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Camille

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Everything posted by Camille

  1. These replies are perplexing (other than the ability to repay part). There is absolutely no reason one should not get a mortgage (a French one) on property of value provided the means to repay fit within the French lending norms and the applicant qualifies. There are also presumably equity release schemes, though I have no specific experience with that as I am on a mortgage for my second home outright, as well as with mortgage on my principal residence. A UK loan I could more understand would be a problem on a French property. Can anyone elaborate a little more? Camille
  2. unless/until I find another offer, to anyone who can bring down a small sofa (1.85 m long) and chair (2-3m2 total volume) from private party in Ablon Sur Seine (Paris Orly adjacent) and deliver about 7km from Souillac (on the A20 Paris-Toulouse autoroute about 4.5 hours south). Decent deal for anyone already going south to Toulouse or SW or beyond by that major thoroughfare. Need delivery by May 20-22. Camille
  3. Not at the country club, but I bought just outside Souillac and I love the area. I could solicit some feedback from French friends and other locals who live in Souillac/Pinsac fulltime who will presumably know of someone who has bought there. I believe the country club is actually a little north of the town, right? I suppose you have been to visit the property already or are you in the very preliminary stages of your review? I wish you luck. Camille
  4. I posted on the postbag also, but I need to transport a small sofa and armchair from near Paris-Orly (Ablon sur Seine) to Souillac off the A20 south of Brive. Demanageurs are of no help at all. Renting a truck is insanely expensive. I'd love to hitch a ride for these items for a fee in euros if anyone's going up near Paris or going through Paris to go south. Any ideas? Thanks. Camille
  5. Does not sound a relative bargain compared to simply wiring (which is roughly the same fee isn't it?), and at least with wiring you have reasonable knowledge of the exchange rate you're getting. By depositing the check you really are rolling the dice aren't you, since it exchanges at the rate in effect when the check clears, which is weeks away from when you deposited it. Camille www.maisonquercy.com
  6. I would open a bank account near where you're going to be purchasing a property. Britline can only help so far and eventually you're dealing in French anyway so you may as well be more local and have people who actually know you, and you know them, and when you need to check your balance they don't look at you like you're from Mars even though it's the same company. As for your plan, do you really want to take out a loan in sterling, and convert all at once to euros to purchase a property (at this all-time high or nearly all-time high of the euro --- which means horrible exchange from sterling to euro). Would it not be better to pay as you go, and wait to transfer the funds later? Send only what you need now, and it will likely be either the same rate or better months from now. Camille www.maisonquercy.com
  7. No particular bank there (though down where I am I love BNP!). I'd think you should be able to walk into any well-known French regular bank (as opposed to Credit Agricole which operates slightly differently) in a sizeable market town, and either stumble along in French or find someone on the staff that speaks at least a bit of English. After a while you have to learn the statements anyway as well as the cheques (even Britline when I was with them only ever sent me correspondence and statements in French!). Just spend a morning walking about and enquiring. You probably won't spend more than an hour before you've hit upon some place where you feel a certain comfort. Camille www.maisonquercy.com
  8. The granting of a CU is a commonly requested clause suspensive in a compromis when the subject property includes buildings to be converted. Leaving it out would pose a big risk in most situations; you could be forced to buy something you can't convert or else forego your deposit. Don't be shy when it comes to protecting yourself on such an important issue (and on the other hand don't sweat the small stuff). The only other issue might be that you get an idea of the renovation costs pertinent to the kind of CU you can get. If you are in an exceedignly regulated area you need to know if you're going to incur far above average building costs. Perhaps another forum member can comment on whether that concept can be introduced into a compromis. Remember also to require that you be apprised of and approve any rights of way issues after the land has been divided by the geometre. Your compromis should state that the property should comprise the bits of land as described, and be free and clear. That's in addition to any other typical clause suspensives (such as termite, financing if required and so forth). Good luck. Camille www.maisonquercy.com
  9. With higher returns can come risks, including no insurance for your deposit should the financial institution itself fold. Not a statement of fact per se, as it applies to off-shore, but merely a flag so you consider that before plunking your funds in any account including an offshore one. (Unless you thrill at that sort of risk.) If they are insured, then may as well go for it and then just deal with all the other usual pros and cons. Happy investing. Camille www.maisonquercy.com
