How to sell mum's house.

Discussion in 'French Property' started by McCollFamily, Aug 2, 2014.

  1. McCollFamily

    McCollFamily New Member

    After many years travelling to and from France to her house my Mum is no longer able to make the regular trips and has asked me to put her house on the market.

    I want to initially list it on a website before going down to find a couple of local estate agents to market it. There seem to be lots of websites to choose from but as they all charge it would be helpful to get another person's perspective on where to put it.

    Any suggestions on good websites and pitfalls to avoid when selling.

    Many thanks
     
  2. totallyproperty

    totallyproperty Administrator Staff Member

    Hi

    I am sorry to hear that your mum is not able to make use of her home in France. I strongly recommend taking tax advice to find the most tax efficient way of selling the property as UK and French tax laws are different. There are many advisers who will be able to assist and if you have no first hand experience of the French market then it may be worth talking to well know UK companies which also have operations in France?

    Regards,


    Mark
     
  3. McCollFamily

    McCollFamily New Member

    Thank you Mark,

    I can't imagine there would be a tax issue as she wants to sell it for 200,000 ish Euros and even though she bought it for 150,000 she has spent over 100,000 on it and has all the receipts so would hope that the lack of profit negates any tax...will find out though.

    Ali
     
  4. Florent

    Florent New Member

    Hi Ali,

    The website for all real estate matters in France is seloger, it's huge. There is also immobilierdotfr, less popular but still useful.

    These 2 are only focus on real estate. You should also have a look at leboncoin which is a kind of french ebay for everything, with a whole "property for rent / sale" section. It's the biggest website in France.

    Sorry if url are not clear, they don't let me put them propertly on this forum.
     
    Last edited: Sep 3, 2014
  5. Florent

    Florent New Member

    I just checked, there's even a selogerdotcodotuk, just to show you how big it is.
     
  6. LPC

    LPC New Member

    Ali, I have a few comments:

    Regarding seloger(dot)com, it is good if you are looking for a property, but if you want to sell one, you will find that you cannot advertise directly on their site. If you go to their home page, then click on "agences", followed by "vendre un bien", you have to fill in your details....and then wait for estate agents (selected by the site) to call you! So the estate agents will choose you, rather than the other way around! Not the best way to do things, IMHO.

    immobilier(dot)fr is OK, but in the current crisis do not expect much interest, unless you offer the property at much less than the market rate. Advertisements are free.

    Florent is right about leboncoin. It is a massive site with a big readership. Advertisements are free and easy to put online. But once again, the price will dictate whether you get any replies.

    You could have a look at immogo - just Google the name and you will find it. They have a "no sale, no fee" option, with low percentage commission, which is worth looking into.

    However, in the current depressed market I think you may have to bite the bullet and instruct a few local agents. French estate agents normally show their prices as "FAI", meaning they ask a higher price and you get the net figure agreed beforehand. (In other words, the buyer pays the agent's fees, but the price is increased to cover them). Percentage fees are much more than in the UK, so be warned! A cheaper alternative is to go to your local notaire (a rough equivalent of a UK solicitor), who sells houses and charges less fees than an estate agent - thus making your house marginally cheaper than with an agent, after fees. There is also the advantage that he will also handle the sale for you, so all is one place. Many of them, but not all (!), speak some English. It is best to take an interpreter or French friend with you.

    Best wishes to your mother in her sale of the property!

    Regarding tax (French capital gains on a second home), you are right, Ali. Provided your mother can produce proper receipts from professionals, and the total spent (original cost plus receipts) is more than she originally paid, then she will not be liable to tax in France. It is a sad reflection of the current market that she will bear a loss at the moment.
     
    Last edited: Aug 14, 2014
Loading...

Share This Page