Price of house less notaire and agency fees.

[Ysatis]

 Hi all,

   If a house is advertised as €35000 including notaire and agency fees, what would be the value of the property before they are added?

Regards.

[ams]

a house for €35,000, not possible for an exact response, however €2,800 would cover the notaire and gov taxes, and i would imagine the agent would be demanding a minimum of 10%. so take off the €2,800 and divide the result by 1.1, as the notaires fees and gov cost are charged on the price prior to the agents costs. rough estimate would be €29,300.

 

ams

[Chancer]

Notaires fees are a higher percentage for the lower value houses which reflects the amount of work done.

From memory I paid 12 or 13% on top of a 40,000 euro purchase price, this was just for the notaire and taxes etc as I bought direct from a liquidator and no agent was involved.

AMS

Glad to have read that your tenant has left although from your other posting I guess there were some repairs to do, did you get to keep the caution? 

It may seem a silly question as I know that he owed loads in rent but if it were in the UK with the new tenancy deposit legislation not only would you not be holding the caution, and hence having to use your own money to do the repairs but the scheme does not allow rent arrears to be deducted from the deposit and he would have got it back[:@]

[ams]

Hi JR,

We got to keep the caution, we joined UNPI, just €37 and the service and advice is brillo. In fact the problem was a leaking pipe at the back of the shower which the tenant ignored, still it was covered by the builders guarantee, but involved making holes in the wall. Now with the caution down to one month, word has it that the number of houses for long term rental will fall dramatically. We will be heading for the hills as soon as possible. Short term holiday lets seem to be what the french do.

 

ams

[Ysatis]

   I'm just trying to work it out, please bear with me, I am far from the sharpest pencil in the box. [:$] I've got as far as this:

    €35000 - €2800 (N) = €32200 divide by 1.1 = €29272; so if the agent is €2800 using your example, my result seems to be €26472, sorry I haven't rounded the figures up. But my calculation is no way near same as yours. [8-)] Please tell me where I've gone wrong.

Thanks.

[ams]

                                                          €

Cost of house                         29,272

Agents fees 10%                      2,927 Estimated

Notailes costs  9.56%              2,800 depending on the emouluments de formalites de débours, could be 2,900

Total costs                            34,999

 

hope my calculations help.

 

 

[Anton Redman]

For notaires fees

http://www.anil.org/guide/calculs/notaire/notaire.htm

For Immos ask and negotiate.

[Ysatis]

Thanks all, much clearer.

Regards.

[Grecian]

When a house is advertised stating that all notaire and agency fees are included, does this mean that the price advertised, is in fact the final price you will have to pay? Or are there any further taxes/costs etc to be added to the selling price shown?

Thanks in advance for any replies.

 

[Ysatis]

I've been having a look at this web site  www.paris.notaires.fr/frais_mut_ecran1.php  regarding notaire fees to see how they vary according to the price of the property, I can translate this below

Prix d'acquisition	€
dont mobilier éventuel d'une valeur de (meubles de cuisine, électro-ménager, ...)	€

but what does the high-lighted red bit actually mean, because the higher the figure I enter, the lower the fees.

Regards.

[Ysatis]

Sorry, same web site, and this bit.

Négociation par un notaire
(mise en relation de l'acquéreur et du vendeur justifiée par un mandat de vente)

Regards.

[Alan Zoff]

[quote user="Grecian"]

When a house is advertised stating that all notaire and agency fees are included, does this mean that the price advertised, is in fact the final price you will have to pay? Or are there any further taxes/costs etc to be added to the selling price shown?

Thanks in advance for any replies.

 

[/quote]

When I bought mine advertised on this basis, I paid exactly the price I agreed. Much less than original asking price but still inclusive of all fees and taxes - didn't pay a cent more.

[Will]

Be aware that it often (not always, before anybody gets upset) works out that 'all-inclusive' deals will cost you quite a bit more than the more usual practice of paying a price including any sales fees/commission, and adding on afterwards the payment to the notaire to cover legal fees and taxes. You also stand to get a small refund of legal fees when the sale is complete and registered when you pay the notaire direct, which isn't always the case with all-inclusive deals where you pay just one sum to a company, often UK-based.

Such companies justify the extra costs by making the process simpler for non-French speakers, which it certainly does - but at an often considerable financial penalty.

[kimg]

hi

yes you are right, i just got my little refund, ha

 

kim

[Alan Zoff]

I bought through a French immobilier. The Notaire produced a full breakdown of all fees, taxes and expenses but the bottom line that I paid was the inclusive price I had agreed.

[Will]

Which is exactly as it should be, Alan. I'm rather intrigued, however, about how such an 'all inclusive' figure can be offered to all buyers, when their situations are different.

Yours was obviously negotiated, on an individual basis, as an all-in figure, which is not at all uncommon. However, as even something as simple as a mortgage can add several hundred euros in fees to even an average house, compared with buying with cash or some other types of loan, it seems difficult to quote an 'all-inclusive' asking price unless it is based on, e.g. the buyer having a maximum mortgage, then refunding the excess.

[Alan Zoff]

Mine was probably quite straightforward as no mortgage was involved.

[Grecian]

Many thanks for the replies regarding fees and taxes. I have three different website stored for properties, in the area we think we may want to live. Two include all fees and taxes, the other does not.

Is there a general percentage figure to be added to any property, that is advertised not to include all fees and taxes, or is it down to the individual immobilier/notaire?

 

[mint]

As I understand it, the notaires charges, which include statutory taxes as well as his fees, are on a sliding scale and are fixed.

Immobiliers, of course, are able to charge what they like, and their fees depend largely on the "local" rate.  Their fees are typically 5 to 10 per cent of the cost of the property.

[Alan Zoff]

I suspect the initial all-inclusive price includes some generous leeway, allowing for a worst-case scenario. As prices are invariably negotiable, the immo will take all factors into account before agreeing any reduction from the starting price to make sure the notaire's fee and taxes are covered and that the vendor and immo are left with what they are prepared to accept.