  10. LAST EDITED ON 28-Mar-04 AT 05:05 PM (GMT) The process is well regulated here and it may be unnecessary provided you're comfortable you've researched this and know the common pitfalls and the general way that estates work. You basically want to make sure all the clause suspensives (e.g., financing, that the systems are as declared by the owner, that there are no rights of way or other adverse conditions...you can't back out based on roof repair for example) are in there and that it provides for you to get your deposit back should you terminate before the final acte on the basis of one of the conditions not being met. I did mine on my own, but then I researched this extremely well and I also do contracts for a living and that might have been overkill (we signed the third draft of the compromis and some things I had suggested ended up going out the window), though I think the notaire took a couple changes to heart for future use. Many others also do on their own like any other property transaction. If you want advice professionally, you should be sure that you have the appropriate kind. If you're forking out the money, personally I would prefer a French property lawyer who can speak English, or else a reputable firm located in France with bilingual lawyers specializing in this market as well as your UK estate issues. Otherwise, you might be paying out money and getting the same result as you'd get if you just exercised some reasonable care and read things for yourself. Happy buying and good luck with the process. Do post the rest of us about how you fare. Camille www.maisonquercy.com
  11. I'm certainly no expert on French law, but just on a basic level it would seem reasonable that in any law's eyes (UK, French, take your pick), married people are treated as married for tax and other financial and legal purposes no matter what the estrangement (I suppose really rare bizarre circumstances could be mitigating). And here it certainly doesn't sound like estrangement if she hasn't sought legal separation much less something more "final" like divorce. Otherwise think of all the tax or other fraud that could be possible based on dubious claims of separation (not by the majority I'm sure! just begging the question). If this woman wants to be treated as not married and if there is no option for filing separate despite being married, then it seems up to her to terminate (legally) the marriage. Camille www.maisonquercy.com
  12. I would like to retain a local attorney for advice primarily dealing with letting a second home in France but also on regulations on property improvements, in as local a context as possible. This would be in the Northern Lot, outside Souillac (should I be so lucky as to narrow it down that far). Someone further out is fine so long as they are still in France, and know how to navigate efficiently for "micro-local" regulations. English-speaking is not essential, fluent French likely is. I can almost always make myself understood in French (though it can sometimes take several different approaches before that happens!) and I have fairly reasonable comprehension. Translation can fill the gaps either way. What I'm after is true expertise and efficiency, and if that comes in the form of a bilingual attorney then what a jackpot that will be. If the attorney only spoke English I'd understandably be concerned. Thanks much for any referrals. Camille www.maisonquercy.com
  13. I'm with BNP Paribas which has it (though, honestly, I need to sit down and figure out which codes I'm supposed to be using so I can really see and experience the breadth of services on offer online there). I think many other French banks do also. You just need to talk to your branch and set it up; then when you get the codes etc. maybe have them walk you through a demo. But you can set up certain standing orders with EDF etc. and on case by case basis your taxes. Just about any bill you receive will have a slip of paper, if you elect that option, that you can return with your bank details or RIB to permit them to have it drawn out of your account. Camille www.maisonquercy.com
  14. Silence is probably not a good sign. If you have a deadline, I would run to the nearest branch of a major bank and try to get a backup offer. CA missed my deadline despite having 8 weeks with my dossier and assuring me all was fine and understood and in order. And mine was not complicated. I'm not a self-employed person trying to do a business. I had probably the most simple application. Fortunately, I had a sick feeling in my stomach about it well in time. A local branch of another bank got me an answer a binding answer in just 5 days, a week before my deadline. It saved the deal. Could have been just a fluke, but all the same I think when you're in the middle of a purchase you cannot leave anything to complete chance. If they come through in the end (on time) with the terms you want, great, but in the meantime, if you haven't received a binding offer from someone, and time is just going by, do whatever to ensure you get one that you can abide with and then at least you have some peace of mind. Otherwise, if you wait to the last minute you could be forced to accept whatever terms are offered by the one option you had, or, worse, if they don't come through on the deadline in your compromis (!!!), you'll be faced with making the decision "Should I stay or should I go." Keep your options open, and then when you have your offers, go with whatever makes you feel good and right. I believe in France that (at least most of the time) you don't incur application/dossier fees and such unless you actually go with the offering bank. I certainly didn't. Good luck. Camille www.maisonquercy.com
