Ysatis Posted July 26, 2008 Share Posted July 26, 2008 Does anyone know if there is a minimum age requirement when buying a house for cash. Regards, Link to comment Share on other sites More sharing options...
Val_2 Posted July 26, 2008 Share Posted July 26, 2008 Not sure of age because often 18 is not recognised here but 21 is. A notaire would confirm it for you. Buying a house for cash - well I would be very careful there because huge amounts of cash over a certain limit will incurr some investigation at some time as to where the money has come from. Just a warning because you cannot buy a car here for cash as the garages have to notify the fisc of amounts over equal to £3k Link to comment Share on other sites More sharing options...
Judie Posted July 26, 2008 Share Posted July 26, 2008 At the agency I work for, we have a sale currently going through with a 19 year old purchaser. Link to comment Share on other sites More sharing options...
Russethouse Posted July 26, 2008 Share Posted July 26, 2008 Do you mean for actual Cash or without a mortgage ?I knew someone who actually went to the site office with the £££ notes - it happens ![Www] Link to comment Share on other sites More sharing options...
Ysatis Posted July 26, 2008 Author Share Posted July 26, 2008 Thanks Val_2,My son who is 17yrs is interested in a house that is less than 15000€. You can guess the condition of the house by the price and is keen to get his teeth into a project. The way house prices are in the UK, he has been looking in France. We are seeing our notaire next week, I will take your advice and ask him.Regards, Link to comment Share on other sites More sharing options...
Ysatis Posted July 26, 2008 Author Share Posted July 26, 2008 I must be a slow typer!! Didn't see the replies of Judie and Russethouse.I mean without a mortgage. He's been saving extremely hard. Link to comment Share on other sites More sharing options...
Val_2 Posted July 27, 2008 Share Posted July 27, 2008 Its just that the french government have really tightened up on cash amounts these days due to money laundering so as long as you can proove where the money has come from and how,it should be fine. 17 is not an adult here as you are officially still under charge of the parents and 18 is when the child benefit actually stops. Link to comment Share on other sites More sharing options...
Madeira Jon Posted August 14, 2008 Share Posted August 14, 2008 I am very interested in this thread as I wish to purchase a property for my grandson; but he is currently only 15 (but ageing rapidly!) So I guess I will have to buy it myself and then transfer it to him when he is 18. Link to comment Share on other sites More sharing options...
JEG Posted September 12, 2008 Share Posted September 12, 2008 We bought a house for our son when he was ten, under the French 'donation' scheme, which can include property. We ran the house as a very successful gite in Brittany, near Dinan, taking out UK mortgage to pay for it. In seven years, it has more than paid for itself (using the bank's money). Decided to put it on the market this summer (even turning down Sept, Oct and Xmas bookings!), as son will need a flat for when he goes to college next year (and will be 18). There will be some CGT to pay in France, as he has owned for less than the 15 year ownership rule, and no doubt some here, though UK CGT now 18%, and you don't pay twice, we should only have to pay the differenceTalk to a good notaire - it's free until they actually do something. Link to comment Share on other sites More sharing options...
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