Ahuizotl

[quote]Has anybody received legal advice regarding this company ( Axal Corporate Ltd ) or the Leaseback Property Scheme at Excellior Viegy. Having just received a letter stating that the rent payable to me...[/quote] I bought 2 leaseback properties managed by Excellior (Nice and Cannes). I noticed they are now late to transfer money to my bank account. Payment due last day of the quarter , and now receiving the money about 15/19 days later. Others leaseback properties managed by Gestrim and CERS are on time. http://www.residence-excellior-cannes.cote.azur.fr/page_en_1.html You wrote Excellior Viegy. The correct name is probably Excellior VEIGY-FONCENEX-GENEVA

Hmmmm......I just read another opinion on a different forum called C4:  about lease back properties in France > Be very careful. I looked into this before the start of the current ski season and had all but booked flights to go and visit a couple of leaseback properties before the agent I was dealing with had some unexpected news. I had read a few horror stories about leaseback with people warning me that even at the end of the lease the property was never owned outright - I had asked the agent about this a number of times and he assured me this wasnt the case. He then came back to me and advised that this was actually the case - the initial term was I think for 10 years, and it was a condition for me to own the property that I must enter into another lease with the same people the terms of which would be negotiated at the time. This had to be a neverending arrangement, and I would never own the freehold. The agent tried to tell me that this wasnt a problem and that I could sell the property at any time. However, when I asked how many properties they had sold which were subject to a leaseback (not the original lease) he conceeded this was none. I therefore abandoned this as a bad idea. If I were you, I would not look at the leaseback as being an easy route to owning your own property. In addition, I believe the legal documents involved in a leaseback are quite complicated, and you will need these reviewed by a solicitor familar with this aspect of french law - this is much more expensive that a traditional resale property.   another > posted 14-02-05 20:00 lease back can be a real can of worms, be warned before opening. Works well for some on the coast though.  The problems are..... how we can be sure we will get complete freehold of the property after 9 years lease.....if the management company, in this case ODALYS, wants to keep the business for another 9 years lease.... ??? I have read the proposal  commercial lease terms from  Odalys.... nothing mentioned.....??? !!!

Would like to buy a French lease back property in Cap d'Agde, between Sete and Narbonne. Proposing 39 m2  plus 7 m2 terrasse 84.000 Euro HT, with 5 % yield garanti for 9 years., with 5 weeks free each year. Your opinion about lease back properties in France will be appreciated. Anybody having invested in lease back properties ? Thanks