  15. Marcus, (so biased in more ways than one). Sounds like you've discovered an untapped market. Any thoughts to coming up with a magazine for transplanted English speaking peoples living in France already? You might do well, and you could find your contributing editors on this forum perhaps (one for each department). Some with biting wit; others with more reserved commentary. Not me. (I'm not a writer.) But I love a good read. And it seems there may be pent up demand.... Camille www.maisonquercy.com
  16. Honestly, if you happen to be buying in a popular area you can basically bank on surveys being a deal breaker, unless you simply say that you accept all the obvious flaws and your contingency clause is basically only intended to be a disaster clause (e.g, if the fosse is not a resolvable problem - see that place in the sun thread gone wrong thread, unless that was merely a minor money problem -- and you cannot render it habitable). If your vendor cannot agree to that, then you may want to walk away. But otherwise, you should not be banking on typical UK or other customer to use surveys to find various flaws of modest importance and then try to use that in the negotiation to either force the repair or reduce the price. That simply does not exist in the French mindset and will quickly make you an unpopular buyer. I believe it is true you cannot bring surveyors before the compromis is signed (since you put your survey in the clause suspensive). Therefore, you need to examine what are your purposes for the survey (to ID the general state of things for your future reference in maintenance/repair scheduling; to ID anything really significant). Then determine how important it is to you to hinge the sale on that. France is mainly an "as-is" market, so you have to understand that if there weren't all those things to do you'd likely be paying a much higher price. I hope that clarifies it, and you shouldn't be put off from using a survey. It is important to have information about your property, but just be mindful of how you present it and to what degree it is simply for your own purposes and to what degree, if any, it has anything to do with the sale. Good luck!!! Camille www.maisonquercy.com
  17. I just posted something else with forum technical problems on messaging. Probably the the only thing you can do is (and for future only obviously) don't tick the box, but keep a separate document file on your computer listing topics you've started and where they are in the forum, and then just keep checking back for new replies (the icon to the left will be colored whenever new postings are there) when you log on and scroll through. At least your inbox won't be overinundated. You'll still have to sift through replies. Sorry it's not more helpful, but I wasn't even able to get an administrative response to my problem so I just had to find a way around it. Maybe there will be a poster who has found a way to have it "both" ways (to turn off after having turned on). Camille www.maisonquercy.com
  18. Nevertheless, is there not some reason they cannot draw up and complete the compromis de vente with the inclusion of a clause to address this matter (including a cap on the price for the additional land, assuming you are taking that on and not the vendor)? (And if your proposed purchase does not already require approval of the SAFER, then such clause would need to address that any applicable SAFER approvals must be obtained for the purchase of the parcel from the neighbor who may well be on land that the SAFER must approve for purchase). I applaud the efforts and apparent forthrightness of the vendor/notaire to get things underway, but all the same, you're sitting 'round with no assurance that subject to this being sorted out he is agreeing to sell to you (surely there is a reasonably fixed or estimable value by square meter for plot land, and worse case you could tack on an extra 10% or whatever you're comfortable with, as the contingency price for it?). As for the timeframe, it could take some months and be sure to be on top of the notaire. It sounds like you have a good one, but mine, or rather the vendor's (early on I got my own notaire, who was also French) was fully incompetent or rather borderline criminally negligent or wilfully disruptive if that is indeed an appropriate concept for notaires. He outright failed to submit the survey to the SAFER (this is after failing to timely deliver signed compromis de vente to me and to the vendor, failing to send the compromis to my bank which is a whole other off-topic story, and a host of other failings -- I had to personally go to his office and get copies and deliver it to the vendor) and then he had the nerve to lie about it to the French vendor, as well as to my notaire. The French vendor then got really upset with my team (for delaying the sale, I think it took 6-7 months to complete and that was with constant intervention) but then after getting the real story the French vendor felt very bad, apologized profusely to my agent and my notaire (and as I understand, much as it was not his style to be confrontational, gave his own notaire the "what for" and told him he'd never have his business again). I probably could have sought disciplinary action, but it's doubtful it would have got anywhere from a legal standpoint (there was a part of me that would be satisfied merely to have him disbarred so to speak). But more importantly at the end of the day I would only have made an enemy in a small enough area so there was no reason to rock the boat (as an outsider pointing blame at an insider). I think it was ample enough that an insider (French no less, and from one of the established local generations who owned a great deal of property) was very unhappy with the services and was in a position to exert (or not) other more subtle but no less useful consequences. In any case, I have a fabulous relationship with the vendor, my agent and notaire were top notch, and all worked out in the end. But it shows diligence is important. Good luck to you and, above all, patience! If this is truly your dream property, the rewards will be worth all the trouble you take to cover your bases. Camille www.maisonquercy.com
