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Selling houses in France involves doing some homework
If you have just moved into your dream house in France, the thought of selling it may be far from your mind. There are, however, many reasons why one day you may take the decision to put your French property on the market, so to maximise your chances of a fast and straightforward sale, it is well worth doing a little homework.
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Selling houses in France - part one
If you are selling your house because you are returning to the UK, it depends on whether or not you have a pressing need to sell quickly as to how you should market your French house. If you are in no particular hurry, it may be possible for you to remain resident in the house until a sale is completed, and this avoids many problems of trying to market an empty house. Any agent will tell you, a house that is clearly a happy and well loved home will appeal more to buyers than an empty space, devoid of the warmth and cheer that tends to come from being occupied. (This is, of course, dependant on the home being well maintained and prepared for viewings... I did visit one farm house for sale in France to find sheep in the kitchen, sacks of corn stored in the hall, dirty clothes all over the floor in the bedrooms and bare light bulbs hanging everywhere... none of which worked!)
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Selling your French property with the help of a guardian
If, for any reason, you are unable to remain in France for the length of time necessary to complete the sale, you may wish to consider employing a guardian. This person will live in the property and maintain it, overseeing viewings when necessary and keeping the grounds tidy and appealing. You will usually have to negotiate a small fee in return for this service as well as the rent free accommodation, but many find that this is a much better solution than worrying about trying to sell an empty and uncared for house. Finding a suitable guardian is best done by word of mouth, but you can usually find adverts on the Internet on sites such as this, in English language newspapers such as French News, on the Petits Annonces boards in local supermarkets and perhaps in bars and clubs where English speakers gather.
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Selling houses in France - part two
It may be, of course, that you are not selling your French property in order to return to the UK at all, but are moving on within France. You may be downsizing because the children have left home, or up sizing because of an impending increase in either the size of your family or your wage packet! There seems to be a mistaken belief amongst British people who are seeking to buy property in France that if ex-pats are selling up, they must be returning to the UK with their tails between their legs having failed to make a success of life in France (Life in France). With many cases, nothing could be further from the truth.
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Selling French property - a personal experience
Jackie and John Stewart are currently selling their home in the Charente-Maritime department of western France (Charente-Maritime Property Guide). I asked Jackie a few questions about the process from her perspective. The answers were interesting and certainly give the lie to the idea that everyone selling a French property is giving up and returning to the UK. Jackie informed me that the reason that their house is currently on the market has more to do with the slowing of the British housing market than any kind of unhappiness concerning life in France. Their property in the UK has failed to sell, although there were a couple of false alarms that prompted them to purchase the Charente-Maritime house, believing that the money from the sale would soon be through to enable them to complete the works they envisaged on the house in France. Unfortunately this sale collapsed, and the couple have since had to rent out the English house in order to pay for the French one.
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Reasons for selling their French property
Difficulties there may be, but going back is far from on the agenda. "Going back to the UK?" says Jackie, in an incredulous tone. "No way! We wouldn't go back for all the tea in China. We love it here, and now we are getting the hang of the language I really feel like we belong." (Learning French.) The Stewarts are selling their Charentaise Maison de Maitre with Chambre d'Hôtes for two main reasons. One is to release more finances, and the other is because they are now eager to try life in a different region of France, craving the peace and beauty of the mountains in the Hautes-Pyrénées region that lies close to the Spanish border (Hautes-Pyrénées Property Guide).
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Selling houses in France – ways to do this
There are different ways to go about selling houses in France, and it is up to you to decide which path you want to follow.
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Selling houses in France through a website
Jackie and John Stewart have decided to eschew the local estate agents or Immobiliers, preferring instead to create their own website to showcase their house (www.freewebs.com/chezboyer). This can be an excellent way to sell a property in France, especially as many British and other foreign buyers do most of their initial searching on the Internet, reverting to the costly personal trips to France once there is a short-list of promising properties drawn up. A well thought out website can create lots of interest from UK buyers, especially if you increase the chances of exposure by placing an ad linking to your site with a site such as this one, French Property Links (FPL), which comes to the top of most of the major search engines, including Google. When I bought my house in the Aude, in southern France, in 2004, I had never heard of FPL, yet my Google search for a four-bedroomed farmhouse with land in this area took me straight to the FPL site and an advert with links to an extensive website showing the house that I now live in and love! (Selling With Your Own Property Website.)
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Selling houses in France through an agent
If you do decide to employ an agent, remember that you can register your property with more than one agent as this is common practice here (French estate agents). It is, in fact, possibly advisable to do so, as Tim and Freya Bennett, who have just successfully completed the sale of their house near Toulouse (Toulouse Property Guide), advise. "In our experience, once we added the competitive element of asking two or three agents to advertise the house, things hotted up considerably. From having had a slow start we suddenly found ourselves with three viewings booked, the third couple being the eventual buyers.''
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Use a bi-lingual agent
It is also a good idea to use a bi-lingual agent, even if you speak French well yourself. This way you will find British buyers more likely to proceed with further viewings and purchases as they feel more confident that they can obtain the help and advice they need. An agency such as Hamilton Immo ( www.hamiltonimmo.com) based in south-west France, are able to supply bi-lingual agents with lots of experience, and this can be a great help in encouraging British buyers to get in touch and make appointments to view. They also have links with Savills International in the UK, among others, thus extending the exposure of properties to a much broader market.
