Buying or Selling and the B word

[mint]

I'm not trying to dodge the thought police or the mods, honest.

Friends on the forum would know that I am thinking of selling our property and buying another one.  I'm now going to ask a question about budgetting.  Yes, of course, that's the "B" word, what did you think it was?

A hypothetical example, then:

Say, you buy a house for €100 000.  Going by past experience, you'd budget for a ballpark figure of €107 000 to cover taxes and notaire's fees.  Provided the house is sold gross of any agent's fees, that would be it.

If you are the seller, however, and you sell a house for €100 000.  What would you get in your hand?  If using an agent, I know that you'd expect to pay them roughly 5% (could be negotiable, I guess).  Assuming then that you own the house outright, that it's not a maison secondaire, that you're France tax resident, what outgoings are you liable for?

Thank you for giving me the benefit of your knowledge and experience.  I am having to pay close attention to the B word, what with the abysmal rate of exchange and the uncertainty of the market.

I know it's not possible to work things out to the last centime, but a rule of thumb figure would be an excellent start. 

[Boiling a frog]

If you wanted 100000€ then if going thro an agent he would advertise it at approx 105000€ to 110000€  you would get the 100000€ ,the buyer pays the notaires fees ,you pay only for diagnostic test possibly around 500€  and if the ground needs marked out then bournage fees altho they are usually split 50/50

[mint]

Thank you, BAF.  That's concise and helpful.  Now wish me luck!

[ams]

The answer very much depends upon the age of the house. If a new house ie under 5 years of age TVA comes into play. If it is an old house, then dependant upon if the house uses gas and is over 15 years installed, you would be required to pay for a gas certificate, same for electricity, termite cert, energy cert, lead cert and the general all natural risk certs. They can be expensive if all of the above are required. In addition you will have to pay tax habitation and a proportion of the tax fonc as well.

 

In the case of agents fees just take the selling price and divide the result by 1.05 if 5% or 1.06 if 6% etc. So in the example you quoted the €100,000 which includes a 5% agency fee would give you net into your hands €95,238.

 

Hope the above is of some help.

 

By the way the taxes the buyer pays is on the asking price before agents costs. however in essence who pays the taxes is a little bit like the chicken or egg, which came first question, as the buyer always factors in the acquisition cost in making a bid.

 

ams

[mint]

Thank you, ams.  I think I have got all that now.

So to capitulate:

I have all of the certs from the owners before us as we have only had the house less than 2 years.  That is I have the certs for change of use, finish of works, all signed off and stamped at the mairie.

I have a cert for the electricity as we had the system inspected and the electricity counter and supply from EDF arranged from scratch.

I need asbestos, termite reports?  Right?  And what other ones?

The taxe hab will be paid as we haven't been issued one as yet. 

I understand about the apportioning of the taxe fonc

I'll see if I get anywhere with negotiating fees with an agent

I also plan to advertise it myself.

After that, I guess it's in the lap of the gods as to when or how much it will sell for.  That's the worst bit but then I am hoping to buy another one at a bit of a bargain.  As the proverb has it, it's swings and roundabouts and I am happy to take my chances.

 

[ams]

The market is poor so u should be able to get a 3% rate. i noticed today in the window of atlantic immobilier in fouras they are offering a 20% discount on their fees.

best of luck.

ams

[mint]

Thank you, ams.  Perhaps that's why immos are falling over themselves to be accommodating (pardon the pun) at the moment.

[Patf]

I thought the buyer paid the immo's fee? And both pay separate notaire's fees.

[Sunday Driver]

As per BAF's earlier post...

The buyer pays the immo's fees.  He also pays the notaire's fee for the conveyancing and the state taxes on the acquisition.

 

[mint]

Thank you, SD, knowledgeable as usual.

Now, can you say categorically what sort of diagnostic and other tests I will need to have done before any potential sale and also how long the results of the tests are good for?

[Clair]

http://www.selogerpro.com/156244/207685/article.htm

[mint]

Excellent link, Clair, many thanks indeed.

Doesn't sound too onerous from our point of view.  Hey ho, onwards and upwards!