  19. Good that you put that clause in; just be sure when you get it (since you say you've got two renovations to do) that if you're not immediately getting both done perhaps you get going on renovating the more problematic one first, lest the CU for it expire beforehand. You never know when the local authorities may have a change of heart... and after expiration of the new CU you won't have your clause to protect you. I seem to recall the CU is good for a year, but I can't be sure (I was offered a clause to obtain the CU but since I had no plans to immediately convert (if ever) some outbuildings, I passed as I was told by my agent that while it would be illustrative of the current local attitude of the authorities it would not guarantee I could get a CU 5 years later. I had no reason to disbelieve that premise, and my agent wasn't pushing me in either direction, I simply made that choice on my own). In any event, you will find out soon enough how much time you'll have. So just remember to be mindful of the expiration date unless you're feeling lucky. Camille www.maisonquercy.com
  20. I wonder whether you might be better off engaging a business lawyer from a more broadly recognized, internationally very well respected legal firm that has offices both in England and in France (and perhaps other places as well). It isn't cheap by the hour (but then consider the sometimes exhorbitant premiums charged by some UK property consultant firms). But since you indicate it is simply advice on small matter, which connotes very little time to be expended (expecially if coming from an expert) it might be worth it as insurance to have a sound answer from a wellknown law firm that regularly advises very large concerns where it is critical they know what they are talking about, as well as taking in their stride the smaller ones. And since their offices talk to each other (if you choose the right firm) you will have the crossover benefit with all advice up to date (How current is that person down in the Aude with British law? And if he/she has to consult with some hidden person in the UK, I would assume that's been factored into the fee somehow). I hesitate using anyone who focuses on such a small market as ex-pat Brit French property owners, unless fully endorsed by someone I knew personally who is well connected in the legal community and is in a position to know, as otherwise it's a crap shoot. And I'm not sure of your remedies should you end up relying on a wrong answer from a consultant. None of this should be construed that this particular consultant firm is bad (they could be excellent), only that there might just be an easier way when you don't know them at all and are faced with relying on rather impersonal references who don't have a personal stake in your wellbeing. Good luck, whichever way you go.
  21. I am a non-EU citizen with a second home in France that I can presently use only for vacation. I've got 14 years of savings in a retirement plan through my employer, and a minimum of 15 years before I can begin to think about moving to France on a semi-permanent or permanent basis and yet another 12 years or so before I can finally "retire." Thankfully (or not?), I'm not approaching the point of wealth tax being applicable, but presumably in 15 years when I anticipate changing residency there might be enough (between the home, assuming French use future-value or "then-current" value as opposed to what I paid, and my retirement account balance). I'm concerned about wealth tax eventually kicking in (12 years before I am eligible to draw on the funds -- in fact, I'd incur early withdrawal penalties], and basically preventing any necessary growth of the retirement account, possibly eating into principal, or forcing me to use what meager income I might have at that point just to service taxes on this sort of phantom wealth, and leaving me no monies to actually live on during that 12 year period, or, worse, forcing me to liquidate and incur substantial penalties. It seems harsh. Has anybody successfully put their retirement account into a trust, which then pays you an annual sum (on which you just pay the typical French tax on that income and, if applicable, wealth tax on any non-retirement oriented assets). I don't have an issue with paying taxes, but it does seem a bit of an unfair burden (at such relatively low thresholds, as opposed to truly wealthy individuals) to be expected to pay extra on top of income tax out of retirement savings that are in effect the only means of sustenance, except if/when I die early and they can help themselves to the whole bit as far as I'm concerned. (Lest anyone think I'm a Scrooge, I don't have a hubby or children so nobody's gonna be missing out). I don't anticipate having much social security benefit despite having paid into my system, and I rather doubt that I'd get anything out of the French system though I would not object to paying into it (and probably will pay one way or another anyway). Thanks for sharing any anecdotes and/or insights.