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The buyer usually pays the agency fees in France
It is also worth noting that in many cases in France, it is the buyer who pays the agency fees, not the seller (Buying a French Property - The Fees). Hamiltons, whose experience with British buyers has shown that this practice can cause real problems, are an exception to the rule, and agree the fee with the seller before the sale thus avoiding potential problems for the unsuspecting buyer in the future.
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Selling houses in France and agency fees
It is sometimes said that using an agent in France is too expensive. Certainly, fees in France tend to be higher, but you get a lot more for your money, as Dominic Wedderburn, who has worked in both the UK and France as an estate agent explains. "In the UK, the agent would carry out one visit to a property to take all the details for putting the property on the market... and that would be the end of his direct involvement with the seller. In country house sales, the agent would rarely meet the buyer face to face as it would be the office that would organise viewings and show potential buyers around. Negotiations would often be done by phone or fax. In France, however, the agent has a much closer link with all parties, liaising between them to make sure that the Notaire can process the sale efficiently, and will even be there at the final signing to help with translation, advise on procedures, and to iron out any last minute glitches."
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Selling houses in France - expert opinions
One thing that you must do as seller of a property in France is to ensure that the proper checks for asbestos and termites are carried out before the final documents are signed. This is the responsibility of the seller, and not having the checks correctly completed could constitute a reason for the sale to be nullified. It also seems that France is getting its own version of HIPS! At the time of writing, (there are more possible changes afoot) a survey, paid for by the seller, is required, and covers such issues as electrical and gas connections (do they meet current standards?) and even ecological efficiency (how green is your house?). It does not, however, provide structural information to the buyer, and a separate survey should be commissioned by the buyer if this is required.
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Selling houses in France and capital gains tax
If you are selling your French property as your principal residence, you will not be liable for capital gains tax (CGT) on the proceeds of the sale. If however, the French property you are selling is not you main residence (note that for your French property to be counted as your main residence you must be registered as a tax resident in France), you must allow for a CGT on top of your other expenses, unless you have owned the property for over fifteen years.
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The selling process in France
The selling process is different in France from in the UK. A Compromis de Vente is usually signed after the parties have agreed a price and any conditions, and this effectively secures the sale unless the conditions stipulated are not met. There is, however, a cooling off period of eight days allowed after the signing of the initial agreement, but after this sellers and buyers can relax and enjoy a distinctly greater peace of mind than they would in a similar situation in England. (Property sales in France.)
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Remember to detail everything included in the sale
Sellers should note that at this point, they also need to detail clearly items that are to be included in the sale. It is quite common in France to remove even fixed items such as light fittings, and if you have English buyers who are not used to this it is a wise move to tell them if you are planning to do this, just to maintain goodwill! The last stage in the selling process is the signing of the final act, usually done in the presence of the presiding Notaire. It is common in France for both buyers and sellers to use the same Notaire, and there is not considered to be any conflict of interest involved in doing so.
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The British and French property markets
If the British market is in a downturn, or at least, is experiencing a fairly flat period, in what way does this impact on the French market? There is a knock on effect, in as much as British buyers who are unable to sell their houses in the UK may be deterred... although many, like the Stewarts, find a way around the problem. Houses in the UK are not now fetching the ridiculous sums of a couple of years ago, but in relation to most regions of France, there is still a healthy gap between the price of property in the UK and that of a similar property in France.
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Selling houses in France – how long does it take?
How long is a piece of string? It is impossible to generalise. The French market, however, has always taken its time (as do the French in most aspects of life!), so it may be better not to expect things to happen too fast. That said, a good property in a desirable location will always sell if it is well marketed and, most important of all, sensibly priced.
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Selling houses in France depends on value for money
Monica Lancaster of Ma Maison (Mamaison-fpm@wanadoo.fr) in Castelnaudary (Castelnaudary Property Guide), has just sold a couple of properties in the area despite talk of a slowdown. "Property in all price brackets is selling," she told me, "... it isn't so much the price bracket that is the issue but the value for money. Buyers at the moment want to think that they are getting value for money, so realistic pricing is key to a fast sale. Two houses that I have sold recently have been priced respectively at 164,000 Euros (a flat in town) and 780,000 Euros (a beautiful country mas). Both were in good condition, well prepared for sale, and both were priced to sell, although not 'too' cheap."
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Be aware of exchange rates
Monica also counsels keeping a weather eye on the exchange rate, which has been fluctuating somewhat of late, as this can have a significant effect on sales. There's not a lot you can do about it, of course, but it does help to be aware of the market you are dealing in when you come to decide on a time to sell and a realistic pricing. (Currency exchange options which save you money, Advantages of using a currency broker or foreign exchange specialist.)
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Selling houses in France is much like selling houses in the UK
Selling your house in France may differ in some respects from selling in the UK, but the basic principles remain the same. Do your homework, prepare the property to reflect its best features, market it carefully, be honest with potential buyers, and be realistic about the price. Good properties at the right price will always find buyers, so if your house isn't selling it may be time to review either your presentation or the price. France remains a popular destination for British buyers, and even if the market cools for a while there is no need for panic as the British property seeker's love affair with La Belle France doesn't appear to be going to change for a long time.
Additional articles which may be of interest:
Property in France - Getting More Info
Estate Agents in France
Letting property in France
House Renovations in France
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About the author
Joanna Simm moved to the Languedoc area of south-west France in October 2004 having found her property through French Property Links.
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