (notaire fees)
- Legal fees
- Mortgage costs, if applicable.
Understanding Post-Acquisition Costs
- Utilities, property insurance and ongoing maintenance costs
- Selecting telephone, cable TV and Wi-Fi providers
- Annual property taxes.
Understanding French taxes
- The “wealth tax”
- Annual property taxes
- Capital gains tax at sale.
Apartment Ownership
- Co-proprietor rights and obligations
- Annual co-proprietor meeting
- Assessments for building improvements.
Rental issues
- The Paris market
- Short-term vs. long-term rental
- How to organize the property to maximize rental revenue
- Marketing a French rental property to obtain the best clientele
- Tax on rental income.
Renovations
- Selection of architects and reliable contractors
- Interior decorating services.
Professional Assistance for non-French Owners
- Referral to accountants for filing of rental income returns
- Referral to lawyers specialized in French-American ownership and tax issues.

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