  22. Welcome to the Lot! I am not too far away, in 46200. Glorious countryside we're in, isn't it? I am not there all the time.... next trip is likely in May. Would love to chat now and again. Congratulations and good luck.
  23. Clearly this is something that is far too dependent on tastes and preferences (as well as on any physical limitations), but on the average, I'd venture to say that unless people want a booming metropolis (in which case they'd be in Paris and not in any gite!), it is safe to assume the following: 1. The village in question should have a decent number of cafe options, that stay open later. The village should be roughly equal parts catering to tourists and catering to locals. (If it's entirely workaday, it probably lacks appeal for the visitor, and if only to tourists, you're perhaps going to have a hard time finding basic essentials and services like optometrists, without going very far) It is important to note that some villages are okay or even fabulous in summer but dead (literally, i.e., hotel closures and restaurant closures) from fall to April. If you rely on fairly year-round income options (or at least from February/March through end of October), you'll want to be near a village or market town that is more lively year-round and not so specifically seasonal. And don't forget your own needs in this way!! (Do you really want to have to drive 40 minutes to get to a restaurant in the middle of winter?) The best thing to do is shop for your place (or at least visit the area) in the dead of winter. Right now is not a bad time to test certain areas and see for yourself. And do the homework on what it's like in the height of summer. 2. The house/gite itself doesn't have to be in that village per se. So long as the options within the village are plentiful and don't close up at 8pm, I would tend to think most active renters will not mind a 7km drive or possibly 10km for dinner/cafe scene or shops (some may want their croissant much closer; I'm personally not that picky). Basically, anything within a 10 minute drive or so should be okay (after all, they are probably in the countryside for a respite). But being 30km or 40km from any kind of services, on a windy tiny road, is really pushing the envelope for all but a few who want to get away completely. If the property is "in town," for peace and tranquility you probably don't want to be on the main drag or at major crossroads, yet you want to be close enough to walk and it should be in a reasonably pretty environment. Otherwise, there's not particularly any advantage to being actually in the village unless it is literally in every way and in every corner, "picturesque" (whereas some have picturesque quarters and humdrum outskirts) or one literally must have immediate (as opposed to within 20 minutes) access to doctors. 3. Most importantly, again for all but the most reclusive type of traveler, it is important that any immediate neighbors are friendly. If you've seen the cult classic film Withnail and I (where "I" goes in search of coal and wood in the Lake District, you know exactly what I mean!). Equally, there should be a number of interests to cater to within easy distance (like within 1/2 hour or at least within 1 hour and a few can be further out, within 1-1/2 hours), whether outdoor activities (such as boating, fishing, cycling etc.), or notable national park, or interesting touristic sites such as chateaux, castles, churches, museums, caves, great architecture, famous villages, or slightly larger small cities within an hour drive with shops, or cultural activities such as concerts (doesn't have to be a major concert hall; even small villages of 500 have culture, but not all of them certainly, hence you have to do your homework and check out neighboring villages also). You don't have to have everything (some areas are richer in sites than others), but you must seriously ask the question: What is there to do and see and is there reasonable quantity and variety? Is it attractive from a tourist's point of view? Does the visitor also have the option of not doing those touristy things, and have the option of simply having a tranquil and enjoyable stay in a nice environment or maybe somewhere nice and scenic to go for a walk?
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