Selling costs

[Alane]

I'm sure this must have been covered before but I couldn't find the info.

Can anyone please summarise or point me to info on the costs of selling a property? I understand the CGT implications but can't find any summary of other costs involved nor determine what is paid by the buyer and what is paid by the seller.

Thanks in advance

[Sunday Driver]

Discussed a few weeks ago in this thread:

Insight into costs of selling in France?

[bubbles]

We have been told there are no costs for the seller - apart that is from the diagnostic tests.

Ours cost 550euros.

That should be it!

[mint]

I know from someone who is selling that they are having to pay something like 1,500 euros to some bod (SD knows the name of this type of fiscal person) to work out that they are selling at a loss.

So, even if you make no gains, you still have to pay to have your loss calculated.  This is, of course, for someone not fiscally French resident.

Edit:  Bubbles, please can you look in your PM and give me some info?

[danny]

That cost is not necessary. A quick visit to the hotel des impots armed with the details, and then bring the resulting calculation to the notaire. A lot of estate agents are now offering this advise.

[Alane]

Suday Driver - thanks very mcuh for the link. I can't understand why it didn't come up when I searched but now I have the info.

It's reassuring to see how low the cost of selling on can be.

Best Regards

[PaulT]

At the end of the day yher French system is no different from the UK system:

The buyer hands over a wad of cash, some goes to the agent and some to the seller

In the UK the seller could think 'I want £200,000 for my house, the agents fees will be £3,000 so I will accept £203,000'.

There is no real difference between the buyer giving you £200,000 and giving the agent £3,000 than giving you £203,000 and you giving the agent £3,000. The outcome is the same.

Paul

[mint]

You're right, PaulT.  It all comes from the same pot, the buyer's.  Don't I know it, being a buyer![:(]

[Gastines2]

The only add-on I'd put to that bit of maths is the difference between UK and French Immo fees.If only French Immo's were prepared to sell for 1.5% I should imagine that their share of the market would increase. It seemed reasonable when we bought our first Longere at £14k but now prices are in the 200-300e average it seems a bit steep for the service provided.

[Will]

If you would be prepared to set up a French estate agency business, after getting the necessary legal qualifications or experience, or provide the financial backing to somebody who has, and charge 1.5% commission, I am sure you would clean up the market. I think you would also find out why, even in good times, agents in France are unable to charge less than 4% on an average selling price, and nowadays even many of those charging 7% are losing money. Don't forget that notaires charge 2.5% to 5% commission, plus TVA, and they are, in effect, subsidised by the state.

[Benjamin]

[quote user="Gastines2"]It seemed reasonable when we bought our first Longere[/quote]

Is it fair to assume that you live/lived in the country?

Just look at the properties for sale, the length of time they're on the market ie turnover of properties, and then think of the overheads in running an Estate Agency.

I think they do very well to keep their fees as low